China, Russia sign gas pipeline deal as Beijing seeks to present new world order • FRANCE 24

China, Russia sign gas pipeline deal as Beijing seeks to present new world order • FRANCE 24

[Music] Good to have you with us, Yuka. So, China, it’s wrapped up its high-profile Shanghai Cooperation Organization summit with the announcement of a major energy deal with Russia. Sharon, the two sides signed a new agreement to build a pipeline that would boost capacity of Russian natural gas deliveries to China by 50 billion cubic meters a year. It was among the more than two dozen agreements signed between the two countries during Vladimir Putin’s visit to China. As Beijing seeks to present its vision of a new world order, Luke Shger has Beijing. Neither Xi Jinping nor Vladimir Putin have been shy about hiding an ostensibly close friendship. Our close communication reflects the strategic nature of Russian Chinese ties which are at an unprecedentedly high level. Both nations have sought to bolster ties, particularly sanctions beset Moscow, isolated from former energy markets in the west after its invasion of Ukraine over 3 years ago. That’s pushed it to rely more on other partners like India still buying sanctioned cheap Russian oil and China, which now accounts for a third of Russia’s trade with Beijing sensing a further opportunity. China is willing to work with Russia to support each other’s revitalization and development, steadily defend international justice and fairness, and promote and build a more fair and equitable global governance system. For years, both China and Russia have wanted a more multipolar world that favors them more than a westernoriented order. And the vacuum left behind as the United States takes a more hostile tack towards its traditional partners has left the door open for nations like China, which has been portraying itself as the new standard bearer for free trade since Washington’s global tariffs went into play. The perception that Donald Trump is less interested than his predecessors in supporting the international rule-based order. It’s almost impossible to see how the Chinese couldn’t have resisted this opportunity to um step into that space and occupy it very decisively. With Russia’s hands tied, it seems there’s little doubt in Beijing’s mind over just who the senior partner will be in the global order it wants to see. Next, Swiss food giant Nestle has fired its CEO over a secret office romance. without ex CEO Lawrence FS was abruptly dismissed after just one year on the job. The company issued a statement saying his undisclosed romantic relationship with a staff member violated the company’s code of conduct and that his firing was a necessary decision. Nestle said the ousted CEO initially denied the relationship to the board during an internal investigation, but the company launched a wider probe as complaints continued to come in through its whistleblowing channel. Swiss law doesn’t ban relationships between senior executives, nor does it require disclosure. Ordinary citizens have mixed opinions about the firing. So if he was in love, well, all the better for him. But then did it affect his work? Well, that’s the question. Maybe, just maybe, I’m only guessing. His work contract as an executive of a company like Nestle clearly stipulated that he must not have privileged contact with a subordinate. If that was the case, then it’s normal that he be dismissed as he committed a serious error. Is then a taboo topic. Not really. Here in France, around 14% of couples were formed in the workplace. According to a 2018 survey, the same poll showed 53% of workers saying they had had a secret romantic relationship with a colleague either in their current workplace or elsewhere. A third of them said they’d had sex at work. Like in Switzerland, French law does not prohibit this type of relationship. And respect for one’s private life is a legal right. Under France’s civil code, an employee cannot be sanctioned for what they do in private, including having a love affair with a colleague. That said, if that relationship affects a company’s business or involves a power imbalance, that’s a different story. An intimate relationship with one’s superior, for example, raises could raise concern over a potential conflict of interest or favoritism. That’s why most big corporations have internal codes of conduct like the case of Nestle. Sharon, finally then, Japanese beverage giant Suni was also hit by a scandal. Well, its CEO has been forced to resign over a supplement he bought abroad. Teeshi Ninami has been one of the best known faces of corporate Japan, but he became the subject of a police investigation over what he later said was a canabidial canabidial or CBD based supplement. Although he wasn’t charged with any crime and no illegal substance was seized during a raid on his home, Santories board decided he should leave. The company is famous for its whisies, but it also sells health foods and supplements. He explained that a supplement he had purchased, believing it was legal, became the subject of a police investigation. We have determined that Mr. Ninami’s action, which demonstrated a lack of understanding about supplements did not meet the standards and qualities required to fulfill the role of this company’s chief executive. That’s a wrap from the business desk. Yuka, thanks so much for taking us through all of that. Yukaroya there for the day business news.

China has wrapped up a high-profile summit of the Shanghai Coorperation Organization, where President Xi Jinping sought to present a new world order with the Global South leading the way. It also signed a slew of business deals with partners including Russia. Among them is a new agreement on a long-delayed pipeline project that boosts capacity of Russian gas deliveries to China. Also in this bulletin: Nestlé has fired its CEO over a secret love affair. So are office romances a taboo subject? 
#China #Russia #energy

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