Myanmar’s central bank denied a UN report that the country’s military government can still access money and weapons for its war against anti-coup forces, saying financial institutions under the bank’s supervision followed prescribed procedures.
The Central Bank of Myanmar “expressed our strong objection to the UN Special Rapporteur’s report,” it said in a statement published in a junta newspaper on Saturday. “The UN report severely harms the interests of Myanmar civilians and the relationship between Myanmar and other countries.”
The rapporteur on Myanmar’s human rights, Tom Andrews, reported on Wednesday that while international efforts to isolate the junta appear to have dented its ability to buy military equipment, it still imported $253 million worth of weapons, dual-use technologies, manufacturing equipment and other materials in the 12 months to March.
The report said Myanmar had the help of international banks, including those from Southeast Asian neighbor Thailand, for its purchases.
Facing its biggest challenge since its 2021 coup against Nobel laureate Aung San Suu Kyi’s government, Myanmar’s military is caught up in multiple, low-intensity conflicts and grappling to stabilize a crumbling economy.
Western countries have imposed multiple financial sanctions on Myanmar’s military, banks and associated businesses.
The central bank said local and international banks engaged in transactions with Myanmar have undergone comprehensive due diligence measures for all business relationships and transactions.
“The financial transactions are only for the importation of essential goods and basic necessities for Myanmar civilians, such as medicines and medical supplies, agricultural and livestock supplies, fertilizers, edible oil and fuels,” it said.
The UN report said exports from Singapore had plunged to just over $10 million from over $110 million in 2022 but that Thai companies in Thailand partially filled the gap, transferring $120 million worth of weapons and materials in 2023, double from the previous year.
Thailand’s foreign ministry said in a statement on Thursday that the country’s banking and financial institutions follow protocols like other major financial hubs, adding the government will look into the UN rapporteur’s report.
Myanmar central bank denies UN report on weapons transactions
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Myanmar central bank denies UN report on weapons transactions
India says PM Modi invited for Russia’s Victory Day parade
Russia has promised to hold its biggest World War II commemorations “in history” to mark 80 years since the Soviet Union and allied powers defeated Nazi Germany.
The annual Victory Day celebration on May 9 has emerged as Russia’s most important public holiday, one marked with a massive parade of military equipment and soldiers through the Red Square, and culminating in an address from President Vladimir Putin.
Historically close to Russia, India has resisted Western pressure to distance itself from Moscow following its invasion of Ukraine.
Russia sells India critical military hardware, and has also increasingly emerged as a key energy supplier as New Delhi seeks a pipeline of cheap imports to fuel its economic expansion.
“Our prime minister has received an invitation for participation in the Victory Day celebrations,” foreign ministry spokesman Randhir Jaiswal said in New Delhi.
“We will be announcing our participation in victory day celebrations at the appropriate time.”
Modi visited Russia last October for a multilateral summit and Putin is expected to arrive in India for a bilateral later this year.
Never take peace for granted, King Charles tells Italy parliament
- “Britain and Italy stand today united in defense of the democratic values we share,” King Charles said
- He became the first ever British monarch to address a joint session of Italy’s parliament
ROME: King Charles III warned Wednesday that peace can never be taken for granted and hailed Italy for standing by Ukraine, as he made a historic address to parliament in Rome.
“Peace is never to be taken, never to be taken for granted,” the 76-year-old monarch said during his third day of a state visit to Italy with his wife, Queen Camilla.
“Britain and Italy stand today united in defense of the democratic values we share.
“Our countries have both stood by Ukraine in her hour of need and welcomed many thousands of Ukrainians requiring shelter.”
He noted the defense ties between Italy and the UK, through NATO and a project to develop a new fighter jet with Japan.
Speaking in English with some Italian, Charles became the first ever British monarch to address a joint session of Italy’s parliament.
The king also addressed an issue close to his heart, the environment.
“Just as we stand together in defense of our values, so too we stand together in defense of our planet,” he said.
“From the droughts in Sicily to the floods in Somerset, both our countries are already seeing the ever more damaging effects of climate change.”
Indonesia deploys 1,090 soldiers for UN peacekeeping mission in Lebanon
- Country has contributed troops to UN peacekeeping mission in Lebanon since 2006
- Indonesian soldiers were wounded when Israel attacked UNIFIL peacekeepers last year
JAKARTA: The Indonesian military dispatched 1,090 peacekeepers on Wednesday to serve in the UN Interim Force in Lebanon, for which Indonesia is the main troop-contributing country.
Indonesia has contributed troops to UNIFIL since 2006, after the operation’s mandate was expanded by the UN Security Council following the Second Lebanon War to help the Lebanese Army keep control over the south of the country, which borders Israel.
The new batch of Indonesian soldiers will replace the current group serving in the country’s Garuda Contingent, which consists of 1,230 personnel and whose terms expire at the end of this month.
“Today, I am very proud to send off 1,090 selected Indonesian soldiers to join the Garuda Contingent, which is on duty in the UNIFIL Mission in Lebanon,” Indonesian Armed Forces Chief Gen. Agus Subiyanto said at a pre-departure briefing in Jakarta.
“The trust that the UN has given to Indonesia to continue sending forces for its peacekeeping operations is proof that the world recognizes the professionalism, discipline and dedication of the Indonesian Armed Forces.”
As of December 2024, UNIFIL’s force consists of 10,251 peacekeepers from 48 troop-contributing countries, with Indonesia topping the list, followed by Italy and India.
“The Indonesian Army’s involvement in UN peacekeeping operations is not merely a military mission, but also a humanitarian and cultural mission, and a national diplomacy at the global level,” Subiyanto said.
“I wish to remind every soldier that this mission is a sacred and noble mandate, so carry out this task as best as you can.”
UNIFIL has been patrolling the border area between Lebanon and Israel for almost 50 years.
The peacekeeping forces have been attacked multiple times by Israeli troops since Israel’s invasion of Lebanon last year.
Two Indonesian soldiers were among those wounded in October when Israeli tanks entered Naqoura village — where UNIFIL headquarters is located — and began firing on peacekeepers.
“The escalating conflict between Hezbollah and Israel has been intensifying more lately. This tension has a huge impact on the south Lebanon region, where you have been assigned. For this I ask that you always prioritize safety while conducting your duties,” Subiyanto told the new batch of Indonesian peacekeepers.
“If the threat escalates and you are required to leave the area of operations, implement the contingency plan prepared by the UN.”
Indonesia is among the main troop-contributing countries in UN’s global peacekeeping operations, with 2,736 soldiers serving across eight missions.
India broadens cooperation with Dubai as emirate’s crown prince visits
- Dubai-India Business Forum takes place on sidelines of Sheikh Hamdan’s trip
- India-UAE Friendship Hospital to be established in Dubai for Indian workers
NEW DELHI: Indian authorities and businesses have expanded cooperation with Dubai during the emirate’s crown prince’s two-day state trip to India.
Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum arrived in New Delhi on Tuesday for his first official visit, during which he met Prime Minister Narendra Modi and members of his Cabinet.
From the capital, he traveled to Mumbai for the Dubai-India Business Forum co-organized by the Dubai Chambers, the Confederation of Indian Industry, and the Federation of Indian Chambers of Commerce and Industry.
“Delighted that his first official visit to India coincides with the 100th anniversary year of the visit of his grandfather His Highness Sheikh Saeed to India,” Indian Commerce and Industry Minister Piyush Goyal told the forum’s participants.
“We witnessed the signing of MoUs focusing on future-ready supply chains and modernizing India’s maritime infrastructure … I underlined our deep cultural, economic, and trade ties that have further strengthened in the last decade with high-level engagements between our leadership that (go) beyond the realm of diplomacy.”
India’s economic ties with the UAE, including Dubai, have grown rapidly since the 2022 Comprehensive Economic Partnership Agreement came into power, eliminating trade barriers, lowering tariffs, and easing business operations.
In 2024, the UAE ranked as India’s third-largest global trade partner, following China and the US, with imports valued at $60.1 billion and exports at $37.8 billion.
In Dubai in particular, India has emerged as a top investor. Last year alone, India’s foreign direct investment into Dubai surged to over $3 billion.
The most populous of the UAE’s seven emirates, Dubai is also home to the majority of India’s 4.3 million diaspora.
“Indian investors form a key part of Dubai’s business landscape, with 72,651 active Indian companies registered as members of the Dubai Chamber of Commerce by the end of March 2025,” Mohammed Ali Rashed Lootah, CEO of Dubai Chambers, said during the Mumbai forum.
“Dubai holds a strategic position for Indian companies as a preferred investment destination due to its unique competitive advantages.”
Venues for cooperation with the emirate were further explored during the business forum in Mumbai, which saw dozens of Dubai business leaders arriving during Sheikh Hamdan’s visit and in which a new agreement between the Dubai Chambers and CII was signed.
“The forum focused on enhancing strategic economic opportunities between the two markets and was attended by more than 200 businesses from both sides. During the forum, many avenues were explored to enhance trade and investment opportunities (and) identify new opportunities to launch new joint ventures and strategic partnerships,” Manish Mohan, CII regional director-international, told Arab News.
“The MoU between CII and Dubai Chambers is significant in trying to see how we can improve and expand business between the Emirate of Dubai and India.”
On the sidelines of Sheikh Hamdan’s visit, India and Dubai also agreed to establish in Dubai the first overseas campuses of the Indian Institute of Management in Ahmedabad and of the Indian Institute of Foreign Trade.
“This follows the inauguration of the first-ever campus of the IIT in the Middle East in Abu Dhabi last year,” the Indian Ministry of External Affairs said in a statement, adding that it also “positions Dubai and the UAE as a key regional and global destination for eminent Indian educational institutions.”
The new 100-bed India-UAE Friendship Hospital will also be established in Dubai to provide affordable healthcare to Indian workers.
“It is also a recognition of the contribution of millions of Indians for the development and growth of Dubai,” the ministry said.
“These initiatives will benefit the 4.3 million-strong Indian diaspora living in the UAE and around 9 million Indian diaspora in the Gulf region.”
China retaliates with 84% tariffs on US products from Thursday
- China – Washington’s top economic rival but also a major trading partner – is the hardest hit
- Tariffs imposed on its products since Trump returned now reaching a staggering 104 percent
BEIJING: China will impose 84 percent tariffs on US imports, up from 34 percent, the finance ministry said Wednesday, hours after similar levies by the United States came into force.
US President Donald Trump’s latest salvo of tariffs came into effect on dozens of trading partners Wednesday, including punishing 104 percent duties on imports of Chinese products.
Beijing has consistently opposed tariff rises and said Wednesday it would take “firm and forceful” steps to protect its interests.
Its finance ministry later said in a statement that “additional tariff rates” on imports originating in the United States would “rise from 34 percent to 84 percent,” effective from 12:01 p.m. on Thursday.
“The tariff escalation against China by the United States simply piles mistakes on top of mistakes (and) severely infringes on China’s legitimate rights and interests,” the ministry said.
Washington’s moves “severely damage the multilateral rules-based trade system,” it added.
In a separate statement, Beijing’s commerce ministry said it would blacklist six American artificial intelligence firms, including Shield AI Inc. and Sierra Nevada Corp.
The companies had either sold arms to Taiwan or collaborated on “military technology” with the island, the commerce ministry said.
