Breaking News Live July 24: In relief for Kilmar Abrego Garcia, judge bars ICE from taking him into custody
India will restart issuing tourist visas to Chinese citizens from July 24, its embassy in China announced on Wednesday, marking the first such move in five years, as both countries take steps to repair a relationship strained by border clashes and trade tensions, reported Reuters.
The decision follows a period of deep freeze in diplomatic and people-to-people ties after the 2020 Galwan clashes. In the aftermath, India had imposed sweeping restrictions on Chinese investments, banned hundreds of Chinese apps, and curtailed passenger traffic.
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Time of India
5 minutes ago
- Time of India
How China's BYD is operating by remote control to overcome obstacles in India
How China's BYD is operating by remote control to overcome obstacles in India Alisha Sachdev Bloomberg Jul 28, 2025, 14:04 IST IST Visa hurdles for top BYD management, investment roadblocks from the India government notwithstanding, the Chinese carmaker has proved popular with Indian drivers — sales in the first half of this year are nearly touching the total units sold in 2024 China's BYD is forging ahead with its attempts to expand in India despite roadblocks from the government that are preventing the electric vehicle maker from conducting key business dealings there. Like most Chinese companies, BYD has been unable to obtain visas for executives after a deadly clash between Indian and Chinese soldiers in 2020 sparked a major deterioration in political ties. That's seen the EV giant resort to holding board meetings and high-level business interactions in Colombo in Sri Lanka and Kathmandu in Nepal, and even as far away as Singapore, according to people familiar with the matter.
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First Post
5 minutes ago
- First Post
Sex scandal, illegitimate children and more: Why head monk of China's famous Shaolin Temple is under investigation
Shaolin Temple's abbot, Shi Yongxin, known as the 'CEO monk', is under investigation for alleged embezzlement, misuse of temple funds and violating Buddhist vows by having 'improper relationships' and 'fathering illegitimate children'. Authorities have revoked the ordination certificate of the monk who turned the 1,500-year-old temple into a global cultural and commercial brand read more Buddhist abbot Shi Yongxin talks to reporters at the Shaolin Temple in Dengfeng City in China's central eastern province of Henan, May 11, 2006. File Image/Reuters The Shaolin Temple is one of the most iconic religious and cultural landmarks in China. Now, its abbot, Shi Yongxin, has been placed under formal investigation over allegations of embezzlement, financial impropriety and breaches of Buddhist discipline. The case has put a spotlight on years of controversy surrounding Shi, often referred to as the 'CEO monk,' for his role in transforming the 1,500-year-old monastery into a global commercial brand. What are the allegations against Shi Yongxin? A statement released on the temple's official WeChat account confirmed that Shi is suspected of diverting and misusing project funds, as well as temple-owned assets. Beyond financial wrongdoing, he has been accused of long-term 'improper relationships' with multiple women and fathering at least one child — accusations that go against the Buddhist vow of celibacy. STORY CONTINUES BELOW THIS AD The statement noted that the 59-year-old abbot is currently under a 'joint investigation by multiple departments,' adding that more details will be made public as the inquiry progresses. In a move highlighting the seriousness of the accusations, the Buddhist Association of China announced on Monday that it had revoked Shi's ordination certificate — a document that grants official recognition of monastic status. The association condemned his alleged actions, stating: 'Shi Yongxin's actions are of an extremely egregious nature, severely tarnishing the reputation of the Buddhist community and damaging the image of monastics.' Shi has not made any public statement responding to the charges, and attempts by international media to contact him have so far received no reply. Who is Shi Yongxin? Born in 1965 in Yingshang, Anhui province, Shi Yongxin — originally named Liu Yingcheng — first arrived at the Shaolin Temple in 1981. He became a disciple of the 29th-generation abbot, Shi Xingzheng, and later assumed responsibility for temple management after his teacher's death in 1987. By 1999, he was formally appointed abbot, a position that placed him at the helm of one of China's most renowned religious sites. Shaolin Temple, located in Henan province's Songshan Mountains, is not only a place of worship but also the birthplace of Chan (Zen) Buddhism and Shaolin kung fu. President of the International Olympic Committee (IOC) Jacques Rogge (L) and Buddhist abbot Shi Yongxin watch martial arts performance at Shaolin Temple in Songshan, central China's Henan province, August 9, 2007. File Image/Reuters The temple is a UNESCO World Heritage Site, revered both for its spiritual legacy and its martial arts traditions that have been celebrated in films, literature and pop culture — including the landmark 1982 movie The Shaolin Temple starring Jet Li. STORY CONTINUES BELOW THIS AD A remake was made in 2011 starring Jackie Chan. Hong Kong actor Jackie Chan (L) holds a giant incense stick with Buddhist abbot Shi Yongxin, while actor Andy Lau (C) looks on, at the Shaolin Temple in Dengfeng, Henan province, October 22, 2009. File Image/Reuters Shi became known as the first Chinese abbot to earn a Master of Business Administration degree, a qualification that would later shape his approach to temple management. Under his leadership, Shaolin transitioned from a historic monastery into a sprawling brand. He licensed the Shaolin name for use in films, cartoons and video games, and built a network of businesses that spanned real estate, publishing, traditional medicine and global tourism. This drive to modernise made him a high-profile figure — but also drew criticism from those who accused him of commercialising the temple's sacred heritage. His frequent appearances abroad, often with an iPhone in hand and photographed alongside figures such as Queen Elizabeth II, Nelson Mandela, Henry Kissinger and Apple CEO Tim Cook, only heightened his reputation as the 'CEO monk.' Russian President Vladimir Putin (2nd R) accompanied by Yongxin (R), head monk of Shaolin Temple, which is famous for martial arts or Kungfu, visits Shaolin Temple in central China's Henan province, March 22, 2006. File Image/China Daily via Reuters In defending his approach, Shi argued that promoting Shaolin culture globally was essential for its preservation. When questioned about his initiatives, he once remarked: 'Cultural promotion is a very dignified undertaking.' STORY CONTINUES BELOW THIS AD After signing a $3 million deal to create a Shaolin branch in Australia, he famously asked: 'If China can import Disney resorts, why can't other countries import the Shaolin Monastery?' What does Shi's tenure at Shaolin tell us? As far back as 2006, Shi faced public anger for accepting a 1 million yuan ($140,000) luxury car from local authorities as a reward for boosting tourism. Responding to the uproar, Shi defended himself, saying: 'Monks are also citizens. We have fulfilled our duties and made contributions to society, so it is only right that we receive rewards.' In 2015, accusations against Shi escalated dramatically when an individual claiming to have insider knowledge posted allegations on Chinese social media. The claims painted him as an embezzler and a womaniser with multiple illegitimate children. The posts included documents dating to the late 1980s, including a supposed birth certificate for one of the abbot's alleged children and photographs of the mother and child. Shi strongly denied the allegations at the time. In an interview with BBC Chinese, he responded: 'If there were a problem, it would have surfaced long ago.' Authorities launched an investigation into the claims but, by 2017, concluded there was insufficient evidence to pursue charges. STORY CONTINUES BELOW THIS AD Despite this, Shi continued to hold prominent positions within China's religious hierarchy. He was re-elected as deputy head of the Buddhist Association of China in 2020, a role he had held since 2002. He also served as president of the Henan Provincial Buddhist Association since 1998 and represented his region in China's National People's Congress from 1998 to 2018. Where is Shi Yongxin now? The present investigation appears to have begun late last week, with the Chinese newspaper Economic Observer reporting that Shi was taken into custody by police in Xinxiang, a city in northern Henan. Social media rumours about his whereabouts increased over the weekend, some even falsely claiming he had attempted to flee to the United States with multiple mistresses and children — a story that authorities quickly dismissed as fabricated. Despite being one of China's most recognisable monks, Shi's public communications have ceased since the news broke. His Weibo account, where he has amassed more than 870,000 followers and typically posts daily, has been inactive since last Thursday. On Monday, his removal as an ordained monk by the Buddhist Association of China added further weight to the unfolding events. The association stated that it 'firmly supports and endorses the decision to handle Shi Yongxin's case in accordance with the law.' STORY CONTINUES BELOW THIS AD What about the Shaolin Temple? Founded more than 1,500 years ago, Shaolin Temple is more than just a religious site; it is an enduring symbol of Chinese culture and martial arts. Under Shi, the temple expanded worldwide, creating over 50 Shaolin cultural centres abroad and staging kung fu performances that reached audiences across continents. Shaolin martial arts students perform at Shaolin Temple in Dengfeng, Henan province, October 13, 2013. File Image/Reuters Critics claim that Shaolin's spiritual values were diluted by aggressive branding and business ventures, while supporters argue Shi helped ensure the temple's relevance in the modern world. With inputs from agencies
Mint
35 minutes ago
- Mint
Valterra Platinum First-Half Profit Falls on Rain-Hit Output
(Bloomberg) -- Valterra Platinum Ltd. said first-half profit fell 91%, after flooding at a key mine cut production and the company incurred costs during its recent spinoff from Anglo American Plc. The Johannesburg-based miner slashed its interim dividend to 2 rand per share, a drop of 79% from a year earlier, according to results released on Monday. Valterra completed its separation from Anglo at the start of June when it also added a secondary listing in London. While the flooding curbed first-half output at its Amandelbult operation by 45%, Valterra still expects to meet its annual target for refined production of 3 million to 3.4 million ounces of platinum-group metals. The impacted mine is the second largest in the South African company's portfolio, after Mogalakwena. The section of Amandelbult that was most impacted by heavy rains in February resumed operations in June and is expected to reach normal production in the current quarter, Valterra said. The company said production of refined platinum-group metals was down 22% to 1.4 million ounces during the first six months of the year, due to lower availability of concentrates and a stock count that takes place every three years. While Valterra and its peers in South Africa – which is by far the world's largest platinum producer – have been tackling a prolonged slump in PGM prices, there have been recent signs of improvement. Platinum and palladium have risen 56% and 37%, respectively, this year – with most of those increases occurring since the beginning of May. Platinum's gains in the first half of the year 'were underpinned by a more favorable macro-backdrop,' while 'strong Chinese buying, attributed to renewed interest from local jewelry manufacturers and investors, met underwhelming supply given relatively low South African production earlier in the year,' Valterra said. (Updates with information throughout) More stories like this are available on
