Iran Fires Missile Over Natanz in Unannounced Air Defense Drill

TEHRAN, IRAN — An Iranian air defense test on Saturday in the Natanz region of central Iran caused an explosion heard as far as 20 kilometers from the Chahid Ahmadi-Rochan nuclear complex, according to a military official and local media.

 

“An hour ago, one of the region’s missile systems was tested to assess readiness on the ground, and there is nothing to fear,” said army spokesperson Amir Tarikhani on state television.

 

A “defensive missile was fired in order to test a rapid reaction to a possible attack,” said Iribnews, the television site.

 

The explosion was heard in the sky over the town of Badroud, 20 kilometers from the nuclear power plant, according to the official Irna news agency.

Iranian news agencies earlier reported a large explosion in the sky above Natanz but said there was no official explanation of the incident.

 

The semi-official Fars news agency quoted its reporter in nearby Badroud as saying a short blast was heard that was accompanied by an intense light in the sky.

 

The Islamic Republic says its nuclear ambitions are peaceful.

 

“The residents of Badroud heard the noise and saw a light coming from an object that had just exploded in the sky of the city,” a witness told the agency.

 

The Iranian military’s test comes as talks to save the 2015 Iran nuclear deal resumed in Vienna on Monday after several months.

 

Negotiations are taking place between Iran and the major powers still party to the agreement, Germany, France, United Kingdom, Russia and China, after the United States withdrew from the pact in 2018 under the presidency of Donald Trump.

 

This agreement offered Tehran the lifting of part of the sanctions stifling its economy in exchange for a drastic reduction in its nuclear program and placing under strict U.N. control.

 

On April 11, the Iranian Atomic Energy Organization (OIEA) reported an accident that caused a power failure at its uranium enrichment plant in Natanz, one of the places central to the country’s nuclear program, accusing Israel of being behind it.

 

This factory had the new cascades of centrifuges banned by the Vienna Agreement that had been put into service the day before.

 

Israel has repeatedly stated that it is ready to use any means, including force, to prevent Iran from acquiring a nuclear weapon capability, and Iran has carried out periodic exercises to improve the defenses around its nuclear sites.

 

Source: Voice of America

US Defense Secretary Talks Regional Stability with Japanese Counterpart

SIMI VALLEY, CALIFORNIA — The United States is reaching out to more allies in the Indo-Pacific, hoping to keep tensions in the region from boiling over amid growing concerns about China and North Korea.

 

U.S. Defense Secretary Lloyd Austin spoke by phone Friday with Japanese Defense Minister Nobuo Kishi, agreeing to hold a new round of security consultations soon.

 

A U.S. Defense Department readout of the call underscored Austin’s “commitment to security and stability in the region.”

 

The two officials “discussed efforts to deepen defense cooperation to maintain regional deterrence,” according to the statement. “They also emphasized the importance of close cooperation among the U.S., Japan, and the Republic of Korea.”

 

The conversation between Austin and Kishi came as the U.S. defense secretary wrapped up a two-day visit to South Korea for the 53rd U.S.-Republic of Korea Security Consultative Meeting (SCM).

 

Austin and South Korean Defense Minister Suh Wook agreed to expand Seoul’s role as a provider of security across the Indo-Pacific region.

 

Additionally, a joint communique issued following Thursday’s talks “acknowledged the importance of preserving peace and stability in the Taiwan Strait.”

 

South Korean officials said just what role South Korea would play in the Indo-Pacific, or when it comes to Taiwan, remains under discussion. But Austin and Suh both emphasized a need to continue cooperation with Japan to better address threats from North Korea and in the region as a whole.

 

Earlier this week, former Japanese Prime Minister Shinzo Abe told a Taiwan-based research organization that a potential Chinese military attack on Taiwan would be “a major danger to Japan’s territory.”

 

“A Taiwan emergency is a Japanese emergency, and therefore an emergency for the Japan-U.S. alliance,” Abe said.

 

The remarks by the former Japanese leader sparked anger in Beijing, which summoned Japan’s ambassador for an emergency meeting.

 

A statement from Chinese Assistant Foreign Minister Hua Chunying, further criticized Abe’s remarks, saying they “openly challenged China’s sovereignty and gave brazen support to Taiwan independence forces.”

 

Last month, a senior U.S. defense official, briefing reporters on a new Pentagon report, warned that Beijing appeared to be “preparing for a contingency to unify [Taiwan] by force and … to be able to deter, to delay or otherwise to counter third-party intervention.”

 

The Pentagon announced Friday that U.S. defense officials briefed their Chinese counterparts on the report during what it described as a working-level, virtual meeting

 

The Pentagon said the briefing, which took place Tuesday, was constructive and sought to “build understanding and maintain open channels of communication.”

 

U.S. officials said it was at least the third time defense officials have spoken with their Chinese counterparts since U.S. President Joe Biden took office in January.

 

The Pentagon report also concluded that Beijing is “increasingly willing to confront the United States and other countries in areas where interest diverge,” and warned that China is likely to have at least 1,000 nuclear warheads by 2030.—

 

Source: Voice of America

US Not Panicking Over China’s Newfound Military Might

SIMI VALLEY, CALIFORNIA — Top U.S. defense officials admit recent Chinese military advancements, including the test of a hypersonic weapon system, are reason to worry, but the secretary of defense says if Beijing was hoping to intimidate or scare the U.S., that is not happening.

 

“America isn’t a country that fears competition,” Lloyd Austin told government officials and defense companies in a speech Saturday at the Reagan National Defense Forum in Simi Valley, California.

 

“We’re facing a formidable challenge,” he said. “And we’re going to meet this one with confidence and resolve — not panic and pessimism.”

 

During his speech, Austin addressed China and Taiwan, but he also spoke about Russia, which has tens of thousands of troops massed along its border with Ukraine.

 

The U.S. remains focused on Ukraine, he said, adding that Russia had invaded before, in 2014 when it annexed the Crimean Peninsula. The U.S. is making sure Ukraine has what it needs to defend its territory, Austin said.

 

On Taiwan, Austin said the U.S. is working to deter conflict, not change the status quo. He said the U.S. is seeking open lines of communication with China’s military leaders to prevent miscalculations.

 

Top U.S. military officials have repeatedly raised concerns for months, warning Beijing is “closing the gap” as it aims to surpass the United States as the world’s preeminent military power in the coming decade.

 

Washington’s most senior military officer, General Mark Milley, chairman of the Joint Chiefs of Staff, went as far as to compare China’s hypersonic test in July to Russia’s launch of the world’s first artificial satellite in the 1950s, which sparked the space race that dominated the next several decades.

 

“I don’t know if it’s quite a Sputnik moment, but I think it’s very close to that,” Milley told Bloomberg Television last month. “It has all of our attention.”

A Pentagon report released last month on China’s military power concluded that Beijing is “increasingly willing to confront the United States and other countries in areas where interest diverge,” and warned that China is likely to have at least 1,000 nuclear warheads by 2030.

 

Only Defense Secretary Austin, just back from a trip to Seoul where he met with his South Korean counterpart, has been seeking to lessen the anxiety that has been growing in Washington and elsewhere.

 

During a joint news conference with South Korean Defense Minister Suh Wook this past Wednesday, Austin called China’s hypersonic test “a capability but certainly not the only capability.”

 

“We have concerns,” he said, adding, “My job is to focus on the broader picture.”

 

In prepared remarks Saturday, Austin says the U.S. “has been stepping up its efforts” to counter China’s rise as a military power, looking to pour more money into research and development, and testing, of new systems that will allow the U.S. to be more lethal from afar.

 

He also says money is being spent on drone and stealth technologies, and efforts are being made to make sure existing weapons systems are more resilient, both the physical attack and attacks from cyberspace.

 

“When we maintain our technological edge, we maintain our military edge,” according to Austin’s prepared remarks. “The United States has an advantage that no autocracy can match—our combination of free enterprise, free minds, and free people.”

 

The Defense Department, under Austin, has also been emphasizing stronger ties with allies in the Indo-Pacific, something he emphasized during his visit to Seoul and in a subsequent phone call with his Japanese counterpart.

 

But he says the expansion of traditional alliances, and new efforts such as AUKUS (Australia, the U.K. and U.S.) and the Quad (the U.S., Japan, India and Australia), should not be seen as the first moves in a new Cold War, this time pitting Washington against Beijing instead of Moscow.

 

“We’re not seeking an Asian version of NATO or trying to build an anti-China coalition,” Austin said. “And we’re not asking countries to choose between the United States and China.”

 

“Instead, we’re working to advance an international system that is free, stable and open,” he added.

 

But some of the talks surrounding the strengthened U.S. alliances has rankled Beijing.

Earlier this week, former Japanese Prime Minister Shinzo Abe told a Taiwan-based research organization that a potential Chinese military attack on Taiwan would be “a major danger to Japan’s territory… and therefore an emergency for the Japan-U.S. alliance.”

 

In response, China summoned Japan’s ambassador for an emergency meeting.

 

A statement from Chinese Assistant Foreign Minister Hua Chunying further criticized Abe’s remarks, saying they “openly challenged China’s sovereignty and gave brazen support to Taiwan independence forces.”

 

 

Source: Voice of America

Laos Opens Railway to China as Debt to Beijing Rises

BEIJING — After a blessing by Buddhist monks, Lao Prime Minister Phankham Viphavanh on Friday rode the first run of a $5.9 billion Chinese-built railway that links isolated, mountainous Laos with southern China in an effort to increase trade.

 

Both governments tout the 1,035-kilometer (642-mile) line from the Lao capital, Vientiane to Kunming in China’s poor southwest as a boost to economic growth. But it leaves a debt that foreign experts warn Laos, a country of 7 million people wedged between China, Vietnam and Thailand, might struggle to repay.

 

The railway is one of hundreds of projects under Beijing’s Belt and Road Initiative to build ports, railways and other facilities across Asia, Africa and the Pacific. Poor countries welcome the initiative, but some complain they are left owing too much to Chinese banks.

The first train pulled out of Vientiane following an inauguration ceremony conducted by Chinese President Xi Jinping and his Lao counterpart, Thongloun Sisoulith, over a video link from their capitals, the Lao news agency reported.

 

On Thursday, saffron-robed Lao monks conducted a ceremony for the railway, according to the Lao news agency.

 

The railway is to carry only freight across the border for now due to curbs on passenger travel imposed to contain the coronavirus.

 

The Kunming-Vientiane railway is a link in a possible future network connecting China with Thailand, Vietnam, Myanmar, Malaysia and Singapore. That would give southern China more access to ports and export markets.

 

Chinese contractors are building a high-speed rail line from the Thai capital, Bangkok, to the Lao border. That won’t be completed until 2028 and will leave a gap between the border and the line to China.

Borrowed money makes up 60% of the railway’s investment. Foreign experts say that is unusually high for an infrastructure project and increases the risk that the railway might fail to generate enough revenue to repay its debt.

 

Laos has been one of the world’s fastest-growing economies over the past decade but still is among the poorest. Its average economic output per person more than doubled since 2010 but stands at $2,600.

 

Source: Voice of America

Capitalworks Emerging Markets Acquisition Corp Announces Closing of $230 Million Initial Public Offering, Including Full Exercise of the Underwriters’ Over-Allotment Option

NEW YORK, Dec. 03, 2021 (GLOBE NEWSWIRE) — Capitalworks Emerging Markets Acquisition Corp (the “Company”), a special purpose acquisition company, today announced the closing of its initial public offering of 23,000,000 units at a price of $10.00 per unit, which includes the full exercise of the underwriters’ option to purchase an additional 3,000,000 units from the Company. The units began trading on The Nasdaq Global Market (“Nasdaq”) on December 1, 2021, under the ticker symbol “CMCAU”.

Each unit issued in the offering consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units commence separate trading, the Class A ordinary shares and redeemable warrants are expected to be respectively listed on Nasdaq under the symbols “CMCA” and “CMCAW”. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Barclays was the sole book-running manager for the offering.

A registration statement relating to the securities became effective on November 30, 2021. The offering was made only by means of a prospectus, which forms a part of the registration statement. Copies of the prospectus may be obtained for free by visiting EDGAR on the Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov. Alternatively, copies may be obtained, when available, from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, by email: Barclaysprospectus@broadridge.com, or by telephone: (888) 603-5847.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Capitalworks Emerging Markets Acquisition Corp

Capitalworks Emerging Markets Acquisition Corp is a newly organized blank check company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an acquisition opportunity in any industry or geographic region, it intends to focus on high-growth companies operating in select emerging markets, with the ability to replicate their business models sustainably across other emerging markets or translate their products, services or technologies to developed markets.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for a business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Capitalworks Contact
Cody Slach, Alex Thompson
Gateway IR
(949) 574-3860
CMCA@gatewayir.com

SOURCE: Capitalworks Emerging Markets Acquisition Corp