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Palestine officially recognized by Spain, Norway and Ireland
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28 May 2024, 18:48
Spain, Norway and Ireland have officially recognized Palestine as an independent state on Tuesday (May 28). This recognition was given to Palestine according to the previously announced decision.
Spain was the first to officially recognize Palestine on Tuesday. A spokesman for the country's government said that Spain has officially recognized Palestine as an independent state following a decision approved by the cabinet.
After Spain, Norway officially recognized Palestine. After the recognition, Norwegian Foreign Minister Espen Barth Eide said that Norway has been one of the biggest supporters of the Palestinian state for more than 30 years.
After that, Ireland officially recognized Palestine. In a statement, the government of Ireland said that their country has officially recognized the state of Palestine. The government approved this recognition in a cabinet meeting on Tuesday morning (local time).
The Government of Ireland also stated that full diplomatic relations will now be established between Dublin and Ramallah as Palestine is recognized as a sovereign and independent state. In addition, a full Irish embassy and an ambassador will also be appointed in Ramallah.
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Two Arrested in Money Laundering Scheme Tied to Chinese Entities and Mexican Drug Cartels
The U.S. Justice Department has announced charges against two individuals for their alleged involvement in laundering money for Mexican drug cartels, including the Sinaloa and Jalisco cartels, which authorities say have “caused the worst drug crisis” in U.S. history.
Officials arrested Tan Li Pei of Georgia on May 22, the Department of Justice (DOJ) said in a statement issued that day. Chen Chaojie, a Chinese national living in Chicago, was apprehended on April 16, according to court documents filed in the U.S. District Court for the Eastern District of Virginia.
U.S. prosecutors accused Chen and Tan of working for a transnational money laundering organization, conducting financial transactions with profits derived from selling fentanyl and other illicit drugs in the United States. The authorities didn’t reveal the organization’s name but said “millions of dollars” in illegal narcotics proceeds had been laundered.
Transnational Money Laundering Scheme
According to the DOJ, the two defendants and their co-conspirators allegedly traveled across the United States to collect money generated from the sale of fentanyl and other illicit drugs. They are accused of collaborating with individuals abroad, including in China, to launder the profits through financial transactions aimed at concealing the money’s source.
Prosecutors charged Tan and Chen, in separate criminal complaints, with conspiracy to commit money laundering, which carries a maximum prison term of 20 years.
Seized Cash and Suspicious Transactions
The U.S. law enforcement agency seized a large amount of cash from Chen before his latest arrest, suspecting the money to be profits from drug trafficking. In April 2019, over $200,000 in cash was discovered in his vehicle during a traffic stop by Michigan State Troopers. Investigators suspected it to be profits from drug trafficking.
Chen denied ownership of the money, telling investigators via an interpreter that a “friend” had asked him to pick up the bulk of cash from an unknown male for cellphones. He stated that his communications with the “friend” were conducted on WeChat, a messaging app popular among Chinese, according to the document.
In April 2020, Chen was arrested again after investigators seized over $149,000 in cash during another traffic stop in Chicago. Chen claimed he worked for a Hong Kong-based company whose operator paid him $7,000 each month to deliver “electronic products to ‘customers’ in the Chicago area in exchange for bulk cash,” according to the document.
The operator, identified by Chen as “Liu,” messaged him a “code” that Chen would use to confirm customers’ identities. The investigation later found that the “codes” were the serial numbers on U.S. currency notes, which investigators described as “a common tactic used by money laundering organizations.”
In a search of Chen’s residence, law enforcement officials discovered ledgers, a money-counting machine, and other materials suspected to be used in illegal activities. An analysis of the ledgers is still underway, but investigators have identified recorded transactions totaling at least $8.9 million, according to the complaints. Chen was released after the interview.
Global Supply Chain and DEA Report
The indictment came as an annual report from the U.S. Drug Enforcement Administration (DEA) highlighted the threats posed by two Mexican cartels, Jalisco and Sinaloa, which operate in all 50 states and have “effectively eliminated any competition,” according to the federal agency.
“Together, the Sinaloa and Jalisco cartels have caused the worst drug crisis in U.S. history,” the report released on May 9 states. “They dictate the flow of nearly all illicit drugs into the United States, and their dominance over the synthetic drug trade in particular is evident in the relentless stream of illicit fentanyl and methamphetamine crossing the border toward U.S. markets.”
Chinese Entities in the Supply Chain
Companies in communist China appear to be key players in the global supply chain developed by the two crime organizations. According to the report, the cartels rely on Chinese suppliers to obtain precursor chemicals and pill presses, which are shipped to Mexican labs to manufacture fentanyl and other synthetic drugs that are smuggled to the United States. Finally, Chinese money launderers move profits from drug dealing from the United States to Mexico.
“Drug trafficking organizations based in Mexico and South America are increasingly utilizing China-based underground banking systems as their primary money laundering mechanism,” DEA Administrator Anne Milgram said in the report.
The arrests and ongoing investigations underscore the complex and international nature of modern drug trafficking and money laundering operations, highlighting the need for global cooperation in combating these transnational criminal activities.
Source: E-Pardafas
China will relocate close to 1 million rural Tibetans by 2025: HRW report
China is using extreme measures to relocate close to a million rural Tibetans by 2025, said Human Rights Watch, the New York-based rights watch dog, in a new report titled 'Educate the Masses to Change Their Minds: China's Coercive Relocation of Rural Tibetans.'
According to official statistics, over 930,000 rural Tibetans will be relocated by Chinese authorities between 2000 and 2025.
Notably, more than 709,000 of these relocations (76%) have occurred since 2016, coinciding with the start of China’s 13th Five-Year Plan. This group includes 140,000 people relocated as part of whole village relocation drives and 567,000 relocated as part of individual household relocations between 2016 and 2020. Currently, Chinese authorities are moving residents from 500 villages, affecting over 140,000 people.
The 71-page report elaborates on the compulsory participation of Tibetans in these whole village relocation programs. For example, in a village in Nagchu, 200 out of 262 households initially resisted relocating nearly 1,000 kilometers away. Although the Chinese government claimed that these villagers eventually consented to move, HRW found that consent was obtained through extreme forms of persuasion and coercion, including repeated home visits, threats of punishment, and disciplinary action against local officials who failed to meet relocation targets.
Additionally, these coercive tactics include threats against villagers who voiced disagreements, accusing them of “spreading rumors” and ordering crackdowns on dissent, implying both administrative and criminal penalties. Officials require each targeted village to reach a consensus decision, preventing any individual resident from opting out and thereby applying peer pressure to ensure compliance. Authorities also misleadingly claim that these relocations will “improve people’s livelihood” and protect the ecological environment.
'The mass relocations of rural Tibetan villages are severely eroding Tibetan culture and ways of life,' said Maya Wang, acting China director at HRW. 'China's government should suspend relocations in Tibet until an independent, expert review of existing policies and practices is carried out to determine their compliance with Chinese law and standards and international law concerning relocations and forced evictions.'
HRW also issued recommendations to the Chinese authorities involved in the forced relocation programs to ensure that they follow international standards, including exploring all alternatives, providing adequate compensation, and legal remedies, cease coercive tactics to gain consent for relocations, remove deadlines for relocation agreements, punish officials who make false claims about relocation benefits, permit United Nations special rapporteurs access to Tibetan areas and amend Chinese laws to align with international standards on forced evictions.
Source: Phayul
World Uyghur Congress condemns Hong Kong Court's pro-democracy activist sentencing
The World Uyghur Congress has strongly condemned the sentencing of 14 pro-democracy activists by a Hong Kong high court in the largest case under the National Security Law (NSL) imposed by China in 2020.
The 14 Hong Kong pro-democracy figures, including opposition lawmakers, are among 47 individuals convicted of the crime of 'subversion of state power' in 2021 and found guilty of participating in the primary elections. They could face life imprisonment.
'It is no surprise that China uses the NSL to silence dissidents,' remarked WUC President Dolkun Isa in a statement. "But the sentencing is furthermore evident of the systematic erosion of democracy, fundamental freedoms, and the shrinking space of civil society under the CCP," a press statement issued by the World Uyghur Congress stated.
The NSL, enacted in response to the pro-democracy protests that rocked Hong Kong in 2019, criminalizes acts of 'collusion, terrorism, secession, and subversion,' punishable by life imprisonment.
Critics argue it serves as a tool for Beijing to quell dissent and tighten its grip on the semi-autonomous region.
Standing in solidarity with the pro-democracy figures, the WUC demands their immediate release and urges the international community, including the European Commission, to take decisive action.
Calling for sanctions on those responsible, the WUC stresses the urgent need to address the erosion of democracy and fundamental freedoms.
'With the upcoming global elections, including EU elections,' emphasized Isa, 'democratic governments need to hold China accountable for its continuous attack on democracy and disregard for human rights.'
As the world grapples with these challenges, the call for justice reverberates louder, signalling a pivotal moment in the fight to safeguard democratic principles against authoritarian overreach.
Source: ANI
Southern Germany hit by catastrophic flooding
The southern states of Bavaria and Baden-Württemberg have been inundated, causing dam bursts and prompting dramatic rescues. States of emergency have been declared in several areas with more heavy rain expected.
Residents in the southern German states of Bavaria and Baden-Württemberg have been urged to exercise extreme caution Saturday as dramatic evacuations take place across the region.
So far, states of emergency have been declared in several districts and the German Weather Service (DWD) has issued severe weather warnings in more than 10 districts, with forecasts for more heavy rain over the next 24-48 hours.
Widespread disruption
Train service between the Bavarian capital Munich and Bregenz, Austria, as well as Zurich, Switzerland, were canceled Saturday. Train travel between Munich and Stuttgart, the capital of Baden-Württemberg, was detoured, and services between Ulm and Augsburg were also affected.
A 10 kilometer (6.2 mile) stretch of the A3 Autobahn near Bavarian Regensburg was also shut down in both directions Saturday afternoon when water from nearby fields began flooding the road.
In Augsburg, Bavaria, a dyke and a dam both burst, prompting emergency evacuations.
In Fischach, west of Munich, emergency services workers had to rescue residents stranded in their homes with helicopters when the local Schmutter River flooded. Other districts saw rescuers arriving in boats as floodwaters made roads impassable.
The ADAC automobile association — best known for it's roadside assistance and flight for life services — on Saturday said that all of its helicopters in southern Germany were currently in use assisting evacuation and rescue efforts. Air-rescue Services Director Jochen Oesterle said helicopters from northern Germany were en route to the south as well, where he said, "we will be deploying our experienced crews."
Residents of Bavaria, Baden Württemberg ordered to evacuate
Evacuations in the region began Friday evening, with an apartment building in Lindau, Bavaria, emptied as a precautionary measure. Water had made its way into the building, a spokeswoman for the city said, increasing the risk of an electrical short-circuit.
Residents from the building were then bussed to a nearby gymnasium where they spent the night.
In the Lake Constance district of Baden-Württemberg some 1,300 people were also asked to leave their homes due to the risk of flooding.
In the city of Memmingen authorities were forced to evacuate a state prison after plumbing began to back up as floodwaters seeped into the complex. Prison services said roughly 100 prisoners from the facility — 80 men and 20 women — had been temporarily taken to nearby penitentiaries in Landsberg, Kempten and Aichach, noting that it could be weeks before they return to Memmingen.
Authorities in Diedorf, near Augsburg, told residents that it was no longer enough for them to simply move to the upper floors of their homes, ordering them to leave as floodwaters continued to rise.
In Wiesensteig, Baden-Württemberg, residents were ordered to boil water before consumption after floodwaters overwhelmed local water treatment facilities.
Fire departments across southern Germany urged residents in affected areas to avoid basements, underground parking facilities and tunnels as well as advising against attempting to drive or walk through flooded areas.
Bavarian State Premier Markus Söder on Saturday said the "extremely strenuous" situation was "far from over. It's just starting." Söder thanked emergency services workers from the police, Red Cross, fire departments and beyond, saying, "without these helpers we would be lost." He also implored citizens to "follow the rules."
Though Bavaria and Baden-Württemberg were most directly affected, with heavy rains and thunderstorms continuing on Saturday, the eastern states or Saxony and Thuringia also began experiencing inclement weather with heavy rain in the forecast. Several major events in the area were canceled as a precaution.
Gautam Adani: Asia's top richest man
Billionaire Gautam Adani has overtaken Reliance Industries chairman, Mukesh Ambani to reclaim the tag of richest Indian. Ranked 12 on the Bloomberg Billionaires Index, he is also Asia's richest man. Ambani stands a spot lower at 12.
The Adani Group chairman had a net worth of $111 billion as of 6 pm on Saturday, according to the Index while Ambani was at 109 billion dollars. The surge in group stocks has again taken Adani ahead of Ambani.
Shares of all Adani Group companies surged on Friday after Jefferies said the group is on an expansion spree, on the back of $90 billion in capital expenditures over the next decade.
Adani Group stocks added as much as Rs 1.23 lakh crore in investor wealth, taking their total market capitalisation to Rs 17.94 lakh crore intraday. By the end of trading hours, the shares had added Rs 84,064 crore in market value, taking the market capitalisation to Rs 17.51 lakh crore.
Source: NDTV
China state firms targeted by U.S. lawmakers for allegedly helping Iran
Treasury should probe 6 companies that assist Tehran in evading sanctions, letter says.
Republican legislators on the House of Representatives' influential China-focused committee on Friday urged the U.S. to investigate six Chinese state-owned companies for allegedly helping Iran evade U.S. sanctions.
The Department of Treasury should provide an analysis on whether the activities of state-owned military, oil and shipping companies and their subsidiaries should be subject to secondary sanctions for assisting Iran's energy sector and military, the lawmakers said in a letter sent that day.
The six companies targeted by the House Select Committee on the Chinese Communist Party are China North Industries Group, Aviation Industry Corp. of China, China Ocean Shipping , China National Offshore Oil Corporation (CNOOC), CRRC, and China Petroleum & Chemical (Sinopec).
The group alleges that subsidiaries of CNOOC have participated in projects with the U.S.-sanctioned entity National Iranian Oil, while Sinopec helped develop an oilfield and may continue to be involved in other parts of the development.
The U.S. lawmakers say that American financial institutions have made billions of dollars of investments in these companies, and dozens others that bolster China's military capabilities and also support egregious human rights abuses in the country.
'Many of these companies even appear to engage in activities that violate existing U.S. sanctions against Iran. As a result, U.S. retirees are likely indirectly funding activities that run counter to U.S. national security and international stability,' read the letter, signed by Chairman John Moolenaar and 11 Republican members.
The bipartisan House committee was formed in January 2023 to tackle security threats from China. It has produced a raft of proposals to combat Beijing's influence and capabilities.
Iran's main revenue comes from oil, but Western sanctions have barred it from shipping or receiving payments for oil. Over the years, Iran has developed means to export its oil, with the latest report from the International Energy Agency putting the country's oil exports at a five-year high of about 1.29 million barrels per day, with the vast majority going to China.
Source: Nikke Asia
China’s top executives suffer first average pay cut in 2 decades as sluggish economy weighs on listed firms
The average annual salary of top executives at Chinese listed companies fell for the first time in two decades last year, according to a study of over 5,000 annual reports, as companies’ profitability was dented by the sluggish economy.
The average last year stood at 1.66 million yuan (US$229,000), representing a 3.27 per cent decrease from 2022, according to the study by Shanghai Rongzheng Enterprise Consulting Service Group released on Tuesday.
The study also showed the average annual pay for chairmen fell by 3.32 per cent from 2022 to 1.32 million yuan last year, while salaries for general managers, board secretaries and chief financial officers declined by 3.46 per cent, 1.12 per cent and 3.82 per cent, respectively.
The consulting firm has been tracking executive pay at Chinese listed companies since 1999. Its findings were drawn from the annual reports of 5,326 listed companies published as of April 30.
The highest-paid executive last year was Li Ge, chairman of biotech firm WuXi AppTec, who earned around 42 million yuan before tax, which was about the same amount he received in 2022.
His salary easily eclipsed the 26.63 million yuan earned by Li Xiting, the chairman of medical equipment manufacturer Mindray Bio-Medical, and the 26.28 million yuan for Li Bin, the vice-president of agricultural and technology firm Tongwei.
Li Bin was the best-paid executive in 2022 with a salary of 86.5 million yuan, but suffered a nearly 70 per cent pay cut last year.
Remuneration for executives at several other firms, including dairy giant Yili Group, pharmaceutical firm BeiGene and electrical appliance manufacturer Midea Group also topped the 10 million yuan threshold.
The overall dip in pay, though, mirrored broader patterns of stagnating or falling wages in China in the last year, as companies navigated the third year of an economic downturn and turbulent market conditions.
Overall, net profits for listed companies last year fell by 1.45 per cent from 2022, Rongzheng’s report said.
A survey released in March by professional services firm KPMG China of around 1,110 business executives and professionals based in mainland China and Hong Kong found that only about 53 per cent received a pay increase last year.
The survey also showed 40 per cent saw no change, while 7 per cent suffered pay cuts.
At the C-suite level, only 19 per cent received a salary increase of 10 per cent or more, compared with 23 per cent in 2022.
The decline has been particularly felt in the financial sector, which has been a primary target of Beijing’s crackdown on corruption and excess, with salaries at China’s 10 biggest brokerages all falling last year.
Pay was also slashed at struggling Chinese property giant Vanke, where eight senior executives voluntarily gave up their annual bonuses for 2023 in light of the company’s net profits having plunged by 46.4 per cent from the year before.
Three of its top executives, including chairman Yu Liang and president Zhu Jiusheng, also said they would voluntarily reduce their salaries this year to 10,000 yuan (US$1,379) per month before tax, according to Vanke’s annual report released in March.
Between 2017, when Yu became the chairman of the state-backed developer, and 2020, he received an annual salary of over 11 million yuan, peaking at 12.53 million yuan in 2018, according to financial data provider Wind.
In 2021, following the coronavirus pandemic and property market downturn, Yu gave up his annual bonus, taking home a salary of around 1.45 million yuan that year, according to Vanke’s annual report.
Overall, the use of equity incentive schemes at A-share firms – companies listed in Shanghai or Shenzhen – fell by around 14 per cent from 2022, encompassing the use of incentives as well as stock options and restricted stocks, according to Rongzheng’s report.
“The data also reflects that domestic market confidence has not been fully restored in 2023,” Rongzheng wrote on its official WeChat account, adding that it nonetheless believed the use of equity incentives would pick up again.
Source: South China Morning Post
