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May 21, 2023May 21, 2023

G20 Boycott In Srinagar

May 21, 2023 / By Zunair Tahir / World News

A number of G20 nations have either declined to attend a tourist conference due to start in Srinagar on Monday or have not yet confirmed their attendance, dealing a significant blow to India’s efforts to normalize its disputed annexation of occupied Kashmir.

As a result of its foreign ministry spokesperson declaring that his nation “is firmly opposed to holding meetings in disputed territory,” China has taken the initiative in boycotting the event in the occupied zone.

Additionally, according to Indian media, neither Turkey nor Saudi Arabia, two other G20 members who were invited as guests but have not yet confirmed their attendance, nor has Egypt, a non-member of the group but who has not yet submitted a registration form.

It is encouraging to see that these countries have bravely acted in support of the oppressed people of Kashmir.

While Srinagar may be a beautiful location for a tourism conference, all conscientious nations should avoid what is still recognized internationally as a disputed territory due to the suffocating footprint of India’s occupation and the blood of countless Kashmiris shed by Indian forces.

According to reports coming from the seized zone, India is making every effort to “sanities” the environment. Mehbooba Mufti, a former chief minister of IHK, claims that India has carried out “unprecedented… raids, arrests, surveillance, and persecution” in advance of the G20 summit.

According to a recent report by the UN’s special rapporteur on minority rights, India sought to normalize the “brutal and repressive denial” of Kashmiri Muslims’ rights by holding the meeting in Srinagar, and the G20 was “unwittingly providing a veneer of support” for India’s abuses of human rights in the disputed territory.

After annexing the territory in 2019, India’s leaders arrogantly believe that Kashmir is not a topic on the world agenda. However, many people in New Delhi will get a harsh awakening when influential G20 members react to this normalization of profession.

While it is true that realpolitik and a lack of moral principles mostly control the international system, certain major actors are nevertheless prepared to speak up for oppressed peoples all around the world.

What is especially regrettable is that the G20’s Western members, who have been sobbing uncontrollably over Russia’s conquest of Ukraine, have happily endorsed India’s colonization of Kashmir.

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Montana Will Be The First US State To Ban TikTok

May 18, 2023 / By Zunair Tahir / World News

In an effort to shield citizens from Chinese espionage, the Montana governor passes legislation banning TikTok in the state.

Montana became the first US state to outlaw the well-known short video app when Governor Greg Gianforte signed legislation on Wednesday banning Chinese-owned TikTok from functioning there in order to safeguard people from suspected Chinese intelligence collection.

Montana will ban Google and Apple’s app stores from offering TikTok within the state, but it won’t punish users who still use the program. The prohibition, which is set to go into force on January 1st, 2024, will almost certainly run afoul of the law.

ByteDance, a Chinese software company that owns TikTok, declined to comment when asked by Reuters whether it intended to take legal action.

In a previous statement, TikTok claimed that the new legislation “infringes on the First Amendment rights of the people of Montana by unlawfully banning TikTok,” and that it would “continue working to defend the rights of our users inside and outside of Montana.”

Over 150 million Americans use TikTok, but there have been increasing calls from US politicians and state authorities to outright outlaw the app due to alleged Chinese government influence over the service.

Teenagers have adopted the app in record numbers. 67% of US youths between the ages of 13 and 17 use TikTok, and 16% of all teens say they use the app fairly daily, according to the Pew Research Centre. According to TikTok, the “vast majority” of its users are older than 18.

Shou Zi Chew, the CEO of TikTok, was questioned by a congressional committee in March about whether the Chinese government could access user data or affect what Americans saw on the app. However, efforts to outlaw TikTok worldwide or provide the Biden administration greater authority to impose restrictions or outlaw TikTok have not gained traction in Congress.

Republican Gianforte said the legislation will advance “our shared priority to protect Montanans from Chinese Communist Party surveillance.”

TikTok has always denied sharing data with the Chinese government and stated that it would not do so if requested.

TikTok may be subject to fines of up to $10,000 per day if it continues to breach the restriction, according to Montana, which has a population of little over 1 million. Fines might also be assessed for each infraction.

On Apple Inc. and Google device app stores, the quick video app is available for download. If they break the law, Apple and Google, a division of Alphabet Inc., may also be hit with fines of $10,000 per infraction, per day.

Requests for comment from Apple and Google did not immediately receive a response.

The American Civil Liberties Union (ACLU) denounced the bill as “unconstitutional” and pointed out that, if the courts do not intervene, it will take effect on January 1.

Carl Szabo, general counsel for the business association NetChoice, also berated the new regulation. He said in a statement: “The government may not block our ability to access constitutionally protected speech – whether it is in a newspaper, on a website, or via an app.” He added that Montana “ignores the US Constitution, due process, and free speech.”

Gianforte also outlawed the use of any social media applications that gather and provide personal information or data to foreign adversaries on state government-issued devices. He had hoped to persuade the state legislature to extend the ban to other social media applications that provide specific data to foreign adversaries.

Project Texas, a project being worked on by TikTok, establishes a stand-alone corporation to keep user data from American users on US servers run by US tech giant Oracle.

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Louis Vuitton’s (LVMH) Company’s Market Value Hits Over $500 Billion

April 26, 2023 / By Zunair Tahir / World News

You are a significant contributor to this $500 billion company if you are carrying a Louis Vuitton bag.

The French luxury goods behemoth LVMH Mot Hennessy Louis Vuitton SE, also known as LVMH, has surpassed its US$500 billion market valuation to become the first firm in Europe. Despite rising inflation, the company’s fortune is said to have increased as a result of a boom in demand for high-end luxury goods.

Sales are strong in countries like China, but the recent success of LVMH has also been aided by the stronger euro.

Some of the most well-known luxury fashion and lifestyle brands in the world, including Bulgari, TAG Heuer, Christian Dior, Stella McCartney, Louis Vuitton bags, and Moet & Chandon Champagne, are created by the Paris-listed firm.

According to sources, on April 24, LVMH’s shares finished up 90 cents to EUR 902 (about USD 997), bringing the company’s market capitalization above $500 billion.

On the strength of its first-quarter revenues, LVMH earlier in April rose to become one of the top 10 largest corporations in the world. Sales growth recorded for the first quarter of 17% exceeded analyst estimates by a significant margin.

The USD 500 billion market valuation also indicates that LVMH CEO Bernard Arnault’s net wealth has increased.

According to the Bloomberg Billionaires Index, his ownership interest in the business he established and still leads is now valued at over USD 212 billion.

Increasing Bernard Arnault’s Net Wealth

Thus, Arnault not only maintains his position as the richest man in the world but also pulls ahead of Elon Musk, the CEO of Tesla, by USD 47 billion.

The market worth of other luxury brands has increased in addition to LVMH. Hermès International, its main rival, also reported a boost in first-quarter sales of 23% at the beginning of April.

Burberry and Kering, the company that owns Balenciaga and Gucci, have both seen an increase in share prices.

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As China Prepares For A Reopening, Travel Restrictions Are Increasing

January 6, 2023 / By Zunair Tahir / World News

Few days before China removes border restrictions and ushers in an eagerly anticipated resumption to travel for a populace that has been mainly confined to its home for three years, more nations around the world are requiring travellers from China to do Covid tests.

As of this coming Sunday, China will no longer compel incoming travelers to undergo quarantine. This is the most recent renunciation of its “zero-Covid” rule, which was put in place last month in response to protracted demonstrations over oppressive mass lockdowns.

However, the sudden shifts have made many of China’s 1.4 billion people vulnerable to the virus for the first time, sparking an infection wave that is overrunning certain hospitals, depleting the shelves of pharmacies of medication, and raising anxiety throughout the globe.

More than a dozen nations, including Greece, Germany, and Sweden, demanded Covid testing on Chinese travellers on Thursday after the World Health Organization said that China’s official viral statistics was understating the full scope of the outbreak.

Chinese officials and state media have adopted a confrontational stance, defending the outbreak’s management, downplaying the seriousness of the spike, and criticizing restrictions on people’ travel outside.

The Global Times, a publication of the official People’s Daily of the ruling Communist Party, said in an editorial late on Thursday that “certain Western media and some Western politicians will never be happy, no matter how China decides to deal with the Covid-19 crisis.”

The move to require testing of visitors from China has drawn criticism from the international aviation sector, which has been harmed by years of pandemic restrictions. After January 8, China will continue to demand pre-departure testing for visitors.

Some Chinese people believe the reopening was rushed.

“They need to have done a number of things before opening up… a 70-year-old man who identified himself only as Zhao told Reuters in Shanghai that they should “at the very least make sure that the pharmacies were adequately stocked.”

Five further Covid fatalities were recorded on China’s mainland on Thursday, raising the country’s official viral death toll, which is among the lowest in the world at 5,264.

But it runs counter to the reality on the ground, where hospitals are overflowing with elderly people on respirators and funeral homes are understaffed.

According to the Shanghai Morning Post, more than 200 cab drivers in Shanghai are also operating ambulances to accommodate the demand for emergency services.

These optimism, together with government initiatives to support the country’s struggling real estate market, helped the Chinese yuan rise on Friday.

The Shanghai Composite Index and China’s blue-chip CSI300 Index have both increased by more than 2% in the first trading week of the year.

Herald van der Linde, director of equities strategy for HSBC in Asia Pacific, wrote in a note that while the re-opening is “expected to be a rough affair with growing COVID-19 cases and more taxed health systems,” “we economists anticipate growth momentum across Asia to gather pace, driven by China.”

The mainland is also scheduled to open the border with its special administrative territory of Hong Kong on Sunday, for the first time in three years, in anticipation of the significant Lunar New Year celebrations later this month.

On the same day, ferry service between the city and Macau, the epicentre of gambling, will restart.

Cathay Pacific Airways of Hong Kong said on Thursday that it will more than treble its number of flights to mainland China. Flights to and from China are still just a small portion of what they were before Covid.

Over the vacation, authorities anticipate 2.1 billion passenger travels by land, sea, and air, more than twice the 1.05 billion trips made during the same time last year.

In order to reduce the danger of infection for young children, pregnant women, and elderly relatives, the transport ministry has asked individuals to exercise caution.

Southeast Asia is one region that stands to gain significantly from China’s openness since no country there has required Chinese travellers to complete Covid testing.

Many Chinese users have announced their trip intentions on social media, but other individuals are still hesitant.

One WeChat user from Tianjin city warned: “You want to see the world, but the world might not want to see you.

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G20 Boycott In Srinagar

G20 Boycott In Srinagar

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Montana Will Be The First US State To Ban TikTok

Montana Will Be The First US State To Ban TikTok

READ MORE NEWS…

Louis Vuitton’s (LVMH) Company’s Market Value Hits Over $500 Billion

Louis Vuitton’s (LVMH) Company’s Market Value Hits Over $500 Billion

Increasing Bernard Arnault’s Net Wealth

READ MORE NEWS…

As China Prepares For A Reopening, Travel Restrictions Are Increasing

As China Prepares For A Reopening, Travel Restrictions Are Increasing

READ MORE NEWS…

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