SEOUL, May 21,2022:President Joe Biden and his new South Korean counterpart will search for ways on Saturday to break a diplomatic stalemate with North Korea, as they worry Kim Jong-un could lash out with new nuclear tests.
Biden and Yoon Suk-yeol will meet in Seoul for their first diplomatic engagement since the South Korean president’s inauguration 11 days ago.
The friendly encounter between allies is clouded by US intelligence showing North Korean leader Kim is prepared to launch nuclear or missile tests.
A senior Biden administration official told reporters on Saturday that the two leaders will discuss nuclear cooperation and that Washington remains ready for diplomacy with North Korea.
But it was unclear how Biden and Yoon would jumpstart talks with the North Koreans, who have rebuffed Washington’s efforts at engagement since Biden took office last year.
Yoon has signalled a tougher line on North Korea than his predecessor and is expected to ask for Biden’s help.
Yoon has warned of a preemptive strike if there is a sign of an imminent attack and vowed to strengthen the South’s deterrent capability.
WASHINGTON,May 20,2022:The top U.S. military officer, General Mark Milley, spoke by telephone with Russia’s Chief of General Staff Valery Gerasimov, the Pentagon said on Thursday, the first conversation between the two since Russia’s invasion of Ukraine in February.
“The military leaders discussed several security-related issues of concern and agreed to keep the lines of communication open,” said a spokesman for Milley, the chairman of the U.S. Joint Chiefs of Staff.
“In accordance with past practice, the specific details of their conversation will be kept private,” the spokesman added.
The U.S. military readout did not mention any specific issues that were discussed.
RIA news agency, citing the Russian defense ministry, said the two military leaders discussed issues of “mutual interest,” including Ukraine.
The call took place after U.S. Defense Secretary Lloyd Austin spoke with his Russian counterpart last week, and the Pentagon chief called for an immediate ceasefire in Ukraine.
The United States and Russia have established a hotline since the invasion – which Moscow calls a “special military operation” – began on Feb. 24 to prevent miscalculation and any widening of the conflict.
New Delhi,May 16,2022: Asia’s richest man Gautam Adani’s group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd’s businesses in India for USD 10.5 billion, marking the ports-to-energy conglomerate’s entry into the cement sector.
The Adani Group will acquire 63.1 per cent of Ambuja Cements Ltd along with related assets. Ambuja’s local subsidiaries include ACC Ltd, which is also publicly traded.
“The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd,” the group said in a statement.
Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements).
“The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD 10.5 billion, which makes this the largest-ever acquisition by Adani, and India’s largest-ever M&A transaction in the infrastructure and materials space,” the statement said.
Holcim in a statement said, “The corresponding offer share prices of Rs 385 for Ambuja Cement and Rs 2,300 for ACC translate into cash proceeds of CHF 6.4 billion (Swiss Franc) for Holcim.”
Adani has in the last couple of years diversified beyond its core business of operating ports, power plants and coal mines into airports, data centres and clean energy.
The group had last year set up two cement subsidiaries – Adani Cementation Ltd which was planning to set up two cement units at Dahej in Gujarat and Raigarh in Maharashtra; and Adani Cement Ltd.
The world’s largest cement maker Holcim last month announced its exit from the country after struggling here for a long. The company through two listed entities ACC and Ambuja has 66 million tonnes per annum capacity (MTPA).