European Union (EU) member states reached a preliminary deal (Reuters) to channel $47 billion in funding toward the bloc’s semiconductor industry in a bid to compete with massive state support for the sector in the United States and Asia. The deal will also include funding for older chips and research and design facilities. As part of the agreement, the bloc set a target to boost its chip production to 20 percent of global output by 2030. The plan will be funded (AFP) by the existing EU budget as well as by private companies.
“The question now is whether [recent U.S.] industrial policy will set off a counterproductive subsidy race against friends and allies or can instead be implemented cooperatively with them, building on the lessons of the global minimum tax,” New York University’s David Kamin and Fordham University’s Rebecca Kysar write for Foreign Affairs.
WaPo: Leaked Documents Show China Is Preparing Supersonic Spy Drone Capability
The Chinese military could soon use a high-altitude spy drone that travels at least three times the speed of sound, according to leaked documents posted to the social media site Discord and seen by the Washington Post.
Norway/Japan: Norway’s sovereign wealth fund said that it will vote against board nominations (Nikkei) of Japanese companies it invests in that have no female board members. The move by the world’s largest sovereign wealth fund could affect as many as three hundred Japanese-listed companies.
South and Central Asia
UN: India to Become World’s Most Populous Country by Midyear
Tunisian Authorities Close Headquarters of Opposition Party, Arrest Party Leader
Police searched and closed the headquarters (AFP, Al Jazeera) of the Ennahdha party in the capital, Tunis, a day after party leader Rached Ghannouchi was arrested at his home.
Russia/Middle East: Russian state gas company Gazprom is setting up a unit (Reuters) in the Middle East, regulatory filings said. Many Russian companies have sought business in the Middle East amid Western sanctions over the war in Ukraine.
Sub-Saharan Africa
Shelling Continues in Sudanese Capital Despite Cease-Fire Efforts
Air strikes were heard in Khartoum (Bloomberg) today despite regional leaders’ efforts to negotiate a cease-fire between Sudan’s army and the paramilitary group known as the Rapid Support Forces. More than two hundred people have died since fighting began over the weekend.
Africa: Forty-eight million people in Central and West Africa are expected to face acute food insecurity (Reuters) in the coming months amid climate shocks, food shortages, and high food prices, the UN said. The estimate marks the most people in the region at risk of food insecurity in a decade.
Europe
French Publishing Company Criticizes UK’s Arrest of Employee on Terror Charges
The publisher, Editions La Fabrique, said it suspected (BBC) the arrest of an employee en route to the London Book Fair was due to his participation in protests against French pension reform. The case has prompted scrutiny of United Kingdom (UK) and French cooperation under anti-terror laws.
Americas
Mexico’s Top Court Blocks President’s Push to Put New Security Force Under Military Control
President Andrés Manuel López Obrador sought to give the defense ministry (FT) authority over the National Guard rather than a civilian ministry. Critics said that would reduce transparency of the National Guard’s actions.
Brazil: President Luiz Inácio Lula da Silva condemned (The Guardian) Russia’s “violation of Ukraine’s territorial integrity” after he was criticized for saying both countries were responsible for initiating the conflict.
United States
Fox News Agrees to Pay $787.5 Million to Settle Lawsuit Over False 2020 Election Claims
The payment to voting machine company Dominion Voting Systems allows Fox News to avert a trial (AP) that could have revealed that the network knowingly promoted lies about the 2020 U.S. presidential election.
