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‘I miss the sun’: Journalist detained in China issues rare message
Jailed Chinese-Australian journalist Cheng Lei has described the bleak conditions she faces in detention in a rare public message released on Thursday ahead of the third anniversary of her imprisonment by Beijing. "I miss the sun," reads the message, described as a "love letter" to Australia dictated to officials on a consular visit. "In my cell, the sunlight shines through the window but I can stand in it for only 10 hours a year." The message was shared with Australian news outlets and on the social media platform X by Cheng's partner, Nick Coyle, on Thursday evening. Cheng, a former anchor for Chinese state broadcaster CGTN, is formally charged with "supplying state secrets overseas", though no further details have been supplied. Her detention came as relations between Australia and China cratered, raising speculation it was politically motivated. Last year Coyle said he had serious concerns about a "range of health issues" Cheng faced behind bars. In Thursday's poignant message, the mother of two said she hadn't seen a tree in three years and spoke of her longing for Australia and the outside world. She said her bedding in jail was only taken out to air once a year. "When it came back last time, I wrapped myself in the doona (quilt) and pretended I was being hugged by family under the sun," the message read. "Most of all I miss my children," it ended. Cheng has been detained since August 2020 but was only formally arrested in February 2021. She was tried last March behind closed doors, with even Australia's ambassador to China blocked from entering the court to observe proceedings. The court deferred the verdict and Cheng's sentence, which could extend to life in prison. "She has missed her daughter going to high school. Her parents aren't getting any younger and Lei is their only child. So time is getting more and more precious," the Sydney Morning Herald quoted Coyle as saying on Thursday. Last month Australia's foreign minister said she had again raised Cheng's case when she met China's top diplomat Wang Yi on the sidelines of an ASEAN summit in Jakarta. Ties between the two sides have been improving since the election of Australia's center-left Labor government in May last year. Last week, China announced it was removing extra tariffs on Australian barley imposed in 2020 at the height of the dispute. The post ‘I miss the sun’: Journalist detained in China issues rare message appeared first on Daily Tribune......»»
One giant step: Moon race hots up
Russia's plan to launch its lunar lander on Friday is the latest in an international push to return to the Moon that includes the world's top powers but also new players. Technology, science and politics are all essential factors in the Moon race. Here is the latest: China's great leap China is pursuing plans to send a crewed mission to the Moon by 2030 and plans to build a base there. The world's second-largest economy has invested billions of dollars in its military-run space program in a push to catch up with the United States and Russia. China was the third country to put humans in orbit in 2003 and Tiangong is the crown jewel of its space program, which has also landed rovers on Mars and the Moon. The unmanned Chang'e-4 rocket landed on the far side of the Moon in 2019, with another robot mission to the near side raising the Chinese flag there in 2020. That moonshot brought rock and soil samples back to Earth, the first time that has been done in more than four decades. NASA's Artemis NASA's Artemis 3 mission is set to return humans to the Moon in 2025 including its first woman and first non-white astronaut. Under the Artemis program, NASA is planning a series of missions of increasing complexity to return to the Moon and build a sustained presence in order to develop and test technologies for an eventual journey to Mars. The first, Artemis 1, flew an uncrewed spacecraft around the Moon in 2022. Artemis 2, planned for November 2024, will do the same with crew on board. NASA sees the Moon as a pit stop for missions to Mars and has done a deal with Finnish mobile firm Nokia to set up a 4G network there. However, NASA said this week that the Artemis 3 mission may not land humans on the Moon, depending on whether certain key elements, including the landing system developed by SpaceX, were ready. Elon Musk's firm won the contract for a landing system based on a version of its prototype Starship rocket, which remains far from ready. An orbital test flight of the uncrewed Starship ended in a dramatic explosion in April. Russia's Luna Russia's launch of Luna-25 on Friday will be its first to the Moon since 1976 and marks the beginning of Moscow's new lunar project. President Vladimir Putin is looking to strengthen space cooperation with China after ties with the West broke down following the start of Moscow's invasion of Ukraine in 2022. New players Recent technological progress has reduced the cost of missions and opened the way for new players in the public and private sector to get involved. India's latest space mission Chandrayaan-3 entered the Moon's orbit in August ahead of the country's second attempted lunar landing later this month. But getting to the Moon is not an easy task. Israeli non-profit SpaceIL launched its Beresheet lunar lander in 2019, but it crashed. And in April this year Japan's ispace was the latest company to try, and fail, at the historic bid to put a private lunar lander on the Moon. Two other US companies, Astrobotic and Intuitive Machines, are set to try later in the year. The post One giant step: Moon race hots up appeared first on Daily Tribune......»»
North Korea fires missiles ahead of key anniversary
Pyongyang conducted twin missile launches late Monday, ahead of Korean War anniversary celebrations that will be attended by Chinese dignitaries in the first foreign delegation visit to the country since its 2020 pandemic border closure. South Korea's defense ministry described the two projectiles as ballistic missiles that flew about 400 kilometers (248 miles) before falling into the sea, according to reports by news agency Yonhap of South Korea and Japan's Kyodo. "Our military detected two ballistic missiles North Korea fired from areas near Pyongyang into the East Sea at 11:55 pm on the 24th and at midnight of the 25th," Yonhap quoted South Korea's Joint Chiefs of Staff as saying. The launches were the latest in a series of weapons tests in recent weeks by Pyongyang, and come as Seoul and Washington ramp up defense cooperation in the face of soaring tensions with the North. Last week South Korea hosted a visit by a US nuclear-capable submarine, the first deployment there by such a nuclear-armed American vessel in decades. And in a move that likely further provoked the North, a second US submarine, the nuclear-powered USS Annapolis, arrived at a South Korean naval base around the time of Monday's missile launches, according to Yonhap. The reclusive North Korean regime routinely conducts weapons tests, and the launches come days after leader Kim Jong Un personally oversaw the latest firing of the country's newest intercontinental ballistic missile, the solid-fuel Hwasong-18. Relations between the two Koreas are currently at one of their lowest historical points, as diplomacy between Pyongyang and Seoul has stalled and Kim has called for ramping up weapons development, including tactical nukes. In efforts to bolster deterrence, Seoul and Washington have staged joint military exercises with advanced stealth jets and US strategic assets. The White House took issue with Pyongyang's latest action, with Press Secretary Karine Jean-Pierre saying "we certainly condemn the DPRK's ballistic missile launches," referring to North Korea by the acronym of its formal name. The missile tests "pose a threat to the DPRK's neighbors and the international community," Jean-Pierre said, adding: "Our commitment to the defense of the Republic of Korea and Japan remains ironclad." Significant visit Monday's launches come ahead of celebrations in North Korea this week marking the 70th anniversary of the end of fighting in the Korean War. A Chinese delegation led by Politburo member Li Hongzhong will travel to the North for the event, the state-run Korean Central News Agency reported, in what is the first known visit by a foreign delegation since the start of the pandemic. North Korea has been under a rigid self-imposed coronavirus blockade since early 2020 to protect itself from Covid-19, only resuming some trade with China last year. An armistice agreement ending Korean War hostilities was signed on July 27, 1953 but the two Koreas remain technically at war because the 1950-53 conflict ended in an armistice and not a peace treaty. Tensions on the Korean peninsula also have ratcheted up recently due to the disappearance of a US soldier, Travis King, who was on a tour of the demilitarized zone last week when he ran across the border into North Korea. The UN Command, a US-led multinational force that oversees the Korean War truce, said Monday it has begun discussions with Pyongyang over the missing American serviceman. The post North Korea fires missiles ahead of key anniversary appeared first on Daily Tribune......»»
North Korea fires missiles ahead of key anniversary, Seoul says
Pyongyang conducted twin missile launches late Monday, ahead of anniversary celebrations that will be watched by Chinese dignitaries in the first foreign delegation to visit North Korea since its 2020 pandemic border closure. South Korea's defense ministry described the two projectiles as ballistic missiles that flew about 400 kilometers (248 miles) before falling into the sea, according to reports by news agency Yonhap of South Korea and Japan's Kyodo. "Our military detected two ballistic missiles North Korea fired from areas near Pyongyang into the East Sea at 11:55 pm on the 24th and at midnight of the 25th," Yonhap quoted South Korea's Joint Chiefs of Staff as saying. The launches were the latest in a series of weapons tests in recent weeks by Pyongyang, and come as Seoul and Washington ramp up defense cooperation in the face of soaring tensions with the North. The reclusive regime routinely conducts weapons tests, and the incident comes days after leader Kim Jong Un personally oversaw the latest firing of the country's newest intercontinental ballistic missile, the solid-fuel Hwasong-18. Relations between the two Koreas are currently at one of their lowest historical points, as diplomacy between Pyongyang and Seoul has stalled and Kim has called for ramping up weapons development, including tactical nukes. In response, Seoul and Washington have staged joint military exercises with advanced stealth jets and US strategic assets. Monday's launches also come ahead of celebrations in North Korea this week marking the 70th anniversary of the end of fighting in the Korean War. A Chinese delegation led by Politburo member Li Hongzhong will travel to the North for the event, the state-run Korean Central News Agency reported, in what is the first known visit by a foreign delegation since the start of the pandemic. North Korea has been under a rigid self-imposed coronavirus blockade since early 2020 to protect itself from Covid-19, only resuming some trade with China last year. An armistice agreement ending Korean War hostilities was signed on 27 July 1953 but the two Koreas remain technically at war because the 1950-53 conflict ended in an armistice and not a peace treaty. Tensions on the Korean peninsula also have ratcheted up recently due to the disappearance of a US soldier, Travis King, who was on a tour of the demilitarized zone last week when he ran across the border into North Korea. The UN Command, a US-led multinational force that oversees the Korean War truce, said Monday it has begun discussions with Pyongyang over the missing American serviceman. The post North Korea fires missiles ahead of key anniversary, Seoul says appeared first on Daily Tribune......»»
EU moves closer to launching digital euro
The European Union (EU) on Wednesday took its first significant step towards launching a digital version of the euro, a controversial project that has been questioned by politicians and banks. From China to the United States, Jamaica to Japan, more than 100 central banks worldwide are exploring or preparing to put in place digital currencies as electronic payments grow, changing the way people spend their money. The move to create a digital version of the single currency began in 2020 when European Central Bank (ECB) President Christine Lagarde suggested the idea and her Frankfurt-based body launched a public consultation. The European Commission, the EU's executive arm, published a proposal on Wednesday that will be the legal foundation on which the ECB could launch a digital euro. The currency would be available to individuals living in the euro area and for visitors. It would offer an additional payment option for citizens to use online and offline with their digital wallets, thus ensuring as much anonymity as coins and banknotes. The final law must be backed by the EU's 27 member states and the European Parliament. Digital euro enthusiasts say it will complement cash and ensure the ECB does not leave a gap later filled by private -- usually non-EU -- players and other central banks. "Given that the euro is already the world's second most-traded currency, it is not an area where can afford to stay behind the curve. We need to move ahead with a digital currency," commission vice president Valdis Dombrovskis told reporters. Critics question the need for a digital euro and banks warn of major risks, while the ECB's own study found the public was concerned over payment privacy. The ECB and the commission "have yet to make a compelling case of why we need the digital euro and what added value it will deliver," German MEP Markus Ferber said. Benefits 'outweigh' costs The commission's proposal argued that the digital euro's "long-term benefits... outweigh its costs" and warned, "the costs of no action can potentially be very large". Lagarde said in March that the digital currency was important for resilience and to "safeguard European payment autonomy". Many means of payment are "not necessarily European", she noted, adding it was "very unhealthy to rely on one single source of payment". US giants Visa and Mastercard currently dominate the global card payment market. Others argue, however, that the bloc's plans spell trouble unless the EU takes necessary other steps. Banks have warned of the risk of bank runs as customers could hold their funds in digital euro accounts and wallets, moving them away from the banks' balance sheets. "To shield banks from the risk of deposit flight and to limit the negative impact on banks' ability to finance the economy, it is important to set appropriate and firm limits in holdings and transactions," the European Banking Federation said on Wednesday. The proposal indicates there will be a limit to how much money people can keep in digital euros. ECB officials have suggested a cap of 3,000 euros ($3,300). The digital currency will be granted "legal tender" status, meaning it must be accepted as payment. But there would be exceptions, including for small businesses that do not accept any form of digital payment. The ECB is set to give the formal green light to a digital euro in October and the expectation is it would be available from 2027 onwards. The ECB welcomed the commission's proposal, which it said offered "private intermediaries appropriate economic incentives to distribute the digital euro as they do other digital means of payment while preventing excessive fees for merchants". Privacy concerns The ECB has a difficult battle to win over Europeans. A public consultation showed that the number one priority when it comes to the digital euro is privacy. To calm people's fears, the ECB has stressed it would not attempt to control how people can spend digital currency or use it for surveillance, as critics claim is the case in China. "This is not a Big Brother project for online payments," the EU's financial services commissioner, Mairead McGuinness, said during a press conference in Brussels. "With the digital euro, the data privacy will be the same as for existing private digital means of payment. For offline payments, the data privacy will be even higher." The commission's proposal said the digital euro "will be designed so as to minimize the processing of personal data by payment services providers" and the ECB. The post EU moves closer to launching digital euro appeared first on Daily Tribune......»»
Garland denies Hunter Biden probe being interfered with
US Attorney General Merrick Garland on Friday denied allegations that the Justice Department interfered with an investigation of President Joe Biden’s son, Hunter. Prosecutors announced earlier this week that Hunter Biden had reached a plea deal on minor tax and gun charges with the US Attorney in his home state of Delaware. Hunter Biden is due to appear in court on 26 July after agreeing to plead guilty to two federal tax charges and admitting to illegally possessing a gun despite having a history of drug use. A whistleblower from the Internal Revenue Service alleged in testimony before the Republican-led House Ways and Means Committee released this week that the Justice Department headed by Garland had slowed the probe into Hunter Biden. Garland, in remarks to reporters on Friday, noted that the US Attorney in Delaware, David Weiss, had been appointed by former President Donald Trump, a Republican. Garland said he personally had given Weiss the authority to continue his investigation into Hunter Biden and “prosecute any way in which he wanted to.” Joe Biden’s son is also facing one count of illegal possession of a firearm. “I don’t know how it would be possible for anybody to block him from bringing a prosecution given that he has this authority,” the attorney general said. “He was given complete authority to make all decisions on his own.” Hunter Biden, 53, is the only surviving child of Joe Biden’s first marriage, which tragically ended in 1972 when his wife and baby daughter were killed in a car accident. Hunter Biden’s business dealings, especially during the time his father was vice president, have been a major target of Joe Biden’s political opponents, and continue to be probed by congressional Republicans. Hunter Biden became a regular focus of Trump’s attacks ahead of the November 2020 presidential election for his work in Ukraine and China. In his memoir, “Beautiful Things,” Hunter Biden insisted he has never done anything unethical and dismissed allegations that he displayed a lack of judgment by accepting a lucrative position on the board of Ukrainian energy company Burisma while his father was Barack Obama’s vice president. Under the plea agreement, Hunter Biden is unlikely to face prison time but will be sentenced to probation. According to the charges, Hunter Biden, a Yale-trained lawyer and lobbyist, failed to file his tax returns on time on earnings of more than $1.5 million for 2017 and 2018. In both years, he owed more than $100,000 in taxes on those earnings. Hunter Biden is also facing one count of “possession of a firearm by a person who is an unlawful user of or addicted to a controlled substance.” Hunter Biden has admitted having drug problems in the past and detailed his struggles with crack cocaine in his 2021 memoir, released months after his father took office. Hunter Biden and his wife attended a state dinner at the White House on Thursday for Indian Prime Minister Narendra Modi. Asked about his attendance at the event, White House Press Secretary Karine Jean-Pierre said “it is not uncommon for family members to attend events at the White House.” The post Garland denies Hunter Biden probe being interfered with appeared first on Daily Tribune......»»
Pandemic hammers HSBC profits in H1
HONG KONG (AFP) – HSBC on Monday said profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions. The lender reported post-tax profits of $3.1 billion while pre-tax profit was $4.3 billion, a 64 percent drop on the same period last year. Reported revenue was down nine percent at $26.7 billion. Chief executive Noel Quinn described the first six months of the year as ”some of the most challenging in living memory”. ”Our first-half performance was impacted by the COVID-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility,” he said in a statement to the Hong Kong stock exchange, Even by the standards of the current economic maelstrom engulfing global banks, HSBC has had a torrid year. Before the coronavirus crisis it was beset by disappointing profit growth, ground down by US-China trade war uncertainties and Britain’s departure from the European Union. The Asia-focused lender embarked on a huge cost-cutting initiative at the start of the year, including plans to slash some 35,000 jobs as well as trimming fat from less profitable divisions, primarily in the United States and Europe. The coronavirus upended some of that cost-cutting drive with banks hammered by market volatility and the economic slowdown caused by the pandemic. But HSBC has a further headache — geopolitical tensions via its status as a major business conduit between China and the West. HSBC makes 90 percent of its profit in Asia, with China and Hong Kong being the major drivers of growth. Caught in crossfire As a result it has found itself more vulnerable than most to the crossfire caused by the increasingly bellicose relationship between Beijing and Washington. The bank has tried to stay in Beijing’s good graces. It vocally backed a draconian national security law that Beijing imposed on Hong Kong in June to end a year of unrest and pro-democracy protests. The move sparked criticism in Washington and London but analysts saw it as an attempt to protect its access to China, which has a track record of punishing businesses that do not toe Beijing’s line. But that has not shielded it from Beijing’s wrath. Last month the bank was a subject of multiple reports in China’s state-run media claiming that it had helped to provide the evidence that led to the arrest in Canada of Huawei executive Meng Wanzhou on a US arrest warrant. HSBC released a statement on its Chinese Weibo accounts saying it had not ”framed” telecom giant Huawei or ”fabricated evidence” that led to the arrest of Meng. China’s internet censors blocked access to HSBC’s statement within hours of publication, without offering an explanation. Quinn referenced the bank’s growing political vulnerability in Monday’s statement. ”Current tensions between China and the US inevitably create challenging situations for an organization with HSBC’s footprint,” he said. ”However, the need for a bank capable of bridging the economies of East and West is acute, and we are well placed to fulfill this role,” he added. The bank’s Asia operations continued to show ”good resilience”, Quinn said, with profit before tax of $7.4 billion. Earlier this year Quinn put some of the job cuts on hold as the pandemic struck. But in Monday’s statement he vowed to press ahead with the cost-cutting. ”As we seek to accelerate our transformation in the second half of the year, I am mindful of the impact it will have for some of our people, particularly those leaving us,” he said......»»
US reaffirms support for Philippines sovereignty amid its tensions with China
Washington, DC [US], March 28 (ANI): US Secretary of Defence Llyod Austin has reaffirmed Washington's commitment to Manila in defending its sovereignty while criticising China's "dangerous" water cannon attack at the Philippine supply mission vessel on Saturday. In a telephonic conversation between Austin and his Philippine counterpart Gilberto Teodoro, the US Secretary reiterated the US-Philippines Mutual Defence Treaty.....»»
Roque: Xi, Duterte agreed to keep West Philippines Sea status quo
The Philippines under former president Rodrigo Duterte had a “gentleman’s agreement” with China to keep the status quo in the West Philippine Sea, a former Cabinet official said yesterday, as fresh tensions surround the WPS due to recent incursions by Beijing that targeted a Filipino resupply mission and a research team......»»
EcoWaste Coalition Calls Out Quezon City Stores Selling Toxic Cosmetics with Mercury
21 January 2024, Quezon City. The toxics watchdog group EcoWaste Coalition criticized some beauty product stores in Quezon City for their flagrant violation of the ban on skin-lightening products containing mercury, a health-damaging chemical.Despite the citywide ban adopted in 2018 through Ordinance No. 2767 ahead of the 2020 phase-out deadline for mercury-added cosmetics under the Minamata Convention.....»»
China satellite launch prompts Taiwan alert ahead of pivotal vote
The Taiwan defense ministry sends a security alert to mobile phone users in Taiwan around the same time Chinese state media confirms the launch of a science satellite.....»»
Japan strengthens security partnerships with ASEAN nations to contain China: Analysts
Washington DC [US], December 15 (ANI):Japan has been enhancing its security ties with various Southeast Asian nations ahead of a Japan-ASEAN summit that is scheduled to be held in Tokyo from December 16-18. According to analysts, this forum is being held to offset China's aggressive behaviour in the region, VOA News reported. Japan will host the ASEAN-Japan Commemorative Summit in Tokyo marking the 50th anniversary of ASE.....»»
Japan strengthens security partnerships with ASEAN nations to contain China: Analysts
Washington DC [US], December 15 (ANI):Japan has been enhancing its security ties with various Southeast Asian nations ahead of a Japan-ASEAN summit that is scheduled to be held in Tokyo from December 16-18. According to analysts, this forum is being held to offset China's aggressive behaviour in the region, VOA News reported. Japan will host the ASEAN-Japan Commemorative Summit in Tokyo marking the 50th anniversary of ASE.....»»
Analysts: Japan Strengthening ASEAN Security Ties to Contain China
washington - Tokyo has been expanding its security ties with multiple Southeast Asian countries ahead of a Japan-ASEAN summit that analysts see as a forum to offset China's aggressive behavior in the region.Japan is scheduled to host the ASEAN-Japan Commemorative Summit in Tokyo from Saturday to Monday, marking the 50th anniversary of ASEAN-Japan friendship and cooperation.Japan and 10 ASEAN countries see.....»»
Analysts: Japan Strengthening ASEAN Security Ties to Contain China
washington - Tokyo has been expanding its security ties with multiple Southeast Asian countries ahead of a Japan-ASEAN summit that analysts see as a forum to offset China's aggressive behavior in the region.Japan is scheduled to host the ASEAN-Japan Commemorative Summit in Tokyo from Saturday to Monday, marking the 50th anniversary of ASEAN-Japan friendship and cooperation.Japan and 10 ASEAN countries see.....»»
Tenorio makes PBA comeback after beating Big C
Barangay Ginebra's LA Tenorio will be making his long-awaited comeback to the Philippine Basketball Association (PBA) after successfully beating colon cancer. Tenorio, who underwent a six-month treatment in Singapore, is now in remission and ready to step back onto the court. The 39-year-old point guard expressed his excitement and high spirits ahead of his first game in 10 months. Despite acknowledging the challenge of readjusting to competitive basketball, Tenorio is determined to fit in seamlessly with his teammates. He also expressed his gratitude to his family, friends, management, coaches, and the entire sports community for their support during his recovery. Tenorio, known as the Iron Man for his impressive streak of 744 consecutive games in the PBA, had his streak interrupted due to a groin injury and subsequent cancer diagnosis. During his time away from the game, he served as an assistant coach for Gilas Pilipinas in the 19th China Asian Games, where the Philippines emerged victorious......»»
Stock markets dip as US inflation comes into view
Stock markets drifted lower on Monday as investors eyed the release this week of key US inflation data that could guide Federal Reserve plans for interest rates going into the new year. Oil prices fell nearly two percent before bouncing higher and then sliding back lower as dealers awaited a delayed meeting of OPEC and its allies to decide over output levels. With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action, though analysts were upbeat about the end of the year. "Although there isn't much buying interest at the moment, it's more notable that there still isn't much selling interest," said Briefing.com analyst Patrick O'Hare. The retreat in equities comes after a recent run-up across world stock markets fuelled by bets the US central bank has finished lifting interest rates as inflation comes down and the jobs market comes off the boil. Expectations that the Federal Reserve is done with hiking rates continued to weigh on the dollar Monday. The main focus this week is the release Thursday of the personal consumption expenditures (PCE) price index, the Fed's preferred gauge of inflation. "These numbers will be closely scrutinized for insights into inflation trends and their potential implications for monetary policy decisions," said SPI Asset Management's Stephen Innes. "While the current backdrop does not signify 'mission accomplished' in terms of addressing inflation, policymakers must now focus on planning for the next phase of the economic battle." Still, observers were upbeat about the outlook, with the latest weakness blamed on traders taking a breather after a strong month. Tony Sycamore, at IG Group, said early December could see some selling as investors "rebuild energy and (look) to set up for the end-of-year fireworks". Others said a drop in Wall Street's VIX "fear gauge" -- a measure of equity volatility -- to its lowest since January 2020 suggested investors were getting their mojo back. Eyes are also on developments at OPEC after the group and its allies, notably Russia, delayed a meeting aimed at agreeing production quotas, with some African countries said to be baulking at Saudi Arabian calls for more cuts. The group is thought to be close to reaching an agreement that could see the Saudis and Russia extend output reductions into the new year. OANDA analyst Craig Erlam said the OPEC+ group has shown in the past it usually can get a deal done, even if Saudi Arabia and Russia need shoulder bigger cuts. "But the question is how far they'll push it, given the recent trend in oil prices and increasing concerns around global growth next year," said Erlam. Crude prices have fallen in recent weeks as demand is seen coming down owing to slowing economies, particularly China's, and the Middle East conflict appears to not have expanded to include other countries in the region. Key figures around 1630 GMT New York - DOW: DOWN 0.2 percent at 35,338.58 points London - FTSE 100: DOWN 0.4 percent at 7,460.70 (close) Paris - CAC 40: DOWN 0.4 percent at 7,265.49 (close) Frankfurt - DAX: DOWN 0.4 percent at 15,966.37 (close) EURO STOXX 50: DOWN 0.4 percent at 4,354.41 (close) Tokyo - Nikkei 225: DOWN 0.5 percent at 33,447.67 (close) Hong Kong - Hang Seng Index: DOWN 0.2 percent at 17,525.06 (close) Shanghai - Composite: DOWN 0.3 percent at 3,031.70 (close) Euro/dollar: UP at $1.0935 from $1.0922 Pound/dollar: UP at $1.2611 from $1.2585 Euro/pound: DOWN at 86.70 pence from 86.79 pence Dollar/yen: DOWN at 148.94 from 149.56 yen West Texas Intermediate: DOWN 0.1 percent at $75.44 per barrel Brent North Sea crude: DOWN 0.3 percent at $80.36 per barrel .....»»
Malta hosts fresh round of Ukraine-backed peace talks
A third round of Ukrainian-backed peace talks opened in Malta Saturday with representatives from more than 60 countries but without Moscow, which denounced it as a "blatantly anti-Russian event". Ukrainian President Volodymyr Zelensky addressed the first of two days of closed-door talks among national security and policy advisors, which he hopes will drum up support for his 10-point plan to end the war. In a statement on social media afterward, he said 66 countries had taken part in the talks, proof that his plan "has gradually become global". It follows similar meetings in Jeddah and Copenhagen this summer, with the Ukrainians hoping to eventually hold a summit at the level of heads of state. "The meeting confirmed the broad interest and increasing support for the key elements of Ukraine's Peace Formula," an EU official said Saturday. Against the backdrop of the Hamas-Israel war, it also showed "that restoration of just peace is important beyond Ukraine -- it is about a global plea for respect of international law". Russian foreign ministry spokeswoman Maria Zakharova however has dismissed the Malta talks as a "blatantly anti-Russian event". They had "nothing to do with the search for a peaceful resolution", she said on Thursday. "Obviously such gatherings have absolutely no perspective, they are simply counterproductive." China absent Participants in Malta included the United States, the EU, and Britain, staunch supporters of Kyiv following Russia's February 2022 invasion. Turkey, which has offered itself as a mediator between Ukraine and Russia, was also represented, according to a list seen by AFP before the talks opened. So too were South Africa, Brazil, and India -- all members of the influential BRICS bloc, which also includes Russia. South Africa and India have not condemned Russia's invasion, while Brazil has refused to join Western nations in sending arms to Ukraine or imposing sanctions on Moscow. China, which insists it is neutral and refuses to criticize the invasion, did not attend, despite being present in Jeddah in August, according to the EU official. Organizers were hoping for a joint statement from the Malta summit after both previous meetings ended without a final declaration. Andriy Yermak, the head of Ukraine's presidential office, said on Telegram that the discussions on Saturday were "lively" and focused on five key areas, notably the issue of Ukraine's territorial integrity. Zelensky's peace plan calls for Russia to withdraw all its troops from Ukraine's internationally recognized borders, including from the territory of Crimea, which it annexed in 2014. Russia, which claimed last year to have annexed the four Ukrainian regions of Lugansk, Donetsk, Kherson, and Zaporizhzhia, has rejected any settlement that would involve giving up land. The Malta talks are also looking at nuclear security, notably the need to ensure the safety of the Zaporizhzhia nuclear power plant, and how to protect Ukraine's energy infrastructure as winter approaches. The issue of food security was also on the agenda, as Russia blocks grain exports from Ukraine; and humanitarian issues, including the release of prisoners and the return of Ukrainian children to taken to Russia. "Russia will have to give in to the international community. It will have to accept our common conditions," Yermak said. Both Russia and Ukraine are preparing for a grueling winter ahead, with Ukraine warning of renewed strikes on its energy infrastructure and Russia pushing back against Kyiv's counteroffensive. The post Malta hosts fresh round of Ukraine-backed peace talks appeared first on Daily Tribune......»»
Steven Tan named Winshang’s International Influential Person in Shopping Centers
SM Supermalls president Steven Tan was recognized as one of Winshang’s Golden Censer Prize winners for being “The International Influential Person of the Year 2023 in Shopping Centers” at the 2023 China (International) Shopping Center Summit in Shanghai on 24 August. The Golden Censer Prize is a large-scale professional recognition of China’s commercial real estate and famous brands initiated by Winshang, in collaboration with mainstream industrial media, based on field research, data analysis, and media surveys among others. Tan, who assumed the role of president of SM Supermalls in 2020, has been a key figure in the growth and innovation of the mall chain in the Philippines and China. Retail legacy As President, he oversees mall operations in both countries, carrying forward SM’s 65-year legacy of retail innovation and outstanding customer service. Under his leadership, SM Supermalls withstood the challenges of the pandemic and rebounded as the economy slowly opened up amid the global health crisis. With the guidance of the Sy family, Tan made sure that SM responded with an agile, innovative, and proactive approach to cater to the needs of all stakeholders, from employees and tenants to shoppers. Mall’s strategies The mall’s strategies — adapting the tenancy mix, creating novel reasons to attract visitors to malls, targeting new customer segments through innovative marketing, and developing omnichannel services — enabled them to gain the trust and loyalty of modern shoppers during the pandemic. Because of this, SM managed to recover and exceed pre-pandemic revenues and income by 2023. In line with its latest expansion program, SM continues to open new malls in China and the Philippines. This brings the total number of shopping centers, locally and internationally, under Tan’s stewardship to 93, featuring a cumulative construction area of over 10.8 million square meters and a daily foot traffic of more than 4.2 million. The latest SM malls to open are SM City Yangzhou last 28 September 2023 (left) and SM City Sto. Tomas, Batangas last 27 October 2023 (right). The latest malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto. Tomas, Batangas last 27 October 2023. Numerous accolades Tan’s exceptional efforts were also honored by various international organizations over the years. He received numerous accolades including the 2021 Asia’s Most Influential by Tatler Asia, the 2022 Asia Pacific Women’s Empowerment Principles Awards Leadership Commitment by United Nations Women, and the Global Filipino Executive of the Year at the Asian Chief Executive Officer Awards just to name a few. His dedication and visionary leadership continue to shape the landscape of shopping centers and commercial real estate, not just in Asia but across the globe. The post Steven Tan named Winshang’s International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
Developing countries urged to diversify production, export markets
Regional trade as well as South–South trade can provide a significant opportunity for developing countries to diversify their production and export basket, according to the United Nations’ trade and development body. “Given the new industrial policy initiatives being adopted in advanced countries, which may shorten their existing supply chains, developing countries will need to look for new outlets to diversify their export markets,” the United Nations Conference on Trade and Development said in its Trade and Development Report 2023. The report said that since 1995, South–South merchandise trade has grown faster than global trade and faster than North–South trade. In 2022, South–South trade accounted for around 54 percent of South’s total trade. It has also grown steadily in food, fuel, ores and metals, and fertilizers, with many developing countries, including Brazil, China, India, Indonesia and Thailand playing major roles, it said. Critical role To further boost South–South trade cooperation, the Global System of Trade Preferences initiative of UNCTAD can play a critical role by providing an opportunity to negotiate tariff reductions among developing countries in products based on mutual preferences, among others. GSTP is an agile partnership framework that allows its members to take a variety of cooperative actions in the area of tariffs, para-tariffs, non-tariff measures, direct trade measures and sectoral arrangements. Citing earlier reports, UNCTAD said GSTP can also support a just green transition in the developing countries by focusing on green products and facilitating green technology transfers. Apart from South–South trade, the report said regional integration programs such as the African Continental Free Trade Area, to the extent they support diversification and the benefits are broadly shared, can also mitigate the negative effects of the current situation, including with respect to climate change and food insecurity. Rollercoaster ride UNCTAD’s Trade and Development Report 2023 said that after experiencing a rollercoaster ride in 2020 — 2022, global trade is forecast to grow about 1 percent in 2023, significantly below world economic output growth, with merchandise trade hovering in negative territory. The post Developing countries urged to diversify production, export markets appeared first on Daily Tribune......»»