
China starts building mega-dam in Tibet
A new company called China Yajiang Group was also officially unveiled on Saturday. It will be responsible for constructing the hydroelectric project, consisting of five cascade dams and located near Nyingchi in the southeast of the autonomous region of Tibet, Xinhua said.
The power generated will be mainly sold outside of Tibet, while also being used for local consumption needs, Xinhua said, without providing details of capacity.
The total investment would make the dam one of the costliest infrastructure projects ever undertaken and could contribute to Beijing's efforts to revive economic growth.
However, the dam could also become a source of tension between China and India, as the Yarlung Tsangpo runs through the contested Arunachal Pradesh area and feeds into one of India's major rivers, the Brahmaputra. Beijing has said that there won't be any adverse impact to downstream areas.
The project will include a power transmission project from Tibet to the Hong Kong area, the National Development and Reform Commission said earlier this year.
Studies have shown that the huge gorge in the lower reaches of the Yarlung Tsangpo has potential for 70 gigawatts of electricity generating capacity — more than triple that of the Three Gorges Dam, the largest in the world.
Such a project would represent massive feats of both engineering and diplomacy. Just getting construction and energy transmission equipment to the remote spot would be difficult, before even considering how to work around river rapids that drop 2,000 metres in elevation over a 50km stretch.
The river flows downstream into India and Bangladesh, meaning potential disruptions to water supply that could become international incidents.
Environmentalists in China have long worried about the irreversible impact of dam construction in the Yarlung Tsangpo gorge. The area is home to a national nature reserve and one of the country's top biodiversity hotspots.
India said in January that it had raised concerns with China about the project in Tibet, saying it will 'monitor and take necessary measures to protect our interests'.

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Bangkok Post
a day ago
- Bangkok Post
Conflict spreads to six Thai provinces
Thailand and Cambodia pounded each other with heavy artillery fire for a third day on Saturday, as a border conflict that has killed at least 33 people and displaced more than 150,000 from their homes spread across the contested frontier. Clashes broke out for the first time in the coastal region of Trat where the countries' borders meet on the Gulf of Thailand, around 250 kilometres southwest of the main frontlines that echoed with blasts on Saturday afternoon. AFP journalists in the Cambodian town of Samraong, near the border that has seen the bulk of the fighting, heard the thump of artillery early Saturday afternoon. A Thai villager reached by phone as he sheltered in a bunker in Si Sa Ket province, just 10 kilometres from the frontier, also reported hearing artillery. 'I just want this to end as soon as possible,' Sutian Phiewchan told AFP. Cambodia has accused Thai forces of expanding the offensive deep into its territory against non-military targets including schools, pagodas and residential areas. Thai forces fired heavy artillery shells into several Cambodian areas outside the conflict zone, Khmer Times reported, citing its defence ministry spokesperson Maly Socheata. Thailand has denied targeting non-military sites. (Story continues below) New air strike The Royal Thai Air Force said it sent two F-16s and two Gripen fighter jets to attack Cambodian military targets in the Phu Makua area of Si Sa Ket on Saturday afternoon to intercept Cambodian ballistic weapons. The site had been retaken by Thai troops earlier in the day. Another target was the area of Prasat Ta Muean Thom in Surin, where Cambodian soldiers had set up artillery and personnel to fire into Thailand. The operation successfully destroyed targets at both locations and the aircraft returned to base safely, the air force said. On Saturday, the Thai army also reported clashes in Sa Kaeo, bringing the number of border provinces involved to six out of seven. Both sides say they are open to a truce in the combat now being fought with jets, tanks and ground troops, but have accused the other of undermining efforts to bring about a ceasefire. The Thai army asked people in its border areas to remain vigilant amid concerns that Cambodia may launch Chinese-made missiles capable of reaching targets in a 130km range, according to a post on Facebook. Siwat Rattana-Ananta, the Thai army attache in Beijing, met with Chinese officials on Friday and was assured that the country hasn't supplied Cambodia any fresh weapons since the start of the clash. All the weapons used by Phnom Penh are from prior deals, he said. Cambodia has relied on China in recent years for modernising its defence sector which includes financial and infrastructure support for the renovation of the Ream Naval Base, as well as extensive military cooperation through joint drills and equipment. In contrast, Thailand — a long-time US treaty ally — boasts squadrons of F-16 and Swedish-made Gripen combat jets and modern tanks. (Story continues below) Tensions over temples Tensions initially flared over long-contested ancient temple sites before fighting spread along the rural border region, marked by a ridge of hills surrounded by jungle and agricultural land where local residents farm mostly rubber and rice. Cambodia's defence ministry said on Saturday that 13 people had been confirmed killed in the fighting since Thursday, including eight civilians and five soldiers, with 71 people wounded. Thai authorities said 13 civilians and seven soldiers had been killed on their side, with 33 injured. The death toll across both nations is now higher than it was in the last major round of fighting between 2008 and 2011. The conflict has also forced more than 138,000 people to be evacuated from Thailand's border regions, and more than 35,000 driven from their homes in Cambodia. After an urgent UN Security Council meeting in New York on Friday, Cambodia's UN ambassador Chhea Keo said his country wanted a ceasefire. 'Cambodia asked for an immediate ceasefire — unconditionally — and we also call for the peaceful solution of the dispute,' he told reporters. Thai Foreign Minister Maris Sangiampongsa said Saturday that for any ceasefire or talks to proceed, Cambodia needed to show 'genuine sincerity in ending the conflict'. Both sides have blamed the other for firing first. (Story continues below) Trading accusations Additionally, Cambodia has accused Thai forces of using cluster munitions, while Thailand accused Cambodia of targeting civilian infrastructure, including a hospital hit by shells and a petrol station and 7-Eleven in Si Sa Ket struck by at least one rocket, killing eight civilians. Former prime minister Thaksin Shinawatra visited shelters in Ubon Ratchathani on Saturday to meet evacuees. 'The military needs to complete its operations before any dialogue can take place,' Thaksin told reporters.

Bangkok Post
2 days ago
- Bangkok Post
Investors lock in profits before tariff deadline
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Trump also agreed to reduce threatened tariffs on the Philippines, but only by one percentage point to 19%, while Manila would open up completely to US goods, he said after meeting with counterpart Ferdinand Marcos at the White House. US Treasury Secretary Scott Bessent signalled a 90-day extension of the trade "truce" with China, saying he would meet his Chinese counterparts in Stockholm next week for tariff talks, paving the way for continued trade negotiations and keeping triple-digit tariffs on hold. The EU is preparing to impose counter-tariffs on $117 billion worth of American products, including aircraft, automobiles and bourbon whiskey, if trade talks fail and Washington proceeds with threats to impose 30% tariffs on EU imports starting Aug 1. The European Central Bank kept interest rates unchanged for the first time in more than a year as it looks for clarity on EU trade with the US. 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Nvidia is reportedly facing difficulty delivering its H20 AI chips to China despite recently announcing plans to resume sales, as it had earlier returned production quotas booked with Taiwan Semiconductor Manufacturing Co following a US government ban in April. It may take up to nine months to resume production. Japanese government bonds (JGBs) have been one of the world's most stable securities for decades. However, the 30-year JGB yield this week rose to 3%, the highest since the 2008 subprime crisis, reflecting massive selling. This may raise concern over a new round of financial crisis. South Korea's economy grew 0.5% year-on-year in the second quarter, the central bank said, driven by stronger private consumption and 4.2% export growth, the best in nearly five years. Tesla chief executive Elon Musk said reductions in US government support for EV makers could lead to a "few rough quarters". 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Suvarnabhumi Airport has more airlines serving it -- 113 -- than any other airport in the world, according to data reviewed by FlightConnections as of April 16 this year. The Tourism Authority of Thailand has set a revenue target for 2026 of 2.8 trillion baht, up 5% from this year, while acknowledging risk factors that could repeat some negative trends seen in 2025, such as a 33% decline in Chinese arrivals. Gulf Development, Thailand's largest energy company by market value, has purchased the entire shareholding of the Pak Lay hydropower project in Laos for $128 million. The Government Savings Bank is preparing to launch G-token savings bonds worth 5 billion baht, offering higher returns than market interest rates due to lower issuance costs. These will be sold alongside regular bonds worth 25 billion baht, expected to begin in late August. Real estate developers propose amending property rights laws to promote optimal land utilisation, support foreign investment and megaprojects. 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However, short-term sentiment could be weighed down by tariff uncertainties and the Thai-Cambodian border situation. Top stock picks are BCPG, HMPRO and CHG.

Bangkok Post
2 days ago
- Bangkok Post
Border fighting sparks global concern
The United States, China and Japan have expressed grave concern and urged de-escalation following renewed clashes between Thailand and Cambodia, while France also joined the call for an immediate cessation of hostilities and a peaceful resolution. The heightened tensions, which escalated on Thursday, have prompted calls for restraint and dialogue from the international community. The United States Embassy in Bangkok issued a statement the same day conveying the US's deep concerns regarding the escalation in fighting and alarm over harm to innocent civilians. "The United States is gravely concerned by reports of the escalating fighting along the Thailand-Cambodia border. We are particularly alarmed by reports of harm to innocent civilians. We express our deepest condolences for the loss of life. We strongly urge the immediate cessation of attacks, protection of civilians, and peaceful settlement of disputes," the statement read. Chinese Foreign Ministry Spokesperson Guo Jiakun also addressed the Thailand-Cambodia clashes on Thursday during a Q&A session, part of a regular press conference. Mr Guo said that the Chinese government was deeply concerned and urged both nations to resolve the conflict through negotiation. He emphasised China's commitment to remaining neutral and fair while encouraging dialogue to ease tensions. "Thailand and Cambodia are friends of China, and they both serve as important members of Asean," Mr Guo stated. "Being good neighbouring countries and appropriately managing differences would result in foundational and long-term benefits to both countries. We are deeply concerned by the ongoing situation and hope both countries can resolve conflicts appropriately through negotiation and discussion based on mutual benefits and the mutual needs of every member of the region. China will remain neutral and fair and will continue encouraging negotiation, and play a constructive role in relieving tension." The Japanese Foreign Affairs Ministry's website also published a statement from Foreign Minister Iwaya Takeshion on Thursday, expressing Japan's deep concern over the situation. "The Government of Japan expresses deep concern over military clashes that occurred between Cambodia and Thailand on July 24. "Following a military clash on May 28, tensions have persisted between the two countries, including restrictions on the movement of people and goods across the border. Japan has been working to encourage both countries to de-escalate the situation. A sound relationship between Cambodia and Thailand is extremely important for peace and stability in the region. "Japan urges both Cambodia and Thailand to exercise maximum restraint and strongly hopes that the tension between the two countries will be eased peacefully through dialogue," Mr Takeshion said. Adding to the international chorus, the French Ministry for Europe and Foreign Affairs on Friday issued a statement expressing deep concern over the recent clash. "France would like to express deep concern over the recent clash between Cambodia and Thailand on July 24, 2025, which resulted in several loss of lives, and would like to express our deepest condolences to those families," the statement read. "France would like to call upon Cambodia and Thailand to immediately stop the clash and solve the dispute through international law. "Meanwhile, France would like to suggest French nationals not travel to those border areas. For those who have been residing in that area, please leave the area as soon as possible."