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Malaysia, Indonesia sign MOU to enhance defence cooperation

August 9, 2022 by www.theedgemarkets.com

- A + A KUALA LUMPUR (Aug 9): Malaysia and Indonesia deepened their defence cooperation with the signing of a Memorandum of Understanding (MOU) on Tuesday (Aug 9), encompassing five main scopes. Senior Defence Minister Datuk Seri Hishammuddin Tun Hussein said the MOU involves the sharing of information on defence issues, as well as cooperation between the two armed forces at various levels including exchange of officers, military training and education. “Apart from that, it also covered bilateral dialogue and negotiations on strategic defence and military issues based on joint interest in defence science and technology, as well as defence industry,” he said in a statement. Earlier, Hishammuddin and Republic of Indonesia Defence Minister Prabowo Subianto chaired the 42nd General Border Committee meeting between Malaysia and Indonesia at Wisma Perwira here. Hishammuddin said the meeting focused on efforts to bolster defence cooperation and socio-economic … [Read more...] about Malaysia, Indonesia sign MOU to enhance defence cooperation

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Biden to sign bill to boost US chips, compete with China

August 9, 2022 by www.theedgemarkets.com

- A + A WASHINGTON (Aug 9): President Joe Biden on Tuesday will sign a bill to provide US$52.7 billion in subsidies for US semiconductor production and research and to boost efforts to make the United States more competitive with China's science and technology efforts. The White House is touting investments that chip companies are making even though it remains unclear when the US Commerce Department will write rules for reviewing grant awards and how long it will take to underwrite projects. The chief executives of Micron, Intel, Lockheed Martin, HP and Advanced Micro Devices will attend the signing, set for 10am EDT, as will cabinet officials and auto industry and union leaders, including United Auto Workers President Ray Curry, the White House said. Also attending will be governors of Pennsylvania and Illinois, the mayors of Detroit, Cleveland and Salt Lake City, and lawmakers. The White House said the bill's passage was spurring new chip investments. It noted … [Read more...] about Biden to sign bill to boost US chips, compete with China

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Biden to sign USD 280 billion chips act in bid to boost US over China

August 9, 2022 by www.moneycontrol.com

US President Joe Biden US President Joe Biden is preparing to sign a USD 280 billion bipartisan bill to boost domestic high-tech manufacturing, part of his administration's push to boost US competitiveness over China. The Rose Garden ceremony on Tuesday will include lawmakers, union officials, local politicians and business leaders, the White House said, as the president looks to highlight a new law that will incentivise investments in the American semiconductor industry in an effort to ease US reliance on overseas supply chains for critical, cutting-edge goods. We are going to invest it in America, Biden said on Friday. We're going to make it in America. We're going to win the economic competition of the 21st century in America. The White House said Micron is announcing a USD 40 billion plan to boost domestic manufacturing of memory chips, and Qualcomm and GlobalFoundries are announcing a USD 4.2 billion expansion of an upstate New York chip plant. … [Read more...] about Biden to sign USD 280 billion chips act in bid to boost US over China

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Biden signs chips bill, unleashing subsidies for US production

August 10, 2022 by www.theedgemarkets.com

- A + A (Aug 9): President Joe Biden signed into law a broad competition Bill on Tuesday that includes about US$52 billion to boost domestic semiconductor research and development, calling it a “once-in-a-generation investment in America itself”. “We need to make these chips here in America to bring down everyday costs and create jobs,” said Biden at a signing ceremony for the CHIPS and Science Act on the White House South Lawn, joined by executives from US semiconductor firms and congressional leaders. Biden said he had visited the US facility where Javelin missiles were made and said the Bill would make the nation less reliant on other countries to provide the advanced chips needed for those weapons systems, as well as other products. “Unfortunately, we produce 0% of these advanced chips and China is trying to move way ahead of us to manufacture these sophisticated chips as well,” said Biden. “It’s no wonder the Chinese Communist Party actively lobbied US … [Read more...] about Biden signs chips bill, unleashing subsidies for US production

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Biden signs bill to boost U.S. chips, compete with China

August 10, 2022 by business.inquirer.net

WASHINGTON- President Joe Biden on Tuesday signed a landmark bill to provide $52.7 billion in subsidies for U.S. semiconductor production and research and to boost efforts to make the United States more competitive with China’s science and technology efforts. “The future is going to be made in America,” Biden said, calling the measure “a once-in-a-generation investment in America itself.” Biden touted investments that chip companies are making even though it remains unclear when the U.S. Commerce Department will write rules for reviewing grant awards and how long it will take to underwrite projects. Some Republicans joined Biden on the White House lawn to attend the signing of the chips bill that was years in the making in Congress. The chief executives of Micron, Intel, Lockheed Martin, HP and Advanced Micro Devices attended the signing as did governors of Pennsylvania and Illinois, the mayors of Detroit, Cleveland and Salt Lake City, and lawmakers. The White House said the … [Read more...] about Biden signs bill to boost U.S. chips, compete with China

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Opinion: Biden’s Afghanistan exit decision looks even worse a year later

August 9, 2022 by edition.cnn.com

Peter Bergen is CNN's national security analyst, a vice president at New America and a professor of practice at Arizona State University. Bergen's new paperback is "The Rise and fall of Osama bin Laden." from which this article is, in part, adapted. The views expressed in this commentary are his own. View more opinion on CNN. (CNN) In 1961, after a CIA-backed invasion of Cuba failed spectacularly, President John F. Kennedy said of the Bay of Pigs fiasco, "Victory has 100 fathers and defeat is an orphan." Peter Bergen Last week, President Joe Biden took a victory lap when he announced that the US had tracked down and killed its most wanted terrorist, al Qaeda leader Ayman al-Zawahiri, who was living in a house in Kabul, Afghanistan. Don't expect a similar celebration on August 30, the first anniversary of the US troop withdrawal from Afghanistan, which ended the longest war in American history. Any realistic assessment of that action shows that it … [Read more...] about Opinion: Biden’s Afghanistan exit decision looks even worse a year later

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Bibek Debroy writes: India’s economy is better placed than its peers, other economies around the world

August 8, 2022 by www.moneycontrol.com

Representative image Impostor syndrome seems to be more common than actually thought, though at a collective level. People may often feel that the groups they are affiliated with may be underperforming in comparison to other groups. Although this self-critical approach may work in certain cases, it may also overlook the positives, and decrease the morale of those affiliated with the group. Many in India seem to have a collective/national-level impostor syndrome. While the Indian economy is much better placed than its peers in the emerging markets, and other economies, the government is being criticised on the economic front. The criticism comes when the fundamentals of the Indian economy are robust, despite the exogenous shocks caused by the COVID-19 pandemic, supply chain disruptions, monetary policy tightening by the US Federal Reserve, the Ukraine-Russia conflict, and inflated crude oil prices. India's macroeconomic health remains robust despite external pressures, and ongoing … [Read more...] about Bibek Debroy writes: India’s economy is better placed than its peers, other economies around the world

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Oil Prices Jump As Russian Oil Supplies Halted To Eastern Europe

August 9, 2022 by www.forbes.com

Share to Twitter Share to Linkedin Topline Ukraine’s suspension of Russian oil to Eastern Europe sent oil prices soaring Tuesday morning, after Russian oil company Transneft announced Ukraine had not received transfer fees for the oil for nearly a week due to Western sanctions, renewing fears of supply shortages. Key Facts Brent Crude Oil shot up 1.13% Tuesday morning, hitting $97.78 per barrel, while West Texas Intermediate increased 1.3%, to $92.06, following the announcement from Transneft , Russia’s pipeline monopoly. Transneft wrote in a statement obtained by Reuters that it had paid a transfer fee to Ukraine, but the money was returned because of European Union sanctions against Russia for its ongoing invasion of Ukraine. Ukraine’s decision to halt Russian oil affects the southern leg of the Druzhba pipeline, which feeds Hungary, Slovakia and the Czech Republic, according to Transneft. Hungary ’s oil reserves now sit … [Read more...] about Oil Prices Jump As Russian Oil Supplies Halted To Eastern Europe

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Super Bowl’s “Taste Of the NFL” – The Best Food Event You Never Heard Of

February 9, 2012 by www.forbes.com

Share to Twitter Share to Linkedin The Cake Boss made sure this Super Bowl dessert would be sweet for fans of both teams. In my last post , I wrote about how impressed I was with Indianapolis as a tourist city and as a host for what had to be the smoothest, best run Super Bowl imaginable. In a week filled with parties, big name concerts and all sorts of VIP events, the Taste of the NFL and its Party With A Purpose took the cake - except in this case the cake was a huge depiction of a football field complete with edible Eli Manning and Tom Brady jerseys and even the Vince Lombardi Trophy. The thing that makes this event so notable is that it is not new and not specific to any host city - it has been held for 21 straight years of Super Bowls, and will be held again next year (2013) in New Orleans, and after that in New York, and then Phoenix. My suggestion? Buy a ticket. The cool thing is you don’t have to be going to the game, which for most … [Read more...] about Super Bowl’s “Taste Of the NFL” – The Best Food Event You Never Heard Of

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Editor Daily Rundown: Joe Biden Deeply Unpopular With Voters

March 11, 2022 by dailycaller.com

BIDEN DEEPLY UNPOPULAR WITH VOTERS… WSJ: Biden, Democrats Lose Ground on Key Issues, WSJ Poll Finds WASHINGTON—President Biden and his fellow Democrats have lost ground to Republicans on several of the issues most important to voters, a new Wall Street Journal poll finds, a troubling sign for the party seeking to extend its controlling majority of Congress for another two years. The new survey showed that 57% of voters remained unhappy with Mr. Biden’s job performance, despite favorable marks for the president’s response to the Russian invasion of Ukraine and a recent State of the Union speech, which provided him an opportunity to directly speak to millions of Americans. Just 42% said they approved of Mr. Biden’s performance in office, which was virtually unchanged from the previous Journal poll in mid-November. Meanwhile, Democratic advantages narrowed over Republicans on issues related to improving education and the Covid-19 response. A 16-percentage-point Democratic edge … [Read more...] about Editor Daily Rundown: Joe Biden Deeply Unpopular With Voters

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