We are sorry, the requested page does not exist
Scramble in Wall Street Following ICBC Hack
Title: Cyberattack on ICBC’s US Brokerage Raises Concerns of Financial Stability In a recent cyber assault on the Industrial and Commercial Bank of China’s (ICBC).....»»
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......»»
SM’s Steven Tan named Winshang’s 2023 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 2023. 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. As president, he oversees mall operations in both countries, carrying forward SM's 65-year legacy of retail innovation and outstanding customer service. SM Mall of Asia Complex 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. SM City Yangzhou SM City Sto. Tomas 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 their 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 malls to open were SM City Yangzhou last 28 September 2023 and SM City Sto Tomas, Batangas last 27 October 2023. 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 also across the globe. Steven Tan receives the 2023 PeopleAsia People of the Year Award. Tan shared the Winshang Golden Censer Prize with his two co-awardees, namely Powerlong Real Estate Holding’s Co-president Chen Deli, and SCE Commercial Management Holdings' chairman of the board Huang Lun. SM Supermalls is a subsidiary of SM Prime Holdings Inc., with 85 malls in the Philippines and 8 in China. The post SM’s Steven Tan named Winshang’s 2023 International Influential Person in Shopping Centers appeared first on Daily Tribune......»»
Apple scraps Jon Stewart show over China, AI clashes: report
US comedian Jon Stewart's talk show on Apple TV+ has reportedly been canceled after just two series due to clashes between its host and the company over topics such as China and artificial intelligence. Stewart told staff that executives from Apple -- which has vast commercial interests in China and AI -- had expressed concern over proposed new content for "The Problem with Jon Stewart," The New York Times said. Apple did not immediately respond to AFP's request for comment. Stewart became a household name in the United States as the host of Comedy Central's long-running "The Daily Show," before stepping down to pursue other interests in 2015. Streaming platform Apple TV+ launched "The Problem with Jon Stewart" as a flagship current affairs show in 2021. The show takes a satirical look at a different topical issue each week. Episodes in the most recent season included "Globalization: Made In America" and "Searching for Allies." Since Apple first established a presence in China in 1993, the US tech giant has grown into a major provider of smartphones, laptops and consumer electronics in the country. Apple chief Tim Cook made a surprise visit to China this month, and he has previously spoken of his company's "symbiotic" relationship with the nation. In an earnings call in August, Cook said Apple views AI and machine learning as "core fundamental technologies that are integral to virtually every product that we build." amz/hg/sst © Agence France-Presse The post Apple scraps Jon Stewart show over China, AI clashes: report appeared first on Daily Tribune......»»
Phl economy still strongest this year — RCBC
The Philippine economy will remain among Asia’s strongest in the fourth quarter despite a possible higher interest rate because of strong consumer demand for certain products and services and more employed Filipinos, the chief economist of Rizal Commercial Banking Corporation said Saturday. “This growth forecast is still among the fastest in the region because our economy is doing well,” RCBC’s Michael Ricafort said. The World Bank recently downgraded this year’s Philippine economic growth to 5.6 percent from 6 percent due to inflation risks, apart from lower government spending and weaker demand for exports. However, it is still higher than China’s 5.1 percent, Indonesia’s 4.9 percent, and Malaysia’s 4.3 percent growth forecast. Ricafort said the Bangko Sentral ng Pilipinas (BSP) might raise its policy rate this year to slow inflation to 4 percent by year-end after it accelerated again to 6.1 percent last month. “The BSP is working to bring down prices of goods and services. As an unintended consequence, the economy could slow down. Borrowing costs for business owners also increase and consumer demand weakens,” he said. Ricafort said global oil prices have started falling which could discourage the central bank from raising its rate drastically. “Global oil prices have declined to $82 to $83 per barrel from a peak of $95 per barrel last month or since the war between oil-rich countries Russia and Ukraine began,” the economist said. He also expected a downtrend in rice prices starting this month as he said local farmers have begun collecting fresh harvests. “Inflation quickened last month mainly from higher prices of rice which accounted for nearly 9 percent of the inflation basket and grew 17 percent year-on-year,” Ricafort said. While a higher interest rate aims to slow consumption, Ricafort said the continued flow of remittances from overseas Filipino workers, or at least 3 percent growth yearly will still support substantial levels of consumer spending, especially during the Christmas season. “That is more than $40 billion a year. That’s the fourth largest in the world after India, China and Mexico,” the economist said. He added more Filipinos or 800,000 could earn from business process outsourcing or BPO this year as the industry’s revenue could rise from $32.5 billion to $59 billion based on data from the Contact Center Association of the Philippines. Another growth area is tourism, which Ricafort said saw 4 million foreign visitors last month, nearing the 4.8 million full-year target of the government. He added higher productivity among Filipinos is also expected as the country’s unemployment rate declined to 4.4 percent in August from 4.8 percent in July, based on data from the Philippine Statistics Authority. Moving forward, Ricafort said the government must improve science and technology education for higher quality jobs and increase spending on infrastructure amid the full reopening of most economies. “We are now fully reopened. Students are also back in schools which encourages putting up food businesses. Labor market in the US also improved which will affect export trade,” he said. Ricafort added the government could continue distributing financial and other assistance to farmers to control inflation. He believed the inflation rate will approach 3 percent next year, close to the ideal 2 percent for healthier economic growth. The post Phl economy still strongest this year — RCBC appeared first on Daily Tribune......»»
Amazon launches test satellites in challenge to Musk’s Starlink
Amazon launched two satellites on Friday as part of its plan to deliver the internet from space and compete with Elon Musk's Starlink service. The Atlas V rocket carrying the satellites lifted off from Cape Canaveral in Florida at 2:06 pm local time (6:06 pm GMT). The launch was carried out by the United Launch Alliance (ULA) industrial group, a joint venture between Boeing and Lockheed Martin. Once up and running, the company founded by Jeff Bezos says its Project Kuiper will provide "fast, affordable broadband to unserved and underserved communities around the world," with a constellation of more than 3,200 satellites in low Earth orbit (LEO). "We've done extensive testing here in our lab and have a high degree of confidence in our satellite design, but there's no substitute for on-orbit testing," said Rajeev Badyal, Project Kuiper's vice president of technology. The company has said it would invest $10 billion in the project and has booked 77 heavy-lift launches with commercial providers Arianespace, ULA, and Bezos-owned Blue Origin. The first operational satellites of the Kuiper project are due to be launched in early 2024, according to Amazon, which hopes for initial tests with customers at the end of next year. The test on Friday attempted to establish contact between the probes and Earth, deploy their solar panels, and confirm that all instruments are operating correctly and at the desired temperatures. The two prototypes will then be removed from orbit and disintegrated in the Earth's atmosphere at the end of the test mission. These services are designed to provide internet access to even the most remote and underserved areas around the world, including war zones or disaster-struck areas. Musk's SpaceX launched the first batch of its more than 3,700 operational Starlink satellites in 2019 and is by far the biggest player. Musk's ownership of Starlink caused uproar in Ukraine last month when it was revealed that he refused to turn on the service for a planned attack by Kyiv forces on Russia's Black Sea navy fleet last year. London-headquartered OneWeb is another early entrant in the emerging sector. Given the technology's strategic importance, governments are also keen to join the rush into the sector. China plans to launch 13,000 satellites as part of its GuoWang constellation, while Canada's Telesat will add 300 and German start-up Rivada is eyeing 600. That will be in addition to the European Union's Iris project -- 170 satellites -- and the 300-500 satellites planned to be launched by the US military's Space Development Agency. The post Amazon launches test satellites in challenge to Musk’s Starlink appeared first on Daily Tribune......»»
Bong Go to PCG: File charges vs commercial vessel involved in ramming incident in South China Sea
LAPU-LAPU CITY, Cebu- Senator Christopher “Bong” Go is asking the Philippine Coast Guard (PCG) to pursue the filing of charges against the operator of the foreign commercial vessel that hit a Filipino fishing boat northwest of Scarborough Shoal at dawn on Monday, October 2. The incident resulted in the death of three Filipino fishermen. Go,.....»»
Asia Pacific seed producers impressed with Phl hybrid rice achievement
A field study tour organized by over 50 member countries of the Asia Pacific Seeds Association (APSA) was very "impressed with the milestones achieved by the country in hybrid rice seeds production" as well as the close collaboration among the stakeholders in the hybrid rice sector, the Department of Agriculture's Rice Industry Development reported Thursday. DA-RID Undersecretary Leo Sebastian said this is the first field study tour in the Philippines, which stemmed from the invitation by Dr. Frisco Malabanan, who is the current executive committee member from the Philippines and is now with the Masagana Rice Industry Development Program. He was a former chairman of the Special Interest Group on Field Crops (SIG-FC). APSA is the largest regional seed association in the world with more than 600 members, according to its website. Headquartered in Bangkok, APSA promotes sustainable agriculture through the development, production, and trade of quality seeds within, to, and from the Asia-Pacific region, and continues to maintain strong links with a number of key international organizations such as the Food and Agriculture Organization (FAO), the Organization for Economic Co-operation and Development, and the World Trade Organization. Heidi Gallant, executive director of APSA, provides more insights into what the association means to its members. Its members represent the entire spectrum of the seed industry—both the public and private sectors—including national seed associations, government agencies, public and private seed companies, and associate members, which represent organizations outside of the Asia region. The majority of its members are seed enterprises, including breeders, producers, distributors, retailers, exporters, and importers. Countries with the highest number of members are China, 20 percent; India, 19 percent; Pakistan, Bangladesh, and Japan with 7 percent each; and Thailand, South Korea, and Chinese-Taipei with 4 percent each. Sebastian said, that of the 15 delegates that joined the just-concluded field study tour, three companies were from China and others were from India, Sri Lanka, Bangladesh, Thailand, Malaysia, and the Philippines. The APSA study tour was timed with the holding of the 16th National Rice Technology Forum of the private sector group, Rice Board, in Hagonoy, Davao del Sur — which showcased clustered demo farms of hybrid rice companies, soil nutrition companies, and digital companies involved in the rice sector, Malabanan said. The delegates, according to Sebastian, were impressed how the Philippines could pool all seed production companies in one site (during the NRTF tour in Davao Sur), which Malabanan said was a result of the close collaboration between government and private companies. They went to the seed facilities (from drying, cleaning, and sacking of seeds) at the site of SL Agritech in Lupon Davao Oriental. They had a whole day of farm visits to the farms of SL Agritech, Tao Seeds, Longping, and BioSeeds where they saw the actual parental lines (male and female) of the seed companies in their flowering stages. Last Thursday, they participated in the 16th NRTF forum in Hagonoy, Davao del Sur where they witnessed 18 companies (each with more than a hectare) of currently standing palay crops (both hybrid and inbred) as well as soil enrichment producers and a company that promotes drones for direct seeding of palay seeds, fertilizers and pesticide application. There, Sebastian added, the delegates were awed by the contiguous areas of planted farms by competing companies, which is rather inconceivable in other countries. That same day, they visited the farms of commercial seed companies, Bayer Crop Science and SL Agritech in Barangay Ruparan, Digos City, and in Hagonoy, Davao del Sur. From here they visited the hybrid corn farms in Kapaling, Davao del Norte, and Tagum of Bayer Science and Syngenta Phils. At the Bayer field visit, a 50-hectare integrated farm of a farmer that used to be planted with bananas before the pandemic had been converted into hybrid rice, corn, and high-value crops. The participants who left the Philippines last Saturday, also visited a learning site by DA Agriculture Training Institution showcasing an integrated farming system — high-value crops, poultry, and dairy farm — as part of the farm diversification to further increase farmers’ incomes. The post Asia Pacific seed producers impressed with Phl hybrid rice achievement appeared first on Daily Tribune......»»
Moonrise marvels at Lucky Chinatown
Megaworld Lifestyle Malls and Lucky Chinatown are leading the grand community celebration of the Mid-Autumn Festival with a week-long event from 24 September to 1 October. This year’s grand cosmic-themed event, Moonrise Marvels, is poised to be a culmination of art, culture, and traditions, serving as a beacon of unity for the thriving Filipino-Chinese community. “For years, the Mid-Autumn Festival has held a special place in the hearts of our community, and this year, we’re excited to give the people a celebration that honors the customs of the past while pushing art and culture forward,” shared Lucky Chinatown general manager Norico Mizoguchi. Here’s everything to look forward to at the many events at the Atrium, Lucky Chinatown Mall: Cultural Serenity offers an opportunity for attendees to witness an eclectic blend of cultures through a mesmerizing showcase of performances presented by the esteemed Philippine Lingnam Athletic Federation Inc. on 24 September. Moonlit Treasures beckons visitors to embark on an enchanting journey through a wide selection of items to shop for, from delectable mooncake delights, enchanting charms, collectibles, and so much more. From 25 to 30 September. Guests are invited to embark on a magical journey through a world of illuminated creativity by taking part in a mesmerizing lantern parade that showcases the cultures, artistry, and unity of the Fil-Chi community on 27 September. Galaxy Canvas is a celebration of artistic innovation and self-expression, encouraging participants to let their imaginations shine as they step into an exhilarating drip painting competition. Aside from the competition, attendees are invited to hop into their creative spirit and embark on an imaginative journey through a bunny-themed drip painting workshop, held in an exciting partnership with ALL About Art PH on 30 September. Guests can discover the art of crafting China’s iconic dessert pastry, the mooncake, through this interactive and engaging workshop, offering a hands-on mooncake making activity guided by expert instructors who have mastered the age-old tradition on 30 September. The Cosmic Dice Game provides an inclusive space for friendly competition and camaraderie among the community, bringing people together to foster a sense of unity and shared enjoyment in the cosmic realm of chance and strategy on 1 October. Wander off on a cosmic celebration filled with culture, arts, and fun activities with the community and visit Lucky Chinatown. Megaworld Lifestyle Malls is the retail and commercial development arm of Megaworld Corp., one of the Philippines’ largest real-estate companies, and the leading lifestyle mall developer. The post Moonrise marvels at Lucky Chinatown appeared first on Daily Tribune......»»
Chinese blockade on Taiwan would be ‘monster risk’: Pentagon
A Chinese blockade on the island democracy of Taiwan would be a "monster risk" for Beijing and likely to fail, while a military invasion would be extremely difficult, senior Pentagon officials told Congress Tuesday. Beijing claims self-ruled Taiwan as its territory, vowing to seize it one day, and officials in Washington -- a key ally of Taipei -- have cited 2027 as a possible timeline for an invasion. The growing worries come as China has ramped up military pressures on Taiwan, holding large-scale wargames simulating a blockade on the island, while conducting near-daily warplane incursions and sending Chinese vessels around its waters. Ely Ratner, the Pentagon's assistant defense secretary for Indo-Pacific Security Affairs, said a blockade would be "a monster risk for the PRC (People's Republic of China)," referring to China by its official name. "It would likely not succeed, and it would be a huge risk of escalation for the PRC, where it would likely have to consider whether or not it was willing to ultimately start attacking commercial maritime vessels," Ratner told the House Armed Services Committee. "A blockade would be devastating to the international community and would likely induce the broad-based wide deep response from the international community... that Beijing would likely be trying to avoid," he said. He was echoed by Army Major General Joseph McGee, a vice director of the Joint Staff. "It is an option but it is probably not a highly likely military option... It is much easier to talk about a blockade than actually do a blockade," McGee said. He also pointed to island's mountainous terrain and the Taiwan Strait waterway separating it from mainland China, saying "there is absolutely nothing easy about a PLA (People's Liberation Army) invasion of Taiwan." "They would have to mass tens of thousands, maybe hundreds of thousands of troops on the eastern coast and that would be a clear signal," McGee said, adding that combined amphibious and airborne air assault operations would be "an extremely complicated joint operation." "That would leave them in that (Taiwan Strait) gap, 90 to 100 miles -- that would lead them susceptible to all the fire that could be brought to an invading force that was already telegraphing their intentions." China's latest massive show of force came Monday when Beijing sent more than 100 warplanes in 24 hours around the island, prompting Taipei to decry the "destructive unilateral actions." Also during Tuesday's hearing, Mira Resnick, a deputy assistant secretary at the State Department, warned a US government shutdown could affect foreign weapons sales and licenses to its allies, including Taiwan. "This is something we would like to avoid," Resnick said. Her comments come as the United States is less than two weeks from a potential government shutdown, as lawmakers struggle to agree on a short-term spending bill -- an impasse that could also have repercussions on military and humanitarian aid to Ukraine. The post Chinese blockade on Taiwan would be ‘monster risk’: Pentagon appeared first on Daily Tribune......»»
Biden to host Pacific Island leaders next week
US President Joe Biden will host the leaders of Pacific Island nations at the White House on Monday, his spokeswoman said, as Washington tries to counter Chinese influence in the region. Biden will "reaffirm the US commitment to our shared regional priorities," including climate change, economic growth and countering illegal fishing, Press Secretary Karine Jean-Pierre said in a statement Tuesday. The meeting comes four months after Biden was forced to scrap a historic visit to a summit of the Pacific Island Forum in Papua New Guinea, due to talks to avoid a US debt default. Biden hosted his first summit with the forum -- an 18-member bloc of mostly small states scattered across a huge swath of ocean -- last year at the White House. The South Pacific was seen as a relative diplomatic backwater after World War II, but it is an increasingly important arena for powers to compete for commercial, political and military influence. The Biden administration has particularly been pushing to boost its presence there against a rising China, which is itself keen to get a strategic toe-hold in the South Pacific. During this year's meeting, Biden will hear from leaders on "how we can increase cooperation to address the mounting challenges of our time," Jean-Pierre said. As well as being at the center of a superpower tussle, the region is also badly affected by rising sea levels due to climate change. Biden told the UN General Assembly earlier Tuesday that he wanted to "responsibly manage the competition" between the United States and China "so it does not tip into conflict." The post Biden to host Pacific Island leaders next week appeared first on Daily Tribune......»»
Taiwan: Musk does not deserve respect
American billionaire and X owner Elon Musk angered Taiwan on Thursday for calling the self-ruled island “an integral part” of China. Musk made the remarks while comparing Taiwan to the US state of Hawaii in a podcast. Musk “blindly flatters China and if (his) comments are made out of commercial interests, such comments are not worthy of being taken seriously and the speaker does not deserve respect,” Foreign Ministry spokesperson Jeff Liu told reporters. “We don’t know if Musk’s free will is for sale but Taiwan is not for sale, that’s for sure,” he said. Musk has sparked anger in Taiwan before, most recently in May for saying China will inevitably integrate Taiwan. “The official policy of China is that Taiwan should be integrated... One does not need to read between the lines,” he told CNBC in an interview. “There is a certain inevitability to the situation,” Musk said. Beijing claims Taiwan as its own territory awaiting “reunification” and has intensified pressure since independence-leaning Taiwanese President Tsai Ing-wen came to power in 2016. The policy was again manifested by the war games conducted by the Chinese navy near Taiwan. Dozens of Chinese warplanes and 10 navy ships were detected around Taiwan between Wednesday morning and Thursday morning, the island’s defense ministry said on Thursday after warning that Beijing was conducting air and sea drills in the Western Pacific. The post Taiwan: Musk does not deserve respect appeared first on Daily Tribune......»»
Papua New Guinea is fifth nation to open Jerusalem embassy
Pacific island nation Papua New Guinea opened its embassy to Israel in Jerusalem on Tuesday, becoming only the fifth country to have its mission in the holy city. The status of Jerusalem is the most sensitive issue of the Israeli-Palestinian conflict. Papua New Guinea's Prime Minister James Marape inaugurated the embassy in the presence of his Israeli counterpart Benjamin Netanyahu at a function in Jerusalem. "Many nations choose not to open their embassies in Jerusalem, but we made the conscious choice," said Marape, whose country previously had no embassy in Israel. "For us to call ourselves Christian, paying respect to God will not be complete without recognizing that Jerusalem is the universal capital of the people and nation of Israel," he said, inviting Netanyahu to open Israel's embassy in Papua New Guinea. Netanyahu welcomed the opening of the mission in Jerusalem, making Papua New Guinea the first Asia-Pacific country to do so. "We are very proud and very appreciative of that fact," he said, adding that the new link between the two countries "will not only enable us to cherish the past, but seize the future". Most of the countries that have a formal diplomatic presence in Israel have their embassies in Tel Aviv, the country's commercial center. Only a handful of countries have their missions in Jerusalem -- the United States, Kosovo, Guatemala, and Honduras. Papua New Guinea's decision follows a landmark security pact, tabled in the country's parliament in June and obtained by AFP, which allows the US military to develop and operate out of bases in Papua New Guinea. The pact underpins Washington's effort to outflank China in the Pacific. After capturing it in 1967, Israel annexed east Jerusalem, including the Old City, in a move never recognized by the international community. Israel views the whole city as its capital, a stance backed by former US president Donald Trump, who moved Washington's embassy there. About 230,000 Israelis live in annexed east Jerusalem, along with at least 360,000 Palestinians who want to make the sector the capital of their future independent state. Peace talks have been moribund since 2014, and violence in the Israeli-Palestinian conflict has intensified since last year. The post Papua New Guinea is fifth nation to open Jerusalem embassy appeared first on Daily Tribune......»»
What’s in a dash?
China last week released a new map that expanded its original 9-dash line territorial claim in the South China Sea with the addition of a 10th dash east of Taiwan. That move by Beijing drew strong condemnation from the Philippines, Malaysia and India, and a statement of concern from the United States. Other nations, especially those with overlapping claims in the South China Sea, can be expected to also vigorously oppose Beijing’s new map which was built on the original claim it first floated in the 1940s. While the Philippines resoundingly won its case against China before the Permanent Court of Arbitration in The Hague with a final ruling in 2016, Beijing has refused to be bound by it and now mocks the same with a 10-dash line map. Just to recap, the arbitral court recognized the Philippines’ maritime entitlement in the West Philippine Sea, which overlaps with the South China Sea. At the same time, it declared China’s sovereign claim over nearly the entire SCS legally and historically baseless. The addition of the 10th dash east of Taiwan is troubling because it may be used by Beijing to lay claim to the Pratas Islands, which are claimed not only by Taiwan but also by Vietnam. Located in the northern part of the South China Sea, the Pratas Islands are strategically important because from there one may control access to the Taiwan Strait. Geopolitical experts are warning that China’s new map may be preparatory to Beijing building military bases in the Pratas as it has done in the Mischief, Gaven, Hughes and Cuarteron reefs, just to name a few. Beijing’s control of passage in and out of the Taiwan Strait is simply inconceivable and unacceptable. Without a doubt, the Taiwan Strait is a vital commercial waterway that connects the Pacific Ocean and the South China Sea, one of the busiest shipping lanes in the world, with an estimated half a million ships passing through it each year. The strait is critical for trade between China, Japan, South Korea, and the US. It is also a major oil and gas shipping route from the Middle East to East Asia. The numbers should give us an idea why China’s 10th dash is being pilloried by nations as inconsistent with international law that guarantees the freedom of navigation. An estimate had put the value of goods transported through the Taiwan Strait at $1.5 trillion in 2022, making it the world’s third busiest strait, after the Strait of Hormuz and the Malacca Strait. China, of course, claims Taiwan as its territory and, in fact, its President, Xi Jinping, has vowed to retake it by force if it comes to that. China has claimed the strait as its internal waters, but the US does not recognize that claim. One possibility looms large on the horizon: That China will use the 10-dash line claim to justify its continued militarization of the South China Sea, leading to heightened tension between it and the rest of the world that fears unwarranted control by Beijing of the Taiwan Strait. It has to be emphasized that both the 9-dash line and 10-dash line claims of China have not been recognized by international law. The United Nations Convention on the Law of the Sea, or UNCLOS, which is the main international treaty governing the use of the oceans, does not recognize any country’s right to claim territorial waters beyond its 200-nautical-mile exclusive economic zone. As China has yet to formally adopt the 10-dash line, however, there’s a need to review how the arbitral court had ruled in favor of the Philippines in 2016 based on three main findings: First, China has not historically exercised exclusive control over the waters within the nine-dash line; second, the line cannot be considered a valid maritime boundary; and third, China’s actions in the South China Sea, including its land reclamation activities, have violated the Philippines’ sovereign rights and its exclusive economic zone. While Beijing may choose to ignore the arbitral ruling, it is nonetheless a strong legal opinion on the matter that could embolden other countries to challenge China’s overreach into their respective territories. China’s actions in the South China Sea are a reminder of its growing assertiveness in the region. Beijing has been steadily militarizing its claims in the South China Sea, and it has also been using its economic power to pressure other countries into accepting its claims. The world must stand firm against China’s aggression and make it clear that nations will not tolerate Beijing’s attempts to bully its neighbors or violate international law. The stakes are high in the South China Sea. The region is home to some of the world’s most important shipping lanes, and it is also rich in natural resources. China cannot be allowed to have its way and put the region in a stranglehold. The post What’s in a dash? appeared first on Daily Tribune......»»
‘Velarde map trumps China’s fabrication’
China’s new map expanding its nine-dash line territorial claim in the South China Sea is undermining the peace and security in the Asia-Pacific Region, geopolitical analyst Marlon Villarin told Daily Tribune’s sister publication Dyaryo Tirada over the weekend. Appearing in the digital show “Hot Patatas,” the University of Santo Tomas political science professor belittled Beijing’s new “standard map” for 2023 as a mere fabrication that would not stand scrutiny against the so-called Velarde map. The Velarde map is one of the oldest maps in the world, the one that the Philippines used to stake its territorial claim in the West Philippine Sea before the Permanent Court of Arbitration at The Hague. In 2016, the arbitral court affirmed that the Philippines holds rights over its exclusive economic zones in the WPS while dismissing China’s nine-dash line claim to nearly the entire South China Sea for being without legal or historical basis. “As things stand, they (Chinese) seemed to have fabricated (the nine-dash line claim). On the other hand, one of the oldest maps, the Velarde map, has helped us a lot,” Villarin told Tirada editor Rose Novenario. “It showed that it (WPS) is part of our territory.” [gallery size="full" ids="179079,179078,179076"] Discredited original If China’s nine-dash line map had been set aside by the arbitral court, it follows that its 10-dash line claim also has no basis, it being an expanded version of the discredited original, other political analysts have posited. Drawn by Jesuit priest Father Pedro Murillo Velarde, the map was published in Manila in 1734 and was described as “the first and most important scientific map in the Philippines.” Titled “Mapa de Las Yslas Pilipinas Hecho Por el Pe. Pedro Murillo de Compa. De Jesus,” the drawing has been instrumental, along with 270 other documents, in refuting China’s claim that it owns nearly the entire SCS. The WPS overlaps with the bigger SCS, where Chinese vessels, including from its navy and coast guard, had been harassing Filipino fishermen and Philippine-flagged ships. Aside from the Philippines, India and Malaysia condemned China for expanding its claim in the South China Sea, where trillions of dollars’ worth of trade passes each year, through the new map. The United States has been conducting freedom of navigation air and sea patrols in the SCS to ensure the safe passage of commercial vessels in international waters, including those near the Taiwan Strait. [gallery size="full" ids="179082,179080,179077"] Claimants The Philippines, China, Brunei, Malaysia, Vietnam and Taiwan have separate claims in the South China Sea where China’s forces have been aggressively driving away other claimants. Months back, a China Coast Guard vessel used water cannon on Philippine Coast Guard-led ships resupplying the BRP Sierra Madre, a World War 2-era ship that ran aground in the Ayungin Shoal to serve as a permanent outpost for Filipino troops. Earlier, National Security Adviser Eduardo Año reiterated that the Philippine government does not recognize the 10-dash line or the nine-dash line claims of China. The new Chinese map showed 10 dashes forming the letter U showing nearly the entire South China Sea as a territory of China. Año stressed that the 2016 arbitral award was already final in debunking Beijing’s nine-dash line assertion. The ruling also gave the Philippines “maritime entitlement” extending its economic zone, territorial waters, and continental shelf. UNCLOS “The recent inclusion by China of its 10-dash line in their map is a gross violation of the territorial integrity of the Philippines as protected by the United Nations Convention on the Laws of the Sea,” Villarin said. “It’s an affront to the Philippine Constitution that safeguards the territorial integrity of our country. It is also a direct threat to the peace and security of the Asia-Pacific Region,” he added. Villarin stressed that nearly all of the countries in the region would be affected by China’s claim, especially if it tries to enforce its “invention.” He recounted that in the 470-plus decisions made by the arbitral court, all of China’s claims were dismissed for having no legal or historical legs to stand on. The post ‘Velarde map trumps China’s fabrication’ appeared first on Daily Tribune......»»
Analysts predict inflation rate at around 5.0% for August
The country's inflation rate will remain above the government's 2 to 4 percent target band, said private sector economists who slightly upgraded their price-rise forecasts for August. A DAILY TRIBUNE poll of analysts over the weekend yielded a median estimate of 5.0 percent for August inflation, within the 4.8 to 5.6 percent forecast given by the Bangko Sentral ng Pilipinas (BSP) last Thursday. If the August number matches the poll consensus, the median estimate will be higher than the 4.6 percent print in July 2023 but lower than the 5.4 percent inflation rate in June 2023. The Philippine Statistics Authority is expected to release the August inflation data on Tuesday, 5 September. Bank of the Philippine Islands's lead economist Emilio "Jun" Neri Jr. said higher prices of liquefied petroleum gas (LPG), kerosene, diesel and vegetables likely drove the Consumer Price Index much higher month-on-month. "Lower electricity (and) other food items may offset some of this," Neri said in an email to Daily Tribune. Rizal Commercial Banking Corp. chief economist Michael Ricafort said that the country's higher local palay and rice prices are one of the "main catalysts" for the August inflation print due to weather disturbances in most Southeast Asian countries affecting rice exports. He added that the agriculture damages caused by tropical storms in Northern and Central Luzon likewise affected the prices in the country. Ricafort likewise attributed the higher fuel prices and depreciating Philippine Peso against the US Dollar to the slightly higher inflation rate for August. "However, these are offset by mostly softer economic data in China and other countries, as partly weighed by higher inflation that reduced household spending and higher interest rates that led to higher borrowing costs," Ricafort said in a Viber message. Security Bank's senior assistant vice president and chief economist Robert Dan Roces also shared the same insights with other economists, saying that the primary factors contributing to the slight increase in the August inflation print are fuel and food prices. "Although the current diesel pump price is significantly lower than the P75 per liter average recorded in June of the previous year, food and fuel prices remain the main drivers of inflation. Notably, farm gate prices of other food items decreased in August compared to July," Roces said in an email. Despite these factors, Roces said the retailers may either be reluctant to reduce current prices or the price reduction price may be taking some time. Roces also underscored that the current inflation increase is mainly driven by the price of rice, which has recently surged by up to P10 per kilo. "Looking ahead, we still see that inflation will fall into the Bangko Sentral ng Pilipinas (BSP) target range of 2 percent to 4 percent by the fourth quarter of this year, barring sustained spikes in rice and fuel in the remaining months of 2023," Roces said. China Banking Corp. chief economist Domini Velasquez said core inflation is expected to continue its downtrend to around 6.0 percent in August despite the projected higher headline rate. "If realized, we do not expect BSP to react immediately to the expected inflation print with higher policy rates. Shocks for August were largely supply-side but have not, so far, detailed the inflation path toward the target range in (the fourth quarter). We still expect inflation to fall within the BSP's target by November," Velasquez said. The post Analysts predict inflation rate at around 5.0% for August appeared first on Daily Tribune......»»
Unite for peace
Russia’s invasion of Ukraine is a reminder of how autocracies care little about causing death and destruction. The war is a gross violation of human rights and the principle of peaceful settlement of international disputes as codified in the United Nations Charter, which has helped maintain the rules-based international order and kept the world in relative peace since the end of the Cold War. [caption id="attachment_178304" align="aligncenter" width="1101"] Dr. Wu, Minister of Foreign Affairs, Republic of China (Taiwan) | illustration by Glen Tolo for the Daily Tribune[/caption] The war’s humanitarian and economic fallout has also shown that, in a globalized world, crises cannot be contained within national borders. It is, therefore, imperative to deter similar threats to global security from happening elsewhere. Taiwan—a democracy that is home to over 23 million people and that I proudly represent—continues to confront enormous challenges posed by China. Since the mid-20th century, the People’s Republic of China has vowed to take control of Taiwan and refused to renounce the use of force, despite never having ruled Taiwan. For decades, the people of Taiwan have remained calm in safeguarding the status quo of peace and stability across the Taiwan Strait. However, as China’s economic and military might has grown stronger, it becomes increasingly aggressive in flexing its military muscle to intimidate Taiwan, thereby threatening our democratic way of life. This includes sending warplanes and ships across the median line of the Taiwan Strait and encroaching into our air defense identification zones. It has also intensified gray-zone tactics, such as disinformation and economic coercion, in an attempt to wear down our will to fight. The PRC’s expansionism does not stop at Taiwan. China’s use of gray-zone activities in the East and South China Seas are designed to expand its power and substantiate its hawkish territorial claims. In addition to signing a security agreement with Solomon Islands in the South Pacific, the PRC has been securing ports for future military use in the Indian Ocean. All of these maneuvers are causing grave concerns that peace is becoming more difficult to maintain. Ensuring peace and stability in the Taiwan Strait is in everyone’s best interest. Half of the world’s commercial container traffic passes through the Taiwan Strait each day. Taiwan produces the majority of the world’s semiconductors and plays a key role in global supply chains. Any conflict in the area would have disastrous consequences for the global economy. In recent years, bilateral and multilateral forums have repeatedly emphasized that the peace and stability over the Taiwan Strait is indispensable to global security. While we can all agree that the war must be avoided, how to best do so requires inclusion, dialogue and, most of all, unity. The United Nations remains the best platform for global discourse. UN officials speak often of joint solutions, solidarity, and inclusion in tackling the pressing issues of our time. Taiwan is more than willing and able to take part in these efforts. However, Taiwan continues to be excluded from the UN due to China’s distortion of UN General Assembly Resolution 2758. This resolution neither states that Taiwan is a part of the PRC nor gives the PRC the right to represent the people of Taiwan in the UN and its specialized agencies. In fact, the resolution only determines who represents the member-state China, a fact that the international community and China itself recognized following the relevant vote in 1971. The subsequent misrepresentation of Resolution 2758 contradicts the basic principles upheld by the UN Charter and must be rectified. The 78th session of the UN General Assembly, which will center on the theme “rebuilding trust and reigniting global solidarity,” is timely in light of a number of broad global challenges. For example, the UN’s Sustainable Development Goals were designed as a shared blueprint for peace and prosperity. Yet the most recent SDG progress report showed that just 12 percent of SDG targets were on track, while progress on 50 percent has remained insufficient. And on more than 30 percent, we have stalled or even regressed. While there are no easy answers, the first step is dialogue. As a truly global institution, the UN can serve as a champion of progress. We call on the UN to uphold its principle of leaving no one behind by allowing Taiwan to participate in the UN system, rather than excluding it from discussions on issues requiring global cooperation. A good first step would be to allow Taiwanese individuals and journalists to attend or cover relevant meetings, as well as ensure Taiwan’s meaningful participation in meetings and mechanisms regarding the SDGs. Ukraine’s incredible bravery and resilience have inspired countries around the globe. The war there has forged a new sense of togetherness in the world. Unity is crucial to pushing back against Russia’s aggression and to preserving universal values, such as human rights and global peace, more broadly. It is vital to make China and other authoritarian governments aware that they will be held accountable and to urge them to settle differences through peaceful means. Allowing Taiwan to meaningfully participate in the UN system would benefit the world’s efforts to address pressing global issues. This would also demonstrate the UN’s determination to unite for global peace at a critical juncture when the future of the world is at stake. We are stronger together. Now is the time to act on this fundamental principle by including Taiwan. The post Unite for peace appeared first on Daily Tribune......»»
Unite for Peace in the World and Taiwan’s Inclusion in the UN
Russia’s invasion of Ukraine is a reminder of how autocracies care little about causing death and destruction. The war is a gross violation of human rights and the principle of peaceful settlement of international disputes as codified in the United Nations Charter, which has helped maintain the rules-based international order and kept the world in relative peace since the end of the Cold War. The war’s humanitarian and economic fallout has also shown that in a globalized world crises cannot be contained within national borders. It is therefore imperative to deter similar threats to global security from happening elsewhere. Taiwan—a democracy that is home to over 23 million people and that I proudly represent—continues to confront enormous challenges posed by China. Since the mid-20th century, the People’s Republic of China has vowed to take control of Taiwan and refused to renounce the use of force, despite never having ruled Taiwan. For decades, the people of Taiwan have remained calm in safeguarding the status quo of peace and stability across the Taiwan Strait. However, as China’s economic and military might has grown stronger, it has become increasingly aggressive in flexing its military muscle to intimidate Taiwan, thereby threatening our democratic way of life. This includes sending warplanes and ships across the median line of the Taiwan Strait and encroaching into our air defense identification zones. It has also intensified gray-zone tactics, such as disinformation and economic coercion, in an attempt to wear down our will to fight. The PRC’s expansionism does not stop at Taiwan. China’s use of gray-zone activities in the East and South China Seas are designed to expand its power and substantiate its hawkish territorial claims. In addition to signing a security agreement with Solomon Islands in the South Pacific, the PRC has been securing ports for future military use in the Indian Ocean. All of these maneuvers are causing grave concerns that peace is becoming more difficult to maintain. Ensuring peace and stability in the Taiwan Strait is in everyone’s best interest. Half of the world’s commercial container traffic passes through the Taiwan Strait each day. Taiwan produces the majority of the world’s semiconductors and plays a key role in global supply chains. Any conflict in the area would have disastrous consequences for the global economy. In recent years, bilateral and multilateral forums have repeatedly emphasized that peace and stability over the Taiwan Strait are indispensable to global security. While we can all agree that the war must be avoided, how to best do so requires inclusion, dialogue, and, most of all, unity. The United Nations remains the best platform for global discourse. UN officials speak often of joint solutions, solidarity, and inclusion in tackling the pressing issues of our time. Taiwan is more than willing and able to take part in these efforts. However, Taiwan continues to be excluded from the UN due to China’s distortion of UN General Assembly Resolution 2758. This resolution neither states that Taiwan is a part of the PRC nor gives the PRC the right to represent the people of Taiwan in the UN and its specialized agencies. In fact, the resolution only determines who represents the member state China, a fact that the international community and China itself recognized following the relevant vote in 1971. The subsequent misrepresentation of Resolution 2758 contradicts the basic principles upheld by the UN Charter and must be rectified. The 78th session of the UN General Assembly, which will center on the theme “rebuilding trust and reigniting global solidarity,” is timely in light of a number of broad global challenges. For example, the UN’s Sustainable Development Goals were designed as a shared blueprint for peace and prosperity. Yet the most recent SDG progress report showed that just 12 percent of SDG targets were on track, while progress on 50 percent has remained insufficient. And on more than 30 percent, we have stalled or even regressed. While there are no easy answers, the first step is dialogue. As a truly global institution, the UN can serve as a champion of progress. We call on the UN to uphold its principle of leaving no one behind by allowing Taiwan to participate in the UN system, rather than excluding it from discussions on issues requiring global cooperation. A good first step would be to allow Taiwanese individuals and journalists to attend or cover relevant meetings, as well as ensure Taiwan’s meaningful participation in meetings and mechanisms regarding the SDGs. Ukraine’s incredible bravery and resilience have inspired countries around the globe. The war there has forged a new sense of togetherness in the world. Unity is crucial to pushing back against Russia’s aggression and to preserving universal values, such as human rights and global peace, more broadly. It is vital to make China and other authoritarian governments aware that they will be held accountable and to urge them to settle differences through peaceful means. Allowing Taiwan to meaningfully participate in the UN system would benefit the world’s efforts to address pressing global issues. This would also demonstrate the UN’s determination to unite for global peace at a critical juncture when the future of the world is at stake. We are stronger together. Now is the time to act on this fundamental principle by including Taiwan. The post Unite for Peace in the World and Taiwan’s Inclusion in the UN appeared first on Daily Tribune......»»
China, U.S. form trade dispute panel
United States Commerce Secretary Gina Raimondo on Tuesday reassured Chinese officials in Beijing that her country is not seeking to decouple its economy from China’s. “We seek to maintain our $700 billion commercial relationship with China, and we hope that that relationship can provide stability for the overall relationship,” Raimondo told Premier Li Qiang. Raimondo also told Li that Washington wants to “work with you as two global powers to do what is right for all of humanity.” Earlier on Tuesday, Raimondo met China’s Vice Premier He Lifeng. “Managing that relationship responsibly is critical to both of our nations and indeed to the whole world,” she said during a part of the meeting open to journalists. She stressed the US would “never compromise in protecting our national security,” but added that Washington did not seek “to hold China’s economy back.” The secretary’s meeting with her Chinese counterpart on Monday resulted in a deal to set up a working group to iron out trade disputes of their countries. China commerce minister Wang Wentao and Raimondo also agreed to set up an “export control enforcement information exchange” — described as a platform to “reduce misunderstanding of US national security policies.” The information exchange will convene for the first time at Beijing’s Ministry of Commerce on Tuesday, Washington said. The developments met Washington’s goal of ensuring open communication lines with Beijing. However, China’s “serious concerns” over US trade curbs on Chinese businesses remain. Beijing is referring to the “US Section 301 tariffs on Chinese goods, its semiconductor policies, restrictions of two-way investment, discriminatory subsidies, and sanctions on Chinese enterprises.” Washington defends the policies as necessary to “de-risk” its supply chains. But Wang warned they “run counter to market rules and the principle of fair competition, and will only harm the security and stability of the global industrial and supply chains.” Healthy competition Raimondo is one of a number of senior US officials to visit China in recent months — part of an effort by Washington to improve its working relationship with its largest strategic rival. Relations between the two countries have plummeted to some of their lowest levels in decades, with US trade curbs near the top of the list of disagreements. This month, Biden issued an executive order aimed at restricting certain US investments in sensitive high-tech areas in China — a move Beijing blasted as being “anti-globalization.” The long-anticipated rules, expected to be implemented next year, target sectors such as semiconductors and artificial intelligence. US Treasury Secretary Janet Yellen sought to reassure Chinese officials about the expected curbs during a visit to Beijing last month. And Raimondo on Monday told Chinese officials that while there was “no room to compromise or negotiate” on US national security, “the vast majority of our trade and investment relationship does not involve national security concerns.” “We seek healthy competition with China. A growing Chinese economy that plays by the rules is in both of our interests,” she said. WITH AFP The post China, U.S. form trade dispute panel appeared first on Daily Tribune......»»
N. Korea reopens its borders to citizens living abroad: KCNA
North Korea has moved to further open up from strict pandemic-era isolation, with state media reporting Sunday that citizens living abroad have been allowed to reenter the country. State-run KCNA said that the State Emergency Epidemic Prevention Headquarters had announced that "citizens abroad have been allowed to return home". "Those returned will be put under proper medical observation at quarantine wards for a week," the report said. It added that the decision had been made "in reference to the eased worldwide pandemic situation." North Korea shut its borders in early 2020 in response to the coronavirus pandemic, but there have been increasing signals the country has moved towards reopening. Chinese and Russian officials attended a military parade in Pyongyang last month -- the first foreign dignitaries to visit the country in years. Last week a delegation of athletes was allowed to attend a taekwondo competition in Kazakhstan, while state-run Air Koryo made its first international commercial flight in three years. The flight arrived Tuesday morning at Beijing's Capital Airport, with AFP reporters only seeing two North Koreans -- recognizable by their distinctive badges bearing the faces of former leaders Kim Il Sung and Kim Jong Il -- come through the arrival gate. Neither spoke to media. Another Air Koryo flight bound for Pyongyang departed just after 1:00 p.m., a tracking website showed. The Seoul-based Yonhap News Agency published photos of a number of North Koreans lining up to check luggage for that flight. Asked about the flights, China's foreign ministry said that it had approved restarting commercial air travel between Beijing and Pyongyang. "During the summer and autumn flight season... the Chinese side approved flight plans for passengers such as the Pyongyang-Beijing and Beijing-Pyongyang routes of Air Koryo," foreign ministry spokesperson Wang Wenbin told a regular briefing on Monday. des/nro © Agence France-Presse The post N. Korea reopens its borders to citizens living abroad: KCNA appeared first on Daily Tribune......»»