From Floods to Finance: Combating Climate Change Impacts on Cambodia's Economy
Australia Senate committee backs bill to ban social media for childrenBut alongside his stark warning of the threats facing Britain and its allies, Admiral Sir Tony Radakin said there would be only a “remote chance” Russia would directly attack or invade the UK if the two countries were at war. The Chief of the Defence Staff laid out the landscape of British defence in a wide-ranging speech, after a minister warned the Army would be wiped out in as little as six months if forced to fight a war on the scale of the Ukraine conflict. The admiral cast doubt on the possibility as he gave a speech at the Royal United Services Institute (Rusi) defence think tank in London. He told the audience Britain needed to be “clear-eyed in our assessment” of the threats it faces, adding: “That includes recognising that there is only a remote chance of a significant direct attack or invasion by Russia on the United Kingdom, and that’s the same for the whole of Nato.” Moscow “knows the response will be overwhelming”, he added, but warned the nuclear deterrent needed to be “kept strong and strengthened”. Sir Tony added: “We are at the dawn of a third nuclear age, which is altogether more complex. It is defined by multiple and concurrent dilemmas, proliferating nuclear and disruptive technologies and the almost total absence of the security architectures that went before.” The first nuclear age was the Cold War, while the second was “governed by disarmament efforts and counter proliferation”, the armed forces chief said. He listed the “wild threats of tactical nuclear use” by Russia, China building up its weapon stocks, Iran’s failure to co-operate with a nuclear deal, and North Korea’s “erratic behaviour” among the threats faced by the West. But Sir Tony said the UK’s nuclear arsenal is “the one part of our inventory of which Russia is most aware and has more impact on (President Vladimir) Putin than anything else”. Successive British governments had invested “substantial sums of money” in renewing nuclear submarines and warheads because of this, he added. The admiral described the deployment of thousands of North Korean soldiers on Ukraine’s border alongside Russian forces as the year’s “most extraordinary development”. He also signalled further deployments were possible, speaking of “tens of thousands more to follow as part of a new security pact with Russia”. Defence minister Alistair Carns earlier said a rate of casualties similar to Russia’s invasion of Ukraine would lead to the army being “expended” within six to 12 months. He said it illustrated the need to “generate depth and mass rapidly in the event of a crisis”. In comments reported by Sky News, Mr Carns, a former Royal Marines colonel, said Russia was suffering losses of around 1,500 soldiers killed or injured a day. “In a war of scale – not a limited intervention, but one similar to Ukraine – our Army for example, on the current casualty rates, would be expended – as part of a broader multinational coalition – in six months to a year,” Mr Carns said in a speech at Rusi. He added: “That doesn’t mean we need a bigger Army, but it does mean you need to generate depth and mass rapidly in the event of a crisis.” Official figures show the Army had 109,245 personnel on October 1, including 25,814 volunteer reservists. Mr Carns, the minister for veterans and people, said the UK needed to “catch up with Nato allies” to place greater emphasis on the reserves. The Prime Minister’s official spokesman said Defence Secretary John Healey had previously spoken about “the state of the armed forces that were inherited from the previous government”. The spokesman said: “It’s why the Budget invested billions of pounds into defence, it’s why we’re undertaking a strategic defence review to ensure that we have the capabilities and the investment needed to defend this country.”
Bangladesh's future depends on creating a knowledge-driven economy, and new businesses require a supportive environment to succeed alongside funding, which can come in the form of venture capital and private equity, said speakers at a discussion recently. Venture capital is a type of financing for promising startups in exchange for ownership stakes. Private equity is also a type of investment involving purchasing an interest in a mature company that is not publicly traded on a stock exchange. Obstacles in the process of appropriate asset valuation and a dearth of relevant service providers hinder access to finance, they said. For instance, tech companies are having trouble with the valuation audit process since their assets are in the intellectual form, they added. The situation is complicated by the fact that the financing industry lays special emphasis on safe investment and revenue return, the speakers said. For prospective small and medium enterprises and startups, venture capital and private equity may be the most suitable alternative source of financing outside of banks, they said. "Businesses developing intellectual property should not concentrate on valuing physical assets because banks rely on this information to secure their loans," said Ashraf Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI). "As business owners, we should concentrate on conquering our own obstacles while adhering to current legal restrictions, both as growth investors and as financers of innovation," he said. Ahmed was addressing a discussion on "Connecting Innovative SMEs and Startups with Private Equity & Venture Capital Firms for Bridging Financing Gap" organised by the DCCI on its premises. It is necessary to make venture capital and private equity more widely known to small businesses in Bangladesh since the demand exists while innovation was coming about, he said. The industry requires a supportive legislative environment in order to expand, said Mohammad Abdul Momen, a former director of the University of Dhaka's Institute of Business Administration. He stated that the emergence of numerous creative startups was encouraging and for the benefit of the economy as a whole, they must be supported right from their inception. He also urged Bangladesh's young inventors to protect their creations with patents. Mohammad Ashraf Hossain, head of compliance and company secretary at Maslin Capital Limited, Shawkat Hossain, CEO of Bangladesh Venture Capital Limited, Jasim Mohammad Miah, investment manager at X Angel Limited, and MM Ehsan Nizamee, CEO of Finager Fintech, spoke at the event. A total of eight representatives from private equity and venture capital firms alongside 14 startups and 26 SMEs participated in the event.
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