VIF Information Alerts - 17th October 2018

While Pakistan fears debt trap, China says more projects planned under CPEC

Published: Hindustan Times
16 Oct 2018

China said on Tuesday there will be more projects planned under the USD 60 billion China-Pakistan Economic Corridor amid the concern over piling up of debt by Pakistan prompting it to approach the IMF for a bailout package. Cash-strapped Pakistan has formally approached the International Monetary Fund (IMF) for a bailout package as it reeled under serious economic crisis.Click here to read.... [2]

Supersonic missile passes test

Published: Global Times
16 Oct 2018

A South China mining company completed a successful supersonic missile flight test on Monday, prompting a Chinese military expert to suggest the system will face little competition on the international arms market. The test at a discreet location in North China verified the launch, power and flight control systems, according to a statement released on Monday by Guangdong Hongda Blasting Company.Click here to read.... [3]

Progress on BCIM may change India’s attitude

Published: Global Times
16 Oct 2018

While the Bangladesh-China-India-Myanmar Economic Corridor (BCIM) has seen significant progress under the impetus of the Belt and Road initiative (BRI) since 2013, its construction has been held back by misunderstandings and misjudgment on the Indian side.

Expecting bilateral differences to be bridged immediately may not be realistic, because India's misunderstandings of the BCIM haven't been completely eliminated. When it comes to advancing the BCIM and BRI, it is of strategic significance to fully understand and effectively address perception problems between China and India.Click here to read.... [4]

Brexit deal achievable amid drifts with EU, says Theresa May

Published: The Asian Age
16 Oct 2018

British Prime Minister Theresa May on Monday insisted a Brexit deal was "still achievable" despite differences with the EU, but warned against any attempt to "trap" the UK in a permanent Customs Unions, ahead of a crucial Brexit summit in Brussels later this week.

In her statement to the House of Commons, May sought to quell a "great deal of inaccurate speculation" in the media about a falling out with the EU over the issue of managing the open border between UK territory Northern Ireland and EU member-country Ireland once Britain has formally left the economic bloc on March 29, 2019.Click here to read.... [5]

Dhaka, Riyadh to ink defence cooperation deal_ ICT sector cooperation

Published: The Daily Star
16 Oct 2018

Bangladesh and Saudi Arabia are set to sign a defence cooperation deal, to boost their military relationship, when Prime Minister Sheikh Hasina visits the Kingdom tomorrow. Regarding the signing of the “Memorandum of Understanding on Defence Cooperation between Bangladesh and Saudi Arabia” in Riyadh, a highly placed official of the Bangladesh government said the defence pact would initiate a new era of military relationship between Dhaka and Riyadh.Click here to read.... [6]

Pakistan, Russia agree to extend validity of $2 billion deal

Published: The Express Tribune
16 Oct 2018

Pakistan has extended the validity period of a $2-billion deal for the North-South gas pipeline which will be laid by Russia under a government-to-government arrangement. Earlier, the two governments signed an understanding in October 2015 for building the North-South pipeline that would transmit imported liquefied natural gas (LNG) from Karachi to Lahore to satisfy fuel demand of some power plants.Click here to read.... [7]

UAE ‘interested’ in HAL-made light combat aircraft Tejas

Published: The Economic Times
17 Oct 2018

India and the UAE are planning to expand their joint military training with a focus on improving desert operations. Keeping this in mind, the UAE has shown a keen interest in Tejas, the light combat aircraft made by HAL, government officials said.

The issues were discussed between defence minister Nirmala Sitharaman and the UAE’s minister of state for defence, Mohammed Ahmed Al Bowardi Al Falacy, on Tuesday. He is on an official visit to India and will return after visiting the facilities of defence PSUs, Hindustan Aeronautics Ltd (HAL) and Bharat Electronics Ltd (BEL), on Wednesday.Click here to read.... [8]