China Holds Live-Fire Drills Opposite Taiwan, a Week after Large-Scale Exercise

A Chinese warship opens fire during military exercises near Taiwan (archive - Reuters).
A Chinese warship opens fire during military exercises near Taiwan (archive - Reuters).
TT

China Holds Live-Fire Drills Opposite Taiwan, a Week after Large-Scale Exercise

A Chinese warship opens fire during military exercises near Taiwan (archive - Reuters).
A Chinese warship opens fire during military exercises near Taiwan (archive - Reuters).

China is holding live-fire drills off the coast of its southern Fujian province facing Taiwan, just a week after a massive air-and-sea drill it called punishment for Taiwan's president rejecting Beijing's claims of sovereignty.
The live fire drills were being held near the Pingtan islands off Fujian province from 9 a.m. to 1 p.m., according to a notice from the Maritime Safety Administration. It warned ships to avoid the area. It did not offer additional details, said The Associated Press.
Taiwan's Defense Ministry said China's drills were part of an annual exercise and was tracking them. “It cannot be ruled out that it is one of the ways to expand the deterrent effect in line with the dynamics in the Taiwan Strait,” the statement added.
Taiwan is a self-ruled island that Beijing claims is part of China. Tensions around the issue has flared in recent years. China has increased its presence in the waters and skies around Taiwan. It now increasingly sends large amounts of warplanes and navy vessels in military exercises near Taiwan and its coast guard carries out patrols.
Last week, China held a one-day military exercise aimed at practicing the “sealing off of key ports and key areas.” Taiwan counted a record one-day total of 153 aircraft, 14 navy vessels, and 12 Chinese government ships.
In response to Chinese moves, the US has continued to host what it calls “freedom of navigation” transits through the Taiwan Strait. On Sunday, the destroyer USS Higgins and the Canadian frigate HMCS Vancouver transited the narrow band of ocean that separates China and Taiwan.
Germany sent two warships through the Taiwan Strait last month as it seeks to increase its defense engagement in the Asia-Pacific region.



Thiel’s Palantir Dumped by Norwegian Investor over Work for Israel

The logo of US software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. (Reuters)
The logo of US software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. (Reuters)
TT

Thiel’s Palantir Dumped by Norwegian Investor over Work for Israel

The logo of US software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. (Reuters)
The logo of US software company Palantir Technologies is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. (Reuters)

One of the Nordic region's largest investors has sold its holdings in Palantir Technologies because of concerns that the US data firm's work for Israel might put the asset manager at risk of violating international humanitarian law and human rights.

Storebrand Asset Management disclosed this week that it had "excluded Palantir Technologies Inc. from our investments due (to) its sales of products and services to Israel for use in occupied Palestinian territories."

The investor, which manages about 1 trillion crowns ($91.53 billion) in assets, held around 262 million crowns ($24 million) in Palantir, a spokesperson told Reuters. A representative for Palantir, based in Denver, did not immediately respond to a request for comment.

Storebrand said Palantir had not replied to any of its requests for information, first lodged in April. The data analytics firm, co-founded by billionaire Peter Thiel, provides militaries with artificial-intelligence models. Earlier this year, it agreed to a strategic partnership to supply technology to Israel to assist in the ongoing war in Gaza.

Palantir has previously defended its work for Israel. CEO Alex Karp said he was proud to have worked with the country following the Hamas attacks in October last year and in March told CNBC that Palantir had lost employees and that he expected to lose more over his public support for Israel.

Storebrand's exit follows a recommendation from Norway's government in March warning businesses about engaging in economic or financial activity in the Israeli settlements in the Palestinian territories, the asset manager said in its third-quarter investment review published on Wednesday. The International Court of Justice, the United Nations' highest court, said in July that Israel's occupation of Palestinian territories including the settlements was illegal.

Israel's foreign ministry rejected that opinion as "fundamentally wrong" and one-sided, and repeated its stance that a political settlement in the region can be reached only by negotiations.

Storebrand said its analysis indicated that Palantir provides products and services "including AI-based predictive policing systems" that support Israeli surveillance of Palestinians in the West Bank and Gaza.

Palantir's systems are supposed "to identify individuals who are likely to launch 'lone wolf terrorist' attacks, facilitating their arrests preemptively before the strikes that it is projected they would carry out," Storebrand said.

It added that, according to the United Nations, Israeli authorities have a history of incarcerating Palestinians without charge or trial. A UN Special Rapporteur said in a 2023 report that "the occupied Palestinian territory had been transformed as a whole into a constantly surveilled open-air prison."

Israel rejected the UN's findings. In September Reuters reported that Norway's $1.7 trillion wealth fund may have to divest shares of companies that violate the fund watchdog's tougher interpretation of ethics standards for businesses that aid Israel's operations in the occupied Palestinian territories.