A proposal to build nuclear reactors in Australia is incompatible with the country’s rollout of renewable energy, the country’s energy minister has said.

In a speech to the National Press Club (NPC) in Canberra on Wednesday, Chris Bowen – the Minister for Climate Change and Energy – said Australians will have to make a choice between “reliable” renewables and “risky” nuclear reactors at the next general election, which must be held by May 2025, Xinhua news agency reported.

It was Bowen’s first major speech since Peter Dutton, leader of the opposition coalition, in June revealed a plan to repeal Australia’s ban on nuclear power and build seven nuclear power plants at sites of retiring coal-fired power stations around Australia by 2050 if he is elected prime minister.

Bowen said on Wednesday that nuclear power in Australia is not a viable economic option and would put private investment in the renewables rollout at risk. The governing Labor Party has committed to a target of 82 per cent of Australia’s electricity coming from renewable sources by 2030.

“Their ideological pursuit of nuclear reactors in two decades’ time would wreck the renewables rollout now,” Bowen said.

“We don’t have the luxury of delaying investment in new generation for another 15 or 20 years while we wait for a new form of generation that Australia has never had.”

Under Dutton’s plan, the first two nuclear reactors would be operational between 2035 and 2037.

An expert report published by national science agency the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Energy Market Operator (AEMO) in May found that the earliest operation date would be 2040 for a small reactor and years later for a large-scale reactor.

The same report found that a large-scale nuclear reactor would generate electricity at more than twice the cost of solar photovoltaic (PV) technology. AGENCIES

South Korean Defence Minister Shin Won-sik on Wednesday called for firm readiness against North Korea’s “provocations”, his office said, amid the North’s “repeated threat” to respond to anti-Pyongyang leaflets sent by South Korean activists.

Shin made the remark in a meeting of top military commanders that was held to discuss potential provocations North Korea may stage and South Korea’s response capabilities against such threats, Yonhap news agency reported, citing the defence ministry.

The meeting came a day after the influential sister of North Korean leader Kim Jong-un warned that South Korea will face “gruesome and dear” consequences if it lets North Korean defectors continue to send anti-Pyongyang leaflets to the North, just two days after she issued a similar statement Sunday.

Also discussed in the meeting was maintaining a firm readiness in response to ongoing downpours that have pummeled the greater Seoul area and providing support for recovery efforts in flood-hit areas, the ministry said.

The ministry warned against the possibility of land mines planted by the North flowing into the South due to heavy rain and advised the public not to touch suspected land mines or suspicious objects in the border area. AGENCIES

Thai Prime Minister Srettha Thavisin has ordered an investigation after six foreign nationals were found dead at a hotel in downtown Bangkok.

Police have dismissed earlier reports that they were killed following a shooting.

Metropolitan Police Bureau Commissioner Thiti Saengsawang said the bodies of three men and three women were found in a single hotel room on Tuesday and the cause of the deaths has not been confirmed, Xinhua news agency reported.

He said initial investigations suggest that the incident may have been linked to poisoning, as suspicious substances were discovered in the hotel room and no signs of struggle were found at the scene.

Prime Minister Thavisin has ordered the investigation into the incident to “prevent any impact on the public”. AGENCIES

 A senior Russian official said that Ukraine’s accession to the North Atlantic Treaty Organization (NATO) would be not just a direct threat to Russia but a delayed declaration of war, local media reported on Wednesday.

Russia does not pose a threat to NATO, has no plans to attack NATO member countries, and certainly does not aim to harm their residents, Dmitry Medvedev, Deputy Chairman of Russia’s Security Council, was quoted as saying.

Any attempts to advance hostile interests in Ukraine or other countries close to Russia will continue to be met with appropriate resistance, he said.

“The more such attempts there are, the tougher our responses will be. Whether the entire planet will be torn to shreds as a result depends solely on the prudence of the other side,” he added.

AGENCIES

At least 35 people were killed and 250 others were injured as rainstorms and flash floods swept through east Afghanistan’s Nangarhar province, a local official said late on Monday evening.

The disaster, according to Nangarhar’s provincial director for information and culture Qurishi Badlon, on Monday afternoon affected the provincial capital of Jalalabad, Sukh Rod District and their neighbouring areas in the province bordering Pakistan, Xinhua news agency reported.

The casualties are expected to rise, the official added.

A similar natural disaster also claimed five lives in Nangarhar’s neighbouring Kunar province hours earlier on Monday morning.

Heavy rains and flooding have killed more than 400 and rendered thousands homeless since May in the war-torn country. AGENCIES

At least 24 people lost their lives in water-related accidents in Mongolia during the national holiday known as Naadam, the country’s National Emergency Management Agency (NEMA) reported on Tuesday.

Naadam, renowned for its traditional sports such as wrestling, archery, and horse racing, is an official holiday celebrated annually from July 11 to July 15, reported Xinhua news agency.

Twenty-two of the victims were adults and the two others were children, the emergency agency said in a statement.

Specifically, five people aged between 21 and 43 drowned in the Green Lake in Ulaankhus soum of the western province of Bayan-Ulgii on Sunday.

One of them drowned while swimming, and the others tragically died trying to rescue him.

Water levels in major rivers throughout Mongolia have exceeded warning levels by up to 40 cm, the agency said, urging the public to take necessary precautions to avoid preventable water-related accidents. AGENCIES

 Samsung on Tuesday announced record pre-orders for its sixth-generation foldable smartphones – Galaxy Z Fold6 and Galaxy Z Flip6. 

In the first 24 hours, pre-orders for Galaxy Z Fold6 and Z Flip6 jumped 40 per cent higher as compared to the previous generation foldables, making the new Z series the most successful in India.In India.

“We are delighted with the consumer response for our new foldables – Galaxy Z Fold6 and Galaxy Z Flip6 in India. The 1.4x growth in pre-orders for the new foldable smartphones shows that Indian consumers are among the fastest adopters of new technology,” said Raju Pullan, Senior Vice President, MX Business, Samsung India.

“Our new foldable smartphones, now in their sixth generation, open the next chapter of Galaxy Al and elevate the user experience to new heights, enabling a range of unique mobile experiences across communications, productivity and creativity. The success of Galaxy Z Fold6 and Galaxy Z Flip6 will help us consolidate our premium segment leadership in India,” said Raju Pullan, Senior Vice President, MX Business, Samsung India.

For Indian consumers, Galaxy Z Fold6 and Z Flip6 are being manufactured at Samsung’s Noida factory.

The new foldables are the slimmest and lightest Galaxy Z series devices ever, and come with perfectly symmetrical design with straight edges. The Galaxy Z series is also equipped with enhanced Armor Aluminum and Corning Gorilla Glass Victus 2, making this the most durable Galaxy Z series yet.

The Galaxy Z Fold6 offers a range of AI-powered features and tools – Note Assist, Composer, Sketch to image, Interpreter, Photo Assist and Instant Slow-mo – to maximize the large screen and significantly enhance your productivity.

Galaxy Z Fold6 starts at Rs 164,999 (12GB+256GB), while Galaxy Z Flip6 is available from Rs 109,999 (12GB+256GB).

In addition to the Galaxy Z Fold6 and Galaxy Z Flip6, Samsung also introduced AI-infused Galaxy ecosystem products- Galaxy Watch Ultra, Galaxy Watch7 and Galaxy Buds3 series which also went on pre-orders on July 10 in India.

Galaxy Watch 7 starts at Rs 29,999 and Galaxy Watch Ultra is priced at Rs 59,999. Samsung’s new Galaxy Buds3 is priced at Rs 14,999 while Galaxy Buds3Pro is priced at Rs 19,999, said the company. AGENCIES

 As the Indian economy remains resilient on its way to become the world’s third-largest one sooner than expected, Singapore’s sovereign wealth fund Temasek is aiming to invest an additional over Rs 83,000 crore (about $10 billion) in the country in the next three years.

The potential sectors Temasek is eyeing for investment in India are healthcare, consumption, financial services, digitisation and sustainability, according to reports.

Ravi Lambah, Temasek’s head of India and strategic initiatives said the new investment will take Temasek’s total investment in India to a massive $47 billion.

The $10 billion potential investment excludes what Temasek subsidiaries will invest in the country, according to the company executive. Temasek has been investing in the country for the last 20 years and its India exposure makes up 7 per cent of its global portfolio by underlying assets, up from 4 per cent in 2020.

The Singapore-based wealth fund has invested in Indian companies like Mahindra Electric Automobile Limited (MEAL), Zomato, Lenskart.

Eyewear retailer Lenskart in June raised $200 million in secondary investment from Temasek and Fidelity Management & Research Company (FMR).

India’s economy is growing rapidly, amid a stock market boom, making it an ideal nation to invest as China falters.

Last fiscal (FY24), Temasek deployed around $3 billion in India, its largest annual investment to date.

The startups in the country raised nearly $7 billion in funding during the first half (H1) of 2024, more than the $5.92 billion raised in H1 2023.

The $7 billion funding included 182 growth or late-stage deals worth $5.4 billion and 404 early-stage deals worth $1.54 billion.

About 99 were undisclosed deals, according to reports. AGENCIES

 The Indian benchmark indices once again opened on a positive note on Tuesday in the run-up to a blockbuster budget next week.

Adani Enterprises, Coal India, M&M, Bharti Airtel and Tata Steel were among major gainers on the Nifty in the opening trade.

While Sensex opened more than 160 points up to reach the 80,839 level while Nifty reached 24,643, over 50 points up.

Market watchers said that in the next few days, the market is likely to anticipate the Budget proposals and respond.

The Union Budget is likely to be growth-oriented and, at the same time, fiscally prudent.

According to market experts, growth is top priority which the government cannot and will not compromise.

Vaishali Parekh, VP, Technical Research, Prabhudas Lilladher said Nifty has been slowly and steadily gaining strength inching every day in the north direction and with the bias maintained strong, has the next initial target of 24900 levels.

“With mid-cap and small-cap stocks also participating actively, the undertone is maintained very positive and can carry on with the positive move further ahead,” Parekh noted.

The Indian indices have continued their upward momentum driven by positive expectations from the upcoming budget and robust foreign institutional investor (FII) inflows, along with better-than-expected results from the IT sector. AGENCIES

 J. D. Vance, a Republican US Senator from Ohio on Tuesday expressed gratitude over being picked as the running mate of US Presidential candidate Donald Trump. 

In a post on social media platform X, Vance said, “Just overwhelmed with gratitude.”

Vance said that Trump, who had delivered peace and prosperity once, would do the same again with people’s support.

“What an honour it is to run alongside President Donald J. Trump. He delivered peace and prosperity once, and with your help, he’ll do it again,” his post read.

“Onward to victory!” he posted.

On Monday former US President Trump wrote on his social media platform Truth Social, “After lengthy deliberation and thought, and considering the tremendous talents of many others, I have decided that the person best suited to assume the position of Vice President of the United States is Senator J.D. Vance of the Great State of Ohio.”

Trump added, “J.D. honourably served our Country in the Marine Corps, graduated from Ohio State University in two years, Summa Cum Laude, and is a Yale Law School Graduate, where he was Editor of The Yale Law Journal and President of the Yale Law Veterans Association. J.D.’s book, ‘Hillbilly Elegy’, became a Major Bestseller and Movie, as it championed the hardworking men and women of our Country.”

He posted: “J.D. has had a very successful business career in Technology and Finance, and now, during the Campaign, will be strongly focused on the people he fought so brilliantly for, the American Workers and Farmers in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota, and far beyond….” AGENCIES