Renesas putting Japan on global chip-making map – Asia Times

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TOKYO – Renesas Electronics plans to acquire printed circuit board electronic design company Altium and gallium nitride power device maker Transphorm with a third major acquisition reportedly in the works, the latest big moves by Japan’s largest integrated semiconductor device maker.

These and previous acquisitions are key to the company’s drive to build a large, profitable and globally competitive semiconductor business spanning automotive, industrial, infrastructure, Internet of Things (IoT), cloud computing, data center and space and defense applications.

In combination with the rationalization of existing operations, the moves to date have been profitable. Since 2016, the company’s consolidated sales have increased by 2.3 times to 1.5 trillion yen (US$9.8 billion) while operating profit margin has risen from 11.0% to 26.6%.

Renesas is a world leader in microcontrollers for the auto industry and also possesses embedded processing, analog, power management, radio frequency, sensor, system-on-chip (SOC) and other semiconductor technologies.

It has its own front-end wafer fabrication capacity in Japan, and some in Florida, but also outsources production to Taiwan’s TSMC and Global Foundries. Its back-end assembly, packaging and test operations are located in Japan, China and Malaysia.

On January 11, Renesas announced the purchase of 100% of Transphorm, an American producer of gallium nitride (GaN) power semiconductor devices with more than 1,000 related patents. The acquisition is likely to be completed in the second half of 2024.

GaN is expected to be the next widely used power semiconductor material after silicon carbide (SiC). Both have applications in electric vehicles (EVs), data centers, renewable energy and industrial power conversion.

Renesas, which signed a 10-year SiC wafer supply agreement with Wolfspeed last summer, plans to start mass production of SiC power devices in 2025. Wolfspeed is the world’s leading producer of silicon carbide wafers.

On February 15, Renesas announced the 100% purchase of Altium, a developer of PCB electronic design software, a deal that is scheduled to close in the second half of 2024. Altium, which pioneered this technology, was established in Australia in 1985 and moved its headquarters to the US in 1991.

The acquisition will facilitate the design and integration of Renesas embedded microcontrollers, analog, power management and network devices, a process that is becoming increasingly complicated.

The plan is to create an “electronics system design and lifecycle management platform” open to third-party vendors using Altium’s cloud computing system for efficient collaboration across component, subsystem and system-level design.

In Japan, Altium competes with Zuken while worldwide it competes with SolidWorks, Autodesk, Synopsis, Cadence Design, Shanghai Tsingyue and several other companies. Collaboration with Renesas should make Altium more competitive and vice versa.

Renesas has growing global ambitions. Image: X Screengrab

On February 20, Renesas extended the expiration date of its tender offer to acquire all the shares of Sequans Communications to March 4. Sequans is a designer of telecom integrated circuits (ICs), transceivers and modules headquartered in Paris. Its 5G/4G solutions are optimized for massive broadband Internet of Things (IoT) applications.

Sequans’ target markets include industrial sites, logistics, enterprise routers, networked vehicles, smart city services, electronic healthcare services and smart homes – in short, almost everything but smartphones. Sequans has worked with telecom carriers Verizon, AT&T, Sprint, T-Mobile, NTT DoCoMo and KDDI.

Since 2017, Renesas has completed seven acquisitions, greatly accelerating its technological advance and penetration of diverse markets while boosting sales, profits and profit margins.

Intersil, a US provider of power management and analog semiconductor devices, was the first of these acquisitions. The two companies’ products are complementary and, like Renesas, Intersil has a strong presence in automotive and industrial markets.

Intersil also makes radiation-tolerant ICs for space and defense applications, from low-earth orbit to the Mars Perseverance rover. These devices are made in Florida.

Spirit Electronics, an IC distributor and test service provider headquartered in Arizona, writes that nearly every satellite in space has a Renesas component on board.

In 2019, Renesas acquired Integrated Device Technology (IDT), a US supplier of analog and mixed-signal (analog and digital on the same chip) ICs and sensors for the communications, computing, consumer, automotive and industrial markets.

This was followed by the acquisition of Dialog Semiconductor and Celeno Communication in 2021. Dialog Semiconductor is a UK-based provider of battery and power management, Wi-Fi, Bluetooth short-range wireless and IoT devices. Celeno is an Israeli provider of Wi-Fi chipsets and software for home and corporate networks, autos, smart buildings and factories.

In 2022, Renesas acquired Reality AI and Steradian. Reality AI is a US developer of software for non-visual sensing in automotive, industrial and commercial environments. Its signal processing, machine learning, monitoring and anomaly detection software enhances the performance of Renesas processors.

Steradian is an Indian semiconductor design company that specializes in 4D imaging radar solutions for automotive, industrial, home security and other applications. 4D radar uses echolocation and time-of-flight measurement to track moving objects.

These are combined with Renesas SoCs for Advanced Driver Assistance Systems (ADAS). The acquisition complements the partnership established by Renesas and India’s Tata Motors and Tejas Networks in 2022.

Last year, Renesas acquired Panthronics, an Austrian semiconductor design company specializing in near-field communications (NFC) chipsets and software. NFC is a short-range technology that enables wireless connections between electronic devices within a few centimeters. Examples include card readers, cell phone payments, boarding passes and wristband healthcare monitoring.

All in all, the acquisitions have transformed Renesas into a truly multinational company. About half of the members of its senior management team are from acquired companies and more than half of its employees are foreign.

Executive meetings are generally held in English while its outside directors have worked overseas, many with foreign companies. CEO Hidetoshi Shibata, formerly executive managing director of Innovation Network Corporation of Japan (INCJ), a Japanese sovereign wealth fund, has an MBA from Harvard Business School.

The Japanese semiconductor industry is not, as it is often portrayed (especially by the Japanese), a failing enterprise desperately seeking its last chance in tie-ups with TSMC and IBM. On the contrary, it is the highly integrated, second-largest piece of the global semiconductor industry, with Renesas at its fast-expanding core.

Follow this writer on X: @ScottFo83517667

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Trump’s NATO rhetoric: art of the deal or art of misunderstanding? – Asia Times

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In the convoluted world of international politics and diplomacy, former president Donald Trump has consistently found himself at the center of controversy, with his every utterance scrutinized and twisted by political opponents both in the US and Europe. 

However, amid the cacophony of criticisms, it’s crucial to take a step back and examine Trump’s actions, particularly concerning the NATO, beyond the inflammatory rhetoric that so often dominates the headlines.

Contrary to the prevailing narrative, Trump’s record on the North Atlantic Treaty Organization reveals a leader who, far from dismantling the alliance, has strategically maneuvered to extract additional commitments from member states, thereby fortifying and expanding NATO’s reach.

The recent brouhaha over his comments about NATO seems to be a deliberate misinterpretation by his adversaries, conveniently overlooking the broader picture of his four-year tenure.

Trump’s unorthodox approach to diplomacy often involves employing bluster and brinkmanship as negotiation tactics. This is nowhere more evident than in his dealings with NATO member states, where he has consistently demanded that they meet the 2% GDP guidance established in 2014 during Barack Obama’s administration.

It’s important to note that Trump’s insistence on burden-sharing is not a novel concept; it aligns with the policy laid out by his predecessor

While critics have accused Trump of threatening NATO’s cohesion, the reality is quite the opposite. Under his administration, some member states stepped up to the plate, meeting or exceeding the 2% threshold, demonstrating a commitment to the alliance’s collective defense. This pragmatic approach has resulted in a strengthened NATO, contrary to the doomsayers who predicted its demise under Trump.

One can’t ignore the fact that Trump played a pivotal role in welcoming new members into the NATO fold. In 2017, Montenegro joined, and in 2020, North Macedonia followed suit. Both these accessions required Trump’s personal approval, with him signing the instrument of ratification for both countries. These actions speak louder than any rhetoric, showcasing a leader actively contributing to the expansion of NATO.

Fast-forward to the present, and NATO’s influence continues to grow. Finland has recently joined, and Sweden is on the verge of becoming a member – developments that would have seemed almost unthinkable just five years ago. This expansion underscores the enduring strength of NATO, directly contradicting the narrative that Trump was bent on dismantling the alliance.

Intriguingly, European Union countries are responding to Trump’s pressure by intensifying their defense efforts, a development that aligns seamlessly with what Trump had advocated. The very countries that once faced criticism for falling short of their financial commitments are now, under the specter of Trump’s insistence, taking tangible steps to fortify their defense capabilities.

Sharing the burden

One telling example of the ripple effect of Trump’s words can be observed in the recent actions of the current prime minister of Poland, Donald Tusk.

Last Monday, during a meeting with German Chancellor Olaf Scholz, Tusk pushed to “generate new momentum” for the Weimar Triangle, a diplomatic format grouping Poland, France and Germany initiated in 1991. Tusk’s proactive approach demonstrates the far-reaching impact of Trump’s stance on NATO, prompting leaders to reassess and strengthen their diplomatic ties.

Furthermore, the same day Scholz engaged in discussions with Tusk, Germany’s and Denmark’s leaders inaugurated a new ammunition factory, underlining Europe’s rush to bolster its defense capabilities in an apparent response to Donald Trump’s call for greater NATO burden-sharing.

With the US shouldering the lion’s share of NATO spending, all of these can be perceived as admirable moves from Europe to step up, not just in words but in deeds, to assert its role as a credible partner of the US.

“A strong Europe is a blessing to the West and to the world.… One hundred years after the entry of American forces into World War I, the trans-Atlantic bond between the United States and Europe is as strong as ever and maybe, in many ways, even stronger,” then-president Donald Trump said during his visit in Warsaw on July 6, 2017.

In a world where perception often trumps reality, it is crucial to separate the rhetoric from the record. Donald Trump, often vilified for his blunt communication style, emerges as a leading advocate for NATO. His unconventional tactics, far from dismantling the alliance, have resulted in tangible outcomes that aim at bolstering NATO’s standing on the global stage.

In a final, wittily sarcastic note, one can’t help but marvel at the irony of Trump being portrayed as a threat to NATO while, in reality, his approach has seemingly worked wonders.

Perhaps the art of the deal, as Trump has long touted, extends beyond the boardroom and into the realm of international diplomacy, where his unorthodox methods have left an indelible mark on the future of NATO.

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House moves to revoke NCPO orders

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Military influence in South to decrease

PUBLISHED : 22 Feb 2024 at 05:46

The House of Representatives on Wednesday agreed in principle with three bills that aim to abolish orders issued by the now-defunct National Council for Peace and Order (NCPO).

The orders restrict public participation in the administration of the restive South while allowing way too much military influence in managing the administrative bodies in the southern border provinces, according to complaints from various political parties.

The three bills which were deliberated one after another and won approval in their first readings in the Lower House on Wednesday.

The bills were proposed by Yunaidee Waba, a Democrat Party MP for Pattani; Chusak Sirinil, Pheu Thai Party deputy leader; and Romadon Panjor, a list MP of the main opposition Move Forward Party.

At the end of Wednesday’s deliberation, the House voted 421-0 to approve the bills in their first reading. It agreed to form a House committee to vet them.

The three orders came under the 14th instruction of the NCPO which was issued in 2016. They have effectively led to the Southern Border Administration Act being rendered partially invalid.

The invalid sections disrupt the function of the advisory council of the Southern Border Administration and Development, which consists of members represented by residents in the far South.

Before the so-called “14th/2016 NCPO” orders were launched, the council had a key role in monitoring the work of the Southern Border Provinces Administration Centre (SBPAC), a key administrative agency, said Mr Yunaidee.

However, when the orders came, the NCPO appointed its own advisory committee to supervise the SBPAC, which was blamed for a drop in the SBPAC’s efficiency and the lack of public participation and input in the centre’s decision-making process, he said.

The NCPO’s advisory committee has also taken over from the council the duty of offering advice on southern border affairs to the prime minister and the SBPAC’s chief, he said.

The NCPO’s orders have also allowed the Internal Security Operation Command, a military organisation, to have influence over the SBPAC, a civilian-run agency, said Pheu Thai list-MP Chaturon Chaisang, in his capacity as chairman of the House special committee monitoring the government’s work to promote peace in the South.

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Philippines arming up for D-Day with China – Asia Times

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MANILA – Wu Shicun, chairman of China’s state-funded Huayang Center for Maritime Cooperation and Ocean Governance, fired a shot across the Philippines’ bow by saying China should “show our swords when necessary” in the South China Sea.

The Chinese maritime expert added that “patience and self-control from China would not be enough” to manage the sea disputes, according to a provocative article he penned this week in the Hong Kong-based South China Morning Post.

Wu’s saber-rattling aligns with China’s warning earlier this month that the Philippines is “playing with fire” amid reports it is fortifying its military presence with troops and construction on remote but strategically important islands near Taiwan’s southern shores.

China is clearly perturbed by Manila’s possible decision to grant traditional security partners, namely the United States but also Japan, access to military facilities in Batanes, the island-nation’s northernmost province less than 200 kilometers from Taiwan’s southern shores.

The Philippines is now reportedly considering major exercises with the US and other allies in its northernmost provinces later this year, maneuvers that would stir China’s growing concern that the Southeast Asian nation aims to serve as a hub for an expanded Western military presence south of Taiwan.

US forces and military equipment could be formally deployed to Batanes on a rotational basis under the Enhanced Defense Cooperation Agreement (EDCA), which Manila recently agreed to expand to allow US forces access to more bases across the country. A similar agreement is reportedly in the works with Japan.  

Philippine and US Marines during a surface-to-air missile simulation as part of exercise Kamandag joint exercises on October 10, 2019. Photo: Lance Cpl. Brienna Tuck / US Marine Corps

However, US access to Batanes is apparently not yet a done deal. That likely explains why Beijing’s foreign ministry warned last week that Taiwan is “at the center of China’s core interests and represents an insurmountable red line and bottom line.”

Despite those threats and warnings, the Philippines is doubling down on efforts to preserve its sovereignty in the disputed waters while preparing for contingencies in nearby Taiwan, which is separated by the narrow Bashi Channel from northernmost Philippine provinces.

As such, Manila is stepping up its acquisition of increasingly high-end military equipment while expanding sophisticated military exercises with partners including the US, Japan and Australia.

Aside from relying on US military aid, including a recently delivered C-130 transport plane, the Philippines is aiming to procure modern fighter jets, submarines and strategic missile systems under a 2 trillion peso (US$36 billion) military modernization program.

That big gun budget has gained the attention of regional arms vendors. Over 20 Indian defense companies visited the Philippines recently to explore expanded military cooperation following New Delhi’s recent delivery of its Brahmos supersonic missiles to the Southeast Asian nation.

Meanwhile, the Philippines and Sweden are also exploring a major fighter jet deal as Manila aims to modernize its relatively small and aging fleet.

Most dramatically, France is offering a multibillion-dollar submarine deal to the Philippines amid negotiations over a reciprocal access agreement.

The European power is expected to participate for the first time this year in the Philippine-US Balikatan exercises, among the region’s largest. Other new partners such as South Korea and Spain are also offering modern weapons systems to the Southeast Asian nation.

In the dragon’s shadow

Although the continent-sized China has territorial and maritime disputes with a wide range of nations across its massive borders, tensions with the Philippines have reached a fever pitch in recent months.

For China, the Southeast Asian nation has rapidly transformed from a “special friend” in Southeast Asia under the Rodrigo Duterte presidency (2016-2022) into a major enabler of Western power projection under the Ferdinand Marcos Jr administration.

Despite pronouncing a “new golden era” in bilateral relations, Marcos Jr has steadily adopted an uncompromising stance on the two sides’ South China Sea disputes.

That shift came after his largely fruitless state visit to Beijing last year, which produced no tangible agreements on outstanding bilateral concerns including the intensifying maritime spats and the billions of dollars of unfulfilled Chinese infrastructure investment pledges made but not delivered to the Duterte administration.

For Duterte’s successor, that meant it was time for the Philippines to draw a hard new line and fundamentally reset relations. In that direction, Marcos Jr greenlighted the expansion of defense cooperation with traditional allies as well as more assertive patrols by Philippine maritime forces.

These moves, the president appears to believe, allow him to deal diplomatically with China from a comparative position of strength.

For China, however, the Philippines is flirting with armed conflict by engaging in what sees as overtly provocative actions.

Those include Manila’s plans to fortify its de facto maritime military bases reaching from the Second Thomas Shoal to Thitu Island and the increasing frequency and scope of joint maritime drills with Western powers in the South China Sea.

Philippine President Ferdinand Marcos Jr and Chinese President Xi Jinping in January in Beijing. Photo: Asia Times files

Now and perhaps most crucially, Beijing is closely monitoring Manila’s emerging new strategic posture on Taiwan. The Marcos Jr administration has so far sent mixed signals on whether it will grant US access to prized Philippine bases near Taiwan’s southern shores.

But given Beijing’s rising preparations for possible kinetic action against the self-ruling island, it’s clearly in no mood for Manila’s strategic reorientation toward the West and its regional allies.

By all indications, vigorous debates are underway in China on how to dissuade the Philippines from its current course, with some experts like Wu calling for a more decisive and coercive response.

Wary of China’s immense military superiority, the Philippines is leaning into an expanding network of strategic partners who share similar threat perceptions about the Asian superpower.

Big guns wanted

Coincident with emerging as one of the region’s fastest-growing economies, the Philippines is also becoming a major defense market. The US will deliver three new C-130J-30 Super Hercules airlifters worth $400 million between July 2026 and January 2027.

Ongoing negotiations are also underway for the potential sale of American F16 fighter jets to the Philippine Air Force, though they have reportedly hit a snag over price issues.

Manila is also reportedly considering alternative European options, most notably from Sweden, which is offering more affordable alternatives such as the Saab Jas-39 Gripen multirole fighter.

The French, Spanish and South Koreans, meanwhile, are offering multi-billion submarine deals. The Philippine Navy has indicated its preference for up to three submarines, which, according to military experts could be a game changer in shifting the heavily lopsided regional naval balance of power.

“Three is the magic number…one [submarine] in operation, one in training and one in refit or maintenance,” Ian Storey, a leading maritime security expert, told the media.

Meanwhile, a large delegation of Indian defense companies including Mahindra Emirates Vehicle Armouring, Bharat Dynamics Ltd, Hindustan Aeronautics Ltd, DCM Shriram Industries Ltd, and MKU Ltd recently visited Manila for the inaugural India-Philippines defense industry seminar.

“We have announced our intent to offer a soft loan for defense procurements and this could also cover activities that would eventually extend some sort of joint industrial activity,” Indian Ambassador Shambhu Kumaran said on the sidelines of the defense industry seminar in Manila on February 16.

“India’s unique selling proposition is that we are able to bring cutting-edge technology at competitive prices,” the diplomat said.

Follow Richard Javad Heydarian on X at @Richeydarian

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Ravichandran Ashwin: The spin maestro who defied odds to reach 500 wickets

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India's Ravichandran Ashwin celebrates after taking the wicket of England's Ben Duckett during the first day of the first Test cricket match between India and England at the Rajiv Gandhi International Stadium in Hyderabad on January 25, 2024.Getty Images
By Suresh Menon
Sports Writer

Of the nine bowlers who have claimed 500 Test wickets, India’s Ravichandran Ashwin – who has joined the club now – is by far the best batter with five centuries.

Had Ashwin, 37, chosen to focus on batting to the exclusion of bowling, it is possible he might have finished with over 10,000 Test runs.

On Friday, he became only the ninth man to reach the 500-milestone. On the same day, the off-spinner pulled out of the third Test against England because of a family emergency but now he is back with the squad.

There is a silken touch to Ashwin’s batting and stubbornness that saw him stoutly save a Test alongside Hanuma Vihari. Both batters suffered body blows and injuries in the match.

There is a similar combination of the artistic and the abrasive, the classical and the contemporary, in his bowling too. The variations on the off-break theme he developed early meant that at the start of his career he tended to try too many things. (An off-break delivery turns from the off side to the leg side when bowled at a right-handed batsman. It is the most popular method of spin in cricket.)

It ranged from his run-up to how he held the ball in his hand to the angle of the seam. It went against traditional wisdom which held you should have a stock ball and use the variations sparingly. But it served Ashwin well, and he picked up nine five-wicket hauls in his first 16 Tests.

In many ways, Ashwin is in a class of one, even if he has to share the tag of being the best contemporary off spinner with Australia’s Nathan Lyon. He is often not considered as the best ever because 70% of his wickets have come at home in familiar conditions.

Ravichandran Ashwin bowls during the first day of the first Test cricket match between India and England at the Rajiv Gandhi International Stadium in Hyderabad on January 25, 2024. (

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India has a rich tradition of off-spin bowling from Ghulam Ahmed, Erapalli Prasanna, Srinivas Venkataraghavan to Harbhajan Singh and Ashwin. Each is an original – that might have had something to do with their success. That three of them, including Ashwin, are qualified engineers might be a coincidence, but off-spinners have to work harder at their craft, and that combination of discipline and brainpower is useful.

Give a ball to anyone and ask them to spin it. Chances are they will bowl an off-break. It makes for familiarity for right handers, whose natural swing is to leg. This, combined with powerful modern bats, ensures the off-spinner has a tough job. With the growth of white-ball cricket, it was assumed the tribe would vanish. So those who have succeeded over many years – Ashwin made his debut in 2011 – and in different conditions are special.

“Obsessive” is the word that is often used to describe him because he is constantly thinking about his game. He speaks with authority and intelligence, he also developed the carrom ball, flicking it with his middle finger to make it go the other way. It speaks of strong fingers, a strong mind and confidence in his craft.

With ball in hand, he is a poker player who plays as if he can see the other’s hand. In recent years, he has been in and out of the Indian team, but has always given the impression that he is still a step ahead of everyone else. In the modern game nothing is secret for long. Develop a new delivery and by the end of the day, the computer has analysed it to death and a schoolboy in Iceland is trying it out. Bowlers need to work hard to keep ahead of the MacBook.

India bowler Ravi Ashwin celebrates after taking the wicket of England batsman Ben Duckett during day one of the 1st Test Match between India and England at Rajiv Gandhi International Stadium on January 25, 2024 in Hyderabad, India.

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Once younger men began to lead India, Ashwin knew his chances of captaining were gone – he would have made a fine captain. The other 10 players might have found it a tad difficult to understand him initially since his mind moves on a different plane – he has said, for instance, that the bad ball can be the most dangerous in T20 cricket – but once he won their confidence, they would be eating out of his hands.

With Ravindra Jadeja, Ashwin formed India’s most effective bowling partnership, with 500-plus wickets bowling as a pair. Jadeja is a nice contrast – steady, quick, chipping away, the straight man to Ashwin’s varied expressions. In some ways, the pair they displaced, Anil Kumble-Harbhajan Singh, had similar temperaments.

Among Indians, Ashwin’s tally is second only to that of Kumble. He told an interviewer some years ago, “I am a big fan of Kumble’s. He has 619 wickets. If I get to 618 I will be very thankful and that will be my last Test match.”

It is a peep into the mind of a fascinating man.

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Chinese hand in global nickel price collapse – Asia Times

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Australia’s nickel industry has been granted access to billions of dollars in federal funding as well as relief from royalty payments after a collapse in the global price of nickel that threatens thousands of jobs.

On Thursday (February 15), BHP wrote down the value of its West Australian nickel division Nickel West to zero and said it was considering placing the entire division into a “period of care and maintenance.”

Nickel is a metal crucial for the production of stainless steel, alloys, electroplating and the batteries used in electric vehicles.

The global price has dived from a high of US$50,000 in 2022 to just $16,400 per tonne on Monday in response to a huge increase in supply from Indonesia, much of it from Chinese-owned and operated mines.

On Monday ahead of this week’s Cabinet meeting in Perth, Prime Minister Anthony Albanese said Indonesia had increased its share of the global nickel market by more than ten times.

Last Friday, his government added nickel to the official Critical Minerals List, giving it access to grants under the A$4 billion (US$2.6 billion) Critical Minerals Facility.

And then on Saturday (February 17), the West Australian premier granted miners a temporary 50% rebate on royalties for the next 18 months whenever prices are below US$20,000 per tonne.

Lithium, cobalt, nickel and graphite are needed for batteries and were touted by Treasurer Jim Chalmers as essential for powering the clean-energy technologies of the future.

Australia and Indonesia hold the world’s largest reserves of Nickel, each with about 21 million tonnes.

But China is by far the largest customer, accounting for 35% of the nickel processed worldwide plus about another 15% it processes in Indonesia.

China also accounts for about 80% of the rare earths processed worldwide, 90% of the lithium, 70% of the gallium and the 70% of germanium.

Its incredibly low cost of processing and competitive labor market give it an almost unassailable advantage, turning suppliers into price takers rather than price makers.

China helped fund the oversupply

So, what went wrong for Australia? To help keep prices low China invested in mines in Indonesia, hugely increasing their output.

Australia is attempting to establish alternative processing chains, entering into critical minerals partnerships with India, Japan, Korea, the United States and the United Kingdom.

But such attempts run the risk of strategic responses in the form of export bans on processed commodities (China has previously imposed bans on the export of Gallium, Germanium and rare earths) and moves to create oversupplies.

Australia is a leading producer of critical minerals, supplying all ten of the elements needed for lithium-ion batteries, and has the advantage of better environmental, social, and governance (ESG) standards that make it an attractive destination for investment.

But it lacks the capacity to refine all of its own production, meaning it has to dispose of many of the critical minerals it extracts as byproducts.

Until Australia can find a way to break free of the market stranglehold of our biggest customer, those investments will remain at risk.

On Monday (February 19), Albanese said he was working on a larger response that would ensure Australia had an “ongoing industry in nickel”, which would be one of the resources of the 21st century.

One such effective response would be the creation of a large processing facility to service multiple mines, selling Australian-sourced and processed critical minerals that adhere to higher ESG standards compared to those sourced and processed elsewhere.

The prime minister said the decision wouldn’t be quick. He didn’t want a response that lasted “a day or two.”

Mohan Yellishetty is co-Founder, Critical Minerals Consortium, and Associate Professor, Department of Civil Engineering, Monash University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Japan: Defence ministry eases haircut rules for troops

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Japanese troops jogging in the dayReuters

New recruits to the Japanese military will be allowed to have longer hair in a bid to attract more young people, the country’s defence ministry has said.

The announcement comes as Japan struggles with a shortage of soldiers in the face of growing concerns about China and North Korea.

Only buzz cuts were allowed for male recruits, and short hair for females.

But from April, the rules will be relaxed to allow troops to have longer hair.

Under the new rules, male troops will be allowed to have short back and sides with longer hair on top.

Female personnel will be allowed to have longer hair – but cannot fall onto the shoulders when it is tied up while in uniform – and does not interfere with the wearing of a helmet.

According to the Kyodo news agency, news of the relaxed rule was first reported in January during an expert panel meeting tasked with boosting troop numbers for Japan’s Self-Defence Forces (JSDF).

Defence minister Minoru Kihara said during that meeting: “As our nation faces a serious workforce shortage, we recognize competition with others, including the private sector, to secure talent has been intensifying.”

The role of Japan’s military since World War Two has been exclusively defensive in line with the country’s pacifist constitution.

The bid to drive up recruitment comes as Japan grapples with China’s rapid military build-up and North Korea’s expanding missile and nuclear programs.

Last year, Japan announced it would substantially boost its defence spending over the next five years, but the JSDF has been struggling to hit recruitment targets, with officials saying the army is operating at 10% below capacity.

The Japan Times has reported that on top of a declining birth rate and having the world’s oldest population, low morale due to poor pay and allegations of sexual harassment has also hindered recruitment.

Last year it was reported that the country’s defence ministry was also considering moves to allow people with tattoos to join the JSDF.

Tattoos have long been taboo in Japan, where they are associated with yakuza organised crime gangs.

Officials have acknowledged that many people who have tattoos are not gangsters and the ban was hindering recruitment.

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Budget 2024: 6 key takeaways, from CPF changes to more CDC vouchers and less property taxes

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SINGAPORE: Deputy Prime Minister Lawrence Wong on Friday (Feb 16) announced several financial measures to help both Singaporeans and businesses, in what was likely his last Budget before the country’s leadership transition. These included more payouts to alleviate cost-of-living concerns, moves to make preschools more affordable and a new SkillsFutureContinue Reading

Budget 2024: 6 key takeaways, from CPF changes to more CDC vouchers and less property tax

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SINGAPORE: Deputy Prime Minister Lawrence Wong on Friday (Feb 16) announced several financial measures to help both Singaporeans and businesses, in what was likely his last Budget before the country’s leadership transition. These included more payouts to alleviate cost-of-living concerns, moves to make preschools more affordable and a new SkillsFutureContinue Reading

Budget 2024: CPF Enhanced Retirement Sum to increase; Special Account to be closed for those 55 and above

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SINGAPORE: Central Provident Fund (CPF) members aged at least 55 will no longer have a Special Account from 2025 onwards, but they will be able to put more money into their Retirement Accounts, said Deputy Prime Minister Lawrence Wong in his Budget speech on Friday (Feb 16).

These moves are meant to better support the retirement needs of seniors in Singapore, he added.

The Enhanced Retirement Sum is the maximum amount that CPF members can put into their Retirement Accounts to receive payouts. It is currently set at three times the Basic Retirement Sum (BRS), but will be increased to four times the BRS next year.

“This will allow more members aged 55 and above to fully commit their accumulated CPF savings to receive higher payouts, should they wish to do so,” he said.

WHAT IT MEANS

Having more money in a CPF Retirement Account translates to bigger monthly payouts. According to the Ministry of Finance, a CPF member with three times the Basic Retirement Sum in 2025 can have an estimated monthly payout of S$2,530 (US$1,880).

By comparison, a member with four times the BRS next year – or S$426,000 – can receive an estimated monthly payout of S$3,330.

CPF members can voluntarily top up their Retirement Accounts by transferring savings from their Ordinary Account or by making cash top-ups.

Meanwhile, the closure of Special Accounts means that savings in the account will be transferred to the Retirement Account up to the Full Retirement Sum, which is two times the basic sum.

“The remaining (Special Account) savings will be transferred to the Ordinary Account. Of course, members can voluntarily transfer these OA savings to the RA at any time, up to the revised (Enhanced Retirement Sum), to earn higher interest and to receive higher retirement payouts,” said Mr Wong.

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