Obama presses China’s Hu on currency, North Korea

U.S. President Barack Obama pressed Chinese President Hu Jintao on Wednesday to let the value of China’s currency rise and sought cooperation in dealing with nuclear standoffs with North Korea and Iran Obama, speaking at a news conference with Hu, touted the mutual benefits of the U.S.-China partnership after the two countries unveiled $45 billion (28 billion pounds) in export deals that seemed to be aimed at papering over deep rifts... [more]

Hong Kong to pass laws to seize Iran-linked assets

Hong Kong said Wednesday it was “striving” to pass legislation to comply with UN sanctions against Iran, after 20 shipping firms in the city were accused of being linked to Tehran’s weapons buildup. Last week, the US Treasury Department slapped sanctions on 24 shipping companies, including four in Britain’s Isle of Man, accused of being fronts for Iranian businesses involved in Iran’s missile programmes. The... [more]

Fresh ‘Shaolin Temple’ goes for drama over kung fu

It’s the kung fu classic that launched the career of a then little-known 17-year-old Chinese martial arts champion called Jet Li. Nearly three decades later, “The Shaolin Temple” has received a blockbuster update, with the backing of the famous center of fighting monks of the title and the setting of the 1982 release. Veteran Hong Kong action director Benny Chan has written a new story and cast some of the biggest names... [more]

China pushes back on renewed U.S. currency calls

Chinese President Hu Jintao on Tuesday flew to the United States for a state visit buffeted before he even lands by senior U.S. senators demanding tough action against China for “manipulating” its currency. Hu said earlier this week he would not accept U.S. arguments the yuan was undervalued. The latest sparring over the currency underlines tensions over trade that will likely dominate Wednesday’s summit in Washington between... [more]

Iran: Sanctions won’t stop nuclear drive

Iran’s president says not even 100,000 U.N. Security Council resolutions will stop his country’s nuclear ambitions. The semiofficial Fars news agency says Mahmoud Ahmadinejad made the remarks during a meeting with a group of journalists Tuesday in Tehran. Iran has hardened its position on its nuclear program ahead of Jan. 21-22 talks with world powers in Istanbul, Turkey. Tehran says it will refuse to talk about its right to... [more]

U.S. senators threaten currency bill on eve of Hu visit

U.S. senators pressed Congress to get tough with China over “manipulating” its currency in a riposte to Chinese President Hu Jintao, who said this week he would not accept U.S. arguments the yuan was undervalued. The latest sparring over the yuan underlines tensions over trade before Hu arrives in Washington on Tuesday for talks expected to focus on a host of thorny issues, from rebalancing the global economy to dealing with... [more]

UN atomic expert downplays China nuclear ‘breakthrough’

China has become one of only a handful of countries that can reprocess spent nuclear fuel but is not yet capable of doing so on an industrial scale, a UN atomic expert said Monday. Earlier this month, the China National Nuclear Corporation said it had achieved a significant “breakthrough” by developing a fuel reprocessing technology that will extend the lifespan of Beijing’s proven uranium deposits to 3,000 years, from... [more]

SKorea: Nuclear push could bring North’s collapse

A senior South Korean official says North Korea could bring its own collapse if it keeps pouring scarce national resources into its nuclear program and military. Presidential security adviser Chun Yung-woo says in an interview with U.S. public broadcaster PBS that North Korean leaders’ “obsession” with weapons of mass destruction like nuclear weapons would be “a short-cut to their demise.” PBS has posted part... [more]

N. Korea denounces S. Korea-Japan military talks

North Korea Sunday expressed its anger over efforts by South Korea and Japan to seek closer military ties, repeating calls for Seoul to resume talks with Pyongyang first to defuse regional tensions. The fury came after Seoul expressed doubts about the sincerity of Pyongyang’s repeated peace overtures, and instead sought closer military ties with Japan and longtime ally the US against threats from the North. Regional tensions have also... [more]

UN to call for aid to help Sri Lanka flood victims

The United Nations said Saturday it will appeal for emergency flood aid for Sri Lanka, where 32 people have died, hundreds of thousands are homeless and vast rice fields ready to be harvested are now under water. Flooding in the rice fields has disrupted livelihoods of many in the eastern region hardest hit after the heavy rains. The U.N. will issue an appeal in the coming days for money to help replant the fields and compensate people affected,... [more]

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