Indonesian PPP player secures syndicated sustainability-linked facility | FinanceAsia

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PT Sarana Multi Infrastruktur (PT SMI), a dedicated infrastructure entity under the jurisdiction of Indonesia’s Ministry of Finance, announced recent success in obtaining a $700 million sustainability-linked syndicated term loan facility. The firm serves as a financing vehicle for the development of nationally significant infrastructure projects, through public-private partnerships (PPPs).

“This syndicated loan is intended to refinance existing projects as well as to fulfil new financing needs primarily for sustainable infrastructure projects in Indonesia,” the press release noted.

The new funds will be used to refinance a maturing $700 million offshore syndicated term loan that was first arranged in 2020. The sustainability-linked offering closed on September 13 with aggregate commitments of $1.8 billion and was 2.6 times oversubscribed.

Key performance indicators (KPIs) linked to the facility include growing the company’s sustainability financing portfolio, and increasing the number of employees undertaking environment, social, and governance (ESG) training.

Green opportunity

Speaking to FinanceAsia about the transaction, Colin Chen, head of ESG finance for Asia Pacific at MUFG Bank, which served as one of the transaction’s mandated lead arrangers and bookrunners (MLABs), highlighted the opportunities brought by sustainability-linked financing for companies active in “hard-to-abate sectors,” given no requirements around the use of proceeds.

Kunardy Lie, director of institutional banking at DBS Indonesia – also a MLAB – said his team sees “abundant opportunities” to push the sustainability agenda through green and transition financing solutions in the local market.

Although emerging economies like Indonesia are tasked with driving economic growth alongside a low carbon budget, environmental and socially-conscious funding initiatives can help advance sustainability agendas, Lie noted. He cited the market’s PPP scheme as a policy catalyst which convenes industry players, financial institutions and regulators to establish common practices to approach ESG issues.

First introduced in 2005, the state-backed PPP Project Book lists out a range of infrastructure projects that are open to private sector participation, with a view to bridging the existing infrastructure funding gap and driving Indonesia’s national economy. PT SMI is actively involved in the scheme and acts as a crucial financier in some of the key national infrastructure projects.

“We are excited to support PT SMI in their venture to finance ongoing projects including sustainable infrastructure projects,” Lie said, noting that DBS’s relationship with PT SMI started in February 2020 around the arrangement of the original working capital facility.

Renewables projects, as well as other forms of energy transition segments constitute growing sub-sectors within the domestic infrastructure market, Chen added.

He cited supportive policy initiatives, including the Just Energy Transition Partnership (JETP) which was signed off during last November’s G20 summit, and the country’s rich solar and wind resources as helping to drive Indonesia’s developing green economy.

“We will want work closely with policymakers and the private sector to leverage this important initiative in support of Indonesia’s net zero transition,” Chen said.

“This sustainability-linked syndicated term loan facility is a real example of innovative fundraising, by also implementing our commitment towards sustainability target,” Edwin Syahruzad, president director of PT SMI, commented in the press release.

In addition to DBS and MUFG, the MLABs for the transaction included Bank of China (Hong Kong), CTBC Bank Co., Ltd., Mizuho Bank, and United Overseas Bank (UOB). UOB also acted as the MLABs’ transaction and overall sustainability coordinator for the transaction.

PT SMI and the remaining MLABs did not respond to FA’s requests for comment.

¬ Haymarket Media Limited. All rights reserved.

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DBS, UOB become latest banks to restrict app access if sideloaded apps detected on customers’ phones

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NO MONITORING OF PHONE ACTIVITIES

OCBC was the first to roll out new anti-malware security measures last month, followed by Citibank on Sep 15.

The new moves aimed at nullifying the threat of malware scams have received mixed responses from banking users here, with OCBC customers taking to the local bank’s social media to express their concerns about privacy.

Asked why DBS is pursuing this security measure despite customer concerns, Mr Lam stressed that the latest security features do not monitor phone activities, collect or store any personal data.

“We are detecting the signatures of known malware or the signatures of sideloaded applications.”

DBS has done “a lot of testing” to strike a balance between security and user experience “as well as possible”, he added in an interview with CNA ahead of the announcement.

“For now, it appears (that) scam vulnerability by malware is a major issue and therefore, it is appropriate to strike the balance in favour of protection for now. If this changes over time, then we may be willing to revisit the situation,” he said.

In a press release, DBS Singapore Country Head Han Kwee Juan said: “We recognise that certain measures may add some friction to the customer journey and seek their understanding that they are necessary to ensure that they can perform digital transactions on a secured platform with peace of mind.”

UOB also sought to assure customers that its new security features do not monitor phone activities, nor collect or store any personal data. 

“These features are necessary for enhanced security to mitigate the risks and protect customers’ exposure to malware scams,” said Mr Ng.

“We also seek our customers’ understanding that deployment of the features may lead to some inconvenience.”

Meanwhile, DBS also rolled out a new security check-up dashboard, which hopes to get customers into “the habit of regularly reviewing” their security settings on the banking app.

Users can already access the new feature via the app’s homepage, based on a check by CNA.

Currently, the dashboard will focus on “getting customers to strengthen their core security accesses” before being expanded to include more security features in the coming months, DBS said.

With an increasing number of customers becoming more informed and looking to safeguard their own online security, the bank has been rolling out more of such self-managed security controls.

For example, the payment control features launched in 2021 allow customers to set monthly card spending limits, and indicate their preferences for cash advances and overseas in-store transactions.

Nearly half a million DBS and POSB customers have used these payment control features.

DBS said it has been continuously sharpening its security measures in line with evolving scam and fraud typologies. Together, the new measures announced on Tuesday will add to existing safeguards, including surveillance and monitoring systems.

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Commentary: From mooncakes to durians, here’s how scammers cash in on pricey foods

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STEPS TO STAY PROTECTED

Phishing domains have become more difficult for web browsers to block – today, 60 per cent of them exist for less than 10 minutes. When sellers redirect you to a website or URL link to make payment, it’s best practice to verify the site’s authenticity first by contacting banks, telcos, delivery services or government agencies.

If your smartphone has existing security protections built in, it will give a warning when an app is being sideloaded. Slow down and take time to read through the prompt before pressing “OK”.

Also, before downloading any app – whether from an official app store or a developer’s website – pay extra attention and check the details including user reviews, app permissions, number of downloads and even background of the developer.

For instance, if you find a globally popular app that has only several hundred or thousand downloads, it warrants suspicion that it is a malicious app masquerading as the official version.

In other cases, fake apps often ask for additional authorisations that are not necessary. For example, a calculator app should not be asking for access to your contacts or photos.

To keep your device safe, in addition to the built-in protection of your device’s app store that automatically scans potentially harmful apps, you should always pay attention to prompts or notifications alerting you of any risks.  

Checking the data privacy section available on app stores can give you information on what data the developer is collecting and for what purpose; whether the developer is sharing data with third parties, and the app’s security practices such as whether the data is encrypted.

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9 Budget 2024 recommendations as rocket fuel for Malaysia’s Soonicorns 

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Critical to offer visas for foreign students who study in local universities 
Time has come to implement a Local Technology Procurement Framework

“Soonicorns” or “Soon-to-be-unicorns” are late stage technology companies most of whom have raised venture capital funding and have the potential to become unicorns. 
These late stage companies have gone beyond the…Continue Reading

MAS to increase insurance coverage on bank deposits to S0,000 per customer from April 2024

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SINGAPORE: Starting on April 1, 2024, the Monetary Authority of Singapore announced on Friday( Sep 22 ) that insurance coverage on bank deposits would be increased from SS$ 75, 000 ( US$ 54, 900 ) to S$ 100 000 per customer.

The proportion of totally covered insured lenders may return to 91 % as a result of the increase. Since the last increase in 2019, it has decreased to 89 percent from Mho$ 50, 000 to S$ 75,000. In addition, & nbsp,

In June andnbsp, a public discussion paper was released to solicit opinions on the ideas to improve the insurance coverage per borrower and to enhance the scheme’s operating clarity and effectiveness. & nbsp,

Singapore dollar deposits held at a full bank or finance company in Singapore are insured under the scheme, which is run by the Singapore Deposit Insurance Corporation ( SDIC ). Except for those exempted by MAS, all total lenders and finance companies in Singapore are participants in the system. & nbsp,

In the event that a lender or finance company in the plan fails, the SDIC will now give out up to S$ 75,000 per depositor per establishment.

The respondents supported the increased policy of S$ 100, 000, according to MAS, but a small percentage of them advocated for higher coverage and broadening the policy to include foreign currency reserves. & nbsp,

Each increase in policy, according to MAS, must be carefully considered because doing so will eventually cost institutions money that will be passed on to their clients. & nbsp,

” Our deposit insurance plan’s sufficiency as a safety net & nbsp, as our goal is to protect small depositors,
can be determined by examining the percentage of fully insured lenders, according to the expert.

” At S$ 100, 000, it already fully covers the vast majority( 99 %) of insured depositors under the deposit insurance scheme ,” the statement reads.

Given that the program is intended to protect the main savings of little depositors, which are generally in Singapore dollars, MAS has decided to continue excluding those when it comes to expanding the coverage scope to include foreign currency deposits. & nbsp,

Small depositors now hold a negligible percentage of foreign currency deposits, according to MAS, which also stated that it would keep track of these deposits and regularly review the program. & nbsp,

The plan to implement the raise starting on April 1, 2024, was supported by the majority of the 20 respondents. Some of them asked for a later application date, citing the requirement for stringent person and nbsp approval tests and system enhancement processes. & nbsp,

Additionally, they claimed that there was” inappropriate speed” to meet the deadline because deposit insurance plan participants also had to deal with another program changes, such as the SDIC’s new information distribution requirements.

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JPEX: Hong Kong investigates influencer-backed crypto exchange

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Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in the Hong Kong, China.shabby Images
By Martin Yip, Joel Guinto, andamp
Singapore and the Hong Kong BBC News

Investors reported losses of$ 1.3 billion($ 166 million,£ 134 million ) to the Hong Kong police, who are now looking into allegations of fraud against the cryptocurrency trading platform JPEX.

This year, eleven people, including well-known bloggers, were detained in response to complaints from 2, 000 people.

According to local media, the situation may be one of the biggest scam scenarios in the Hong Kong.

As the Hong Kong positions itself as a world center for virtual goods, it also puts new financial requirements to the test.

The Dubai-based JPEX had been operating without a virtual asset trading license, according to the Hong Kong’s Securities and Futures Commission( SFC ) last week.

The program, on the other hand, claimed that it had” strived to comply” with the native requirement that went into effect in June of this year, but the Commission” dismissed or sidestepped” its work.

According to police, many of the plaintiffs are inexperienced buyers who were promised higher yields. In addition to tapping bloggers, JPEX used massive banners to advertise extensively on the Hong Kong’s MTR teach system.

Authorities were seen escorting Joseph Lam, one of the arrested bloggers, onto a car after his home was raided, according to footage that was broadcast locally on TV. Mr. Lam, a former insurance salesman and barrister, is referred to as the Hong Kong’s” Trolling King” on Instagram.

Mr. Lam demonstrated to his followers in his content how Bitcoin profits may enable them to purchase a home and increase their social standing.

Chan Yee, a 200,000 subscriber YouTube temperament, was also detained.

Since the detention, some JPEX buying has been suspended in the Hong Kong, and it appears that the state’s officials have blocked access to the website.

In response to some users’ complaints that they are unable to withdraw their money, the system has also stated that it is working to address a” liquid shortage.”

Officials will” monitor the situation very carefully and ensure that investors are properly protected ,” according to the Hong Kong Chief Executive John Lee.

He told investigators,” This event highlights the significance that when buyers want to invest in digital assets, they must spend on platforms that are licensed.”

Since the beginning of June this year, the Hong Kong has mandated that digital asset trading systems be licensed by the SFC. That is a byproduct of the later 2022 amended Anti-Money Laundering and Counter-Terrorist Financing laws, which aimed to restore the Hong Kong’s status as the global financial center.

In order for the consumer to better understand dangers and how platforms are regulated, Mr. Lee promised that his government would increase investor education.

Due to the lack of rules and monitoring by central bankers, there have long been worries about cryptocurrencies. Despite this, buyers have been drawn to peer-to-peer digital currencies because of their allure.

One of Asia’s economic centers, the Hong Kong has evolved into a doorway for traders to the island since it was transferred to China from British rule in 1997.
It is currently working to position itself as a gateway for Web 3.0, or the next generation of internet systems, which includes crypto trading. Since late 2021, China has outlawed bitcoin on the island, claiming that doing so” really jeopardizes the protection of people’s property.”

According to Francis Fong, honorary chairman of the the Hong Kong Information Technology Federation, programs like JPEX require licenses in order to guarantee transparency and reimbursement when necessary.

It implies that little negative may occur if there is control. he remarked.

the Hong Kong Police hold press conference on the investigation into the unlicensed virtual asset trading platform JPEX on 19 September 2023.

shabby Images

Yet, some experts in the digital economy have informed the BBC that current laws might not be sufficient to stop the illegal operation of digital asset platforms and to shield investors from losses.

Shareholders in distress have created Facebook groups called” JPEX Sufferers.”

One team part claimed that the prevalence of JPEX’s MTR advertisements lured him to the company. Fung Hei-kin, an online critic, wrote 3,700 likes and 400 reposts criticizing the train operator.

JPEX, which has its headquarters in Dubai, United Arab Emirates, is authorized to promote the business of online resources in the US, Canada, and Australia, according to its website. Its website’s About Us area displays hazy images of what appear to be the three countries’ certificates.

JPEX, which was established in 2020, claimed to have$ 2 billion in assets and to be one of the top five virtual asset markets in the world.

JPEX’s the Hong Kong target was checked by the South China Morning Post, which revealed that Coffee, a co-working company, was residing there.

According to the issue, the shop’s employees were aware of JPEX and had earlier checked the address with the Hong Kong police.

Nine Chen Taiwan celebrity and influencer

shabby Images

According to local press, JPEX also has an office in Taiwan. A new test, however, revealed that it was empty. It once sponsored a boxing fit on the island and used well-known Chinese superstar Nine Chen as its influence.

After the Hong Kong authorities claimed that JPEX was operating without a license, Mr. Chen posted on Instagram last year.

I was trying to understand the scenario after hearing about the JPEX event, but I can’t seem to get in touch with the right people there right now, he said.

” The business is taking care of additional information. I will completely assist if the appropriate products need to look into it, he said.

Related Subjects

On this tale, more

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Investment themes in a polarizing world

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Low with the South Caucus in the spotlight, military conflict danger

According to David Woo’s analysis of survey data from conflict-affected nations, there is less hope that the intensity of military conflict will increase over the next few days. But, as Azerbaijan launched a military operation against Nagorno-Karabakh, tensions are rising in the South Caucasus.

elements of investment in a divided world

David Woo and Scott Foster focus on a variety of investment options related to issues like areas, the tech competition for electric automobiles and semiconductors, reduced need for US Treasuries by BRICS central bankers.

Ukraine signals the transition from an offensive to a protective stance.

Due to a number of factors, such as the lack of trained soldiers, an abundance of ammunition, affected weather protection, and Russia’s heat superiority, James Davis observes signs of Ukrainian troops switching from offensive to defensive operations. The possibility of rising conflicts still exists, though.

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Four companies designated domestic systemically important insurers: MAS

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SINGAPORE: nbsp; In an initial list released on Thursday( Sep 21 ) by the Monetary Authority of Singapore( MAS ), Aia Singapore, Income Insurance, Prudential Assurance, and Great Eastern Life have all been named domestic systemically important insurers. & nbsp;

According to a press release from MAS, insurers whose failures are thought to significantly affect Singapore’s financial system and overall economy will be officially referred to as domestic systemically important insurance companies. & nbsp;

Additionally, they will be subject to regulatory measures that are essentially the same as those put in place by domestically significant banks like DBS, OCBC, and UOB. & nbsp;

Higher cash requirements for carriers are one of these actions. Its higher and lower regulatory treatment levels, as well as its Tier 1 and Tier 2 capital requirements, will be increased by a 25 % capital add-on. & nbsp;

The highest quality cash is Common Equity Tier 1 investment, which also includes surplus from insurance money, retained earnings, and paid-up money. According to MAS, Tier 1 cash consists of both frequent equity and other Tier 1, capital instruments.

According to MAS, the add-on replaces the 25 % higher impact fee that the four carriers must pay under the current system. & nbsp;

Another factor is planning for recovery and quality. & nbsp;

Treatment planning may improve an insurer’s capacity to rebuild its financial viability and strength during a difficult time, according to MAS. & nbsp;

In order to minimize impact on the financial structure and business, resolution planning may improve MAS ‘ ability to ensure the proper and ordered restructuring or exit of an insurance company if it fails. “”

According to MAS, the four businesses are expected to continue providing suitable buffers to meet the new framework’s capital requirements. It also said that it is working with them to plan their treatment.

The nbsp model; On January 1 of the following year, private centrally significant insurers will go into effect. It & nbsp; ” Facilitates the annual impact evaluation of carriers based on their length, interconnectedness, substitutability, and complexity” by formalizing and updating an existing model. & nbsp;

Enhancing the ( domestic systemically important insurers ) framework is part of MAS ‘ ongoing efforts to strengthen the resilience of Singapore’s financial sector, according to Ho Hern Shin, deputy managing director of financial supervision.

It guarantees that local centrally significant insurers are more closely supervised and subject to stricter regulations. “”

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Interest rate for CPF Special and MediSave accounts rises to 4.04% in Q4

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SINGAPORE: The Central Provident Fund’s Special and MediSave Accounts’ ( SMA ) interest rate will rise to 4. The CPF Board and the Housing Board ( HDB ) announced on Thursday( Sept 21 ) that the rate would be 4 % annually in the fourth quarter of this year.

After the price increased to 4, this is the second for raise in as many quarters. Since the floor rate of 4 % was established in 2008, there has been a 1 % increase for the third quarter of this year.

The SMA curiosity price is pegged to the 12-month average yield of 10-year Singapore Government Securities, which is why this is the case, according to a joint media release from the CPF Board and HDB.

At 2, the interest rate on the ordinary account ( OA ) won’t change. The pegged OA rate, the regular interest rate for major local banks over a three-month period, is still below the floor level of 2, so 5 % for the same time period. 5 %.

The CPF Board and HDB stated that the government is keeping a close eye on the interest rate environment in order to make sure the price pegs are still relevant in the current working environment while taking the long-term view into account.

Members of the CPF under the age of 55 will continue to earn an additional 1 % interest on the first$ 60,000( US$ 43,900 ) of their combined balances, which is capped at$ 20,000 for the OA.

The government pays an additional 2 % interest on the first$ 30,000 of the combined balances of CPF members 55 and older, with a cap of$ 20,000 for the OA, and an extra 1 % on any subsequent S$ 30,000.

According to the CPF Board and HDB, any additional interest earned on the OA will be deposited into the member’s Special Account ( SA ) or Retirement Account.

The additional interest will still be earned on a member’s combined accounts, which includes the saving used for CPF LIFE, if he or she is older than 55 years old and enrolls in the program. “”

The HDB cover loan concessionary interest rate, which is estimated to be 0. The interest rate, which is 1 % above the OA, won’t change at 2. 6 % annually for the same time period.

From October 1 to December 31, these interest charges will be in effect.

The RA interest rate for this year will remain at 4 % annually.

The government has extended the 4 % interest rate floor for interest earned on all Special, MediSave, and Retirement Account money for another year from Jan 1 to Dec 31 next year, the CPF Board and HDB also announced on Thursday.

They claimed that this gives CPF people confidence in the face of a volatile interest rate environment.

To ensure that people receive fair and reasonable returns, Pension interest rates have been pegged to business instruments of similar danger and period since January 1, 2008.

CPF members will receive the higher of the floor or pegged rate because the( Special, MediSave, and Retirement Account ) rates will continue to be regularly reviewed. “”

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US curbs Chinese firms over tech shipments to Iran

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Seven people and four organizations in Iran, Russia, China, and Turkey have been sanctioned by the US Biden administration, which is ostensibly trying to show that it is not smooth on Iran after agreeing to a prisoner swap. They have also been charged with providing parts for Tehran’s aircraft system. & nbsp,

Su Chunpeng and his company Shenzhen Jiasibo Technology Co Ltd were sanctioned by the US Treasury’s Office of Foreign Assets Control ( OFAC ) on Tuesday after they allegedly assisted in supplying Iran Aircraft Manufacturing Industrial Company ( HESA ) with aerospace-grade radar altimeter systems, antennas, sensors, and other parts with potential unmanned aerial vehicle ( UAV ) applications. & nbsp,

Dong Wenbo, a Chinese national, was also sanctioned by the OFAC for assisting in the sales of aviation pedal disks to HESA.

Five Americans who had spent years imprisoned in Iran were released from custody on Monday, which led to the punishment. The US consented to the transfer of US$ 6 billion in Egyptian money held in South Korea to Doha-based businesses. Additionally, five Iranians who had been detained in US prisons for breaking US restrictions were freed. & nbsp,

In connection with the Egyptian government’s assault on countrywide protests following the death of Mahsa Amini in the custody of the Morality Police, the OFAC sanctioned 29 people and organizations next Friday. & nbsp,

It blamed Mahmoud Ahmadinejad, the former president of Iran, on Monday for detaining Americans and giving the Iranian Ministry of Intelligence and Security ( MOIS ), a US-sanctioned organization, material support.

Hong Kong’s function

The most recent US sanctions against Su, Dong, and Jiasibo Technology were related to those imposed on March 9 when the OFAC sanctioned five Chinese companies and one person for shipping gentle vehicles and other aircraft parts to Iran, partially through Hong Kong.

Iran was criticized by the OFAC for giving Russia access to its robots during the Ukraine War. Treasury Under Secretary Brian Nelson stated at the time that” Iran is immediately implicated in the Russian human deaths that result from Russia’s usage of Egyptian UAVs in Ukraine.”

Separately, the US Department of Justice announced on Monday that a Russian guy based in Hong Kong has been detained and charged with smuggling US-made, military-grade microelectronics, particularly OLED micro-displays, to Russia.

OLED micro-displays can be used to create infrared magnification, night vision devices, and other weapons systems, as well as rifle scopes.

In order to urge the Hong Kong Monetary Authority ( HKMA ), financial institutions, law firms, consultancies, and industry groups to do more to stop the flow of advanced US technology from the city into Russia, Nikkei reported on July 6 that US Treasury officials had secretly visited the island in the middle of June. & nbsp,

38 items marked” higher focus dual-use goods” were distributed to the attendees of a meeting in Hong Kong by US officials.

China’s Commerce Minister Wang Wentao stated in a conference in Beijing on Tuesday that” under the strategic direction of the two heads of state, the trade and economic cooperation between China and Russia has continued to strengthen and become more reliable ,” according to Maksim Reshetnikov. & nbsp,

Both parties should strengthen cross-border connectivity and deepen reciprocal trade and investment cooperation in the following phase, he said. & nbsp,

the punditocracy’s position

In an article released on Wednesday by the Shangguan News, a new division of the Shanghai administration’s Jiefang Daily, the author claims that” the fact that Washington agreed to switch prisoners with Iran and likewise imposed sanctions on the region showed the conflicts in the US plan.”

The author claims that while the Biden administration wants to advance the prisoner swap deal in order to win over voters, it is still unwilling to make significant changes to US-Iran ties. & nbsp,

Before the US holds its presidential poll the following year, former US President Joe Biden wants to increase his reputation by resolving the humanitarian crises in Iran, according to Sun Degang, director of Fudan University’s Center for Middle Eastern Studies. & nbsp,

However, Sun notes that it is difficult to see any agreements between the US and Iran in the near future with regard to the Iran nuclear issue. Sun claims that since Iran joined the Shanghai Cooperative Organization in July, it has enjoyed more political area while feeling less motivated to enhance its relations with the US.” The US does not want to examine the Iran nuclear deal while the Egyptian government is dominated by traditional politicians.” & nbsp,

In an essay released on Tuesday, a Guangdong-based author claims that China has always been one of Iran’s most reliable allies. Iran has struggled economically in the wake of US sanctions over the past several years. & nbsp,

According to him,” China has actively supported Iran by giving it fiscal aid, essential materials, and modern support.” According to nbsp,” China and Iran are even strengthening their financial assistance, which will provide solid support to the Egyptian economy.”

He continues by saying that a new agreement between Iran and China increased ties between the two countries. In this agreement, Iran will pay the Chinese company for an infrastructure task while also using its crude oil items to settle the debt. He predicts that the two nations’ compassion and respect may continue to grow.

The Imam Khomeini International Airport in Tehran will be expanded thanks to a US$ 2.7 billion offer, according to press reports from August 29. The initiative will span a space of more than 4,000 square feet.

stronger relations between China and Iran

China is developing stronger ties with Iran in addition to having a closer financial relationship with Russia. & nbsp,

Chinese President Xi Jinping and Egyptian President Ebrahim Raisi met in Beijing on February 14. & nbsp,

According to Xi, China is prepared to collaborate with Iran to carry out the detailed cooperation plan, deepen useful cooperation in trade, agriculture, industry, and the development of infrastructure, as well as import more high-quality agricultural products from Iran.

Raisi stated that while Iran is prepared to improve communication with China on international and regional politics, it hopes to work with Beijing to develop markets at all levels.

Study: PLA asserts that the US is stirring up a proxy war for Taiwan in Ukraine.

At & nbsp, @ jeffpao3 is Jeff Pao’s Twitter account.

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