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Global box-office hit na ‘YOLO’, masisilayan na rin sa Pilipinas sa Abril
BREAKING the limits. Rising from the ashes. A fiery soul. Ganyan mailalarawan ang bagong pelikula na malapit nang dumating dito sa ating bansa. Ito ang “YOLO,” isang inspirational comedy drama film ng bansang China na nakatakdang ipalabas sa mga lokal na sinehan sa darating na April 17. Ang Chinese comedienne na si Jia Ling ang.....»»
China’s Wang Yi tells Blinken US should lift sanctions on Chinese firms
The Biden administration has imposed bans on the sale of certain technologies to Chinese companies, citing national security risks.....»»
Record-breaking balloon dragon in Hong Kong on display for Chinese New Year 2024
A balloon dragon in Hong Kong recently broke the Guinness World Record for the "Largest Balloon Sculpture of a Dragon," just in time for the Lunar New Year celebrations......»»
Failure of Manila s anti-China bloc in S. China Sea is determined
Philippine President Ferdinand Marcos Jr.'s file photo. /XinhuaEditor's note: CGTN's First Voice provides instant commentary on breaking stories. The column clarifies emerging issues and better defines the news agenda, offering a Chinese perspective on the latest global events. The Philippines and Vietnam on Tuesday signed two memorandums of understanding (MOUs) on ma.....»»
The Philippines should prioritize its people over the U.S.
Ren'ai Jiao. /XinhuaEditor's note: CGTN's First Voice provides instant commentary on breaking stories. The column clarifies emerging issues and better defines the news agenda, offering a Chinese perspective on the latest global events. The Philippine government is considering building a permanent civilian structure such as a lighthouse or a marine science research cen.....»»
The Philippines should prioritize its people over the U.S.
Ren'ai Jiao. /XinhuaEditor's note: CGTN's First Voice provides instant commentary on breaking stories. The column clarifies emerging issues and better defines the news agenda, offering a Chinese perspective on the latest global events. The Philippine government is considering building a permanent civilian structure such as a lighthouse or a marine science research cen.....»»
Yuan outpacing euro - Reuters
Low interest rates have sparked a global rush to borrow in China, the outlet has said Global companies are reaping record profits through yuan-denominated bonds and are borrowing heavily from Chinese lenders at low interest rates, at a time when the cost of using Western banks is skyrocketing, Reuters reported on Frid.....»»
Yuan outpacing euro as major trade-funding currency - Reuters
Low interest rates have sparked a global rush to borrow in China, the outlet has said Global companies are reaping record profits through yuan-denominated bonds and are borrowing heavily from Chinese lenders at low interest rates, at a time when the cost of using Western banks is skyrocketing, Reuters reported on Frid.....»»
Digital, food, green energy
I was in Singapore for the Singapore Fintech Festival, Nov. 14-17, 2023. Just like my recent visit to the headquarters of a couple of Chinese tech companies in Shenzhen, China, one hour by bus from Hong Kong, I was disappointed after spending two days at the Singapore Fintech......»»
BoC, PCG stop robbery of seized fake products
Elements of combined operatives of the Bureau of Customs and Philippine Coast Guard stopped the theft of Customs-seized goods in a warehouse in Pasay City on Thursday night, resulting in the arrest of 67 Filipinos and 10 Chinese nationals. According to the BoC, the warehouse was previously sealed and padlocked during an operation against intellectual property rights infringing goods, specifically clothing apparel, footwear, and bags. BOC-Customs Intelligence and Investigation Service Director Verne Enciso said the operation was augmented by the CIIS-Manila International Container Port. “We received information from a well-placed asset that there was an ongoing theft in a Pasay warehouse we have previously sealed and padlocked. This warehouse had been subjected previously to a Letter of Authority,” he furthered. Upon receiving information, a team from the BOC’s Intellectual Property Rights Division immediately proceeded to 112 M. Acosta St., Barangay 77, Pasay City to interdict the illegal activities. During the operation, more or less 67 Filipinos and 10 Chinese nationals were caught breaking the BOC seal and were seen carrying the forfeited illicit goods from the upper floors down to the ground floor. A close truck van (L300) with plate number TNP 882 was also spotted being loaded with the forfeited goods. Deputy Commissioner for Intelligence Juvymax Uy assured that all forfeited items were accounted for through a verification conducted on the spot. “The success of each operation, including seeing them through the legal proceedings, is crucial to the health of the Philippine industry. These operations show the seriousness of our work and send the right message to businesses that want to invest here,” he said. “It is not lost on us that what we do here has a direct impact on local businesses, local employment, and the attractiveness of the Philippines as an investment destination,” Uy added. The post BoC, PCG stop robbery of seized fake products appeared first on Daily Tribune......»»
‘Time to explore ODAs from other countries’ Poe says after Chinese ODA withdrawal
Senator Grace Poe on Thursday expressed her belief that it is high time for the Philippines to look for alternative sources of funding from other countries for the proposed Mindanao Railway Project. According to Poe, who chairs the Senate Committee on Public Services, the country may pursue official development assistance from other countries following the Department of Transportation's move to drop China as a funding source for the P83-billion railway project in the southern Philippines. “It’s time to explore ODAs from other countries and seek available funding options from multilateral institutions and international assistance agencies that can deliver the goods,” she said in a statement. Poe noted that the withdrawal of the ODA from China for a railway project “should not derail the implementation of our infrastructure programs,” “In the past years, Chinese banks have also kept us in suspended animation with delays in our loan applications putting in limbo a number of government projects,” she said. “While appearing attractive, the loans are not exactly that benevolent as they come with hefty interest rates and other strings that could be detrimental to the country in the long term,” she added. She also suggested to the government to tap the private sector which she said “holds the potential of accelerating infrastructure development and bringing innovative and efficient services.” She issued the statement after Transportation Secretary Jaime Bautista confirmed that the Philippines is no longer loan financing from China for the first phase of the Mindanao Railway Project. The first phase of the railway project aims to reduce travel time between Tagum in Davao del Norte and Digos in Davao del Sur by one hour from the current 3.5 hours. Quoting Bautista, Senate President Juan Miguel “Migz” Zubiri said in August that the Philippine government would no longer engage Chinese state-owned companies for major infrastructure projects in the country. “I talked to Secretary Jimmy Bautista, he was at the Senate recently. We talked one-on-one. I told him: ‘Secretary, you are seeing what they are doing to your Coast Guard, right?’” he said “I told him not to give Chinese state-owned companies projects here in the Philippines such as trains. We have the North to South Railways…. Let us not give it to them. Let us give it to South Morea or Japan instead,” he added. He continued: “I was glad because Secretary Bautista said they would no longer Chinese state-owned companies for their trains, airports, and big-ticket items.” The construction of the Tagum-Davao-Digos segment of the Mindanao Railway Project was supposed to start in January 2019. The post ‘Time to explore ODAs from other countries’ Poe says after Chinese ODA withdrawal appeared first on Daily Tribune......»»
Chinese firms eye $4 billion energy investments
Two Chinese companies are looking to invest around $4 billion for the manufacturing of wind energy equipment, the head of the Board of Investments said......»»
Lenovo treats Phl as top Southeast Asian market
Even if neighboring countries in the Southeast Asian region are advantageous in terms of being technology savvy, the Philippines remains an integral market according to an official of Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services. “We see strong demand for the Philippines, the only question is how the consumers get the technology. The pandemic has even made the demand for the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling. Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” according to Giancarlo Nogales from the Infrastructure Solutions Services Sales of Lenovo Philippines at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge tech tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of today’s remote and hybrid workforces but also to address significant challenges faced by businesses as they digitize operations across departments. “Lenovo research shows that managing a remote workforce and global teams remain central tasks for CIOs.1. That is why the new offerings integrate impressive processing power, immersive 3D, and advanced security to create a unified, human-centered experience,” the company said. Further, Nogales added that sales for Lenovo in the Philippines will continue to soar as the country has a bigger population which connotes demand compared to other nations in SE Asia. What Lenovo can count on with the Philippines is the demand for laptops and tablets that are now being used by students, educators, workers, and even the government. “Actually, we have an ongoing engagement with the government sector. I was at an event with the DICT (Department of Information and Communications) and we had discussions with the Department of Education as well, but we still understand what they are looking for. Of course, with DepEd, it’s a big agency, and what I can say is we are working with them across whatever we can offer—cloud technologies, among others,” he told the DAILY TRIBUNE. Nogales said he sees an ongoing digital transformation within organizations and will continue over the coming years. Digital transformation is an ongoing journey Meanwhile, VST ECS president and CEO Jimmy Go stressed that in the ever-evolving world of technology, organizations are charting a course - through a landscape that has seen profound advancement in recent years. “It's important to understand that digital transformation is not a one-time event but an ongoing journey. Every day, we bear witness to the unveiling of new digital technologies. In this dynamic environment, the lines between the physical and digital worlds are blurring, creating a phenomenon known as phygital convergence," he said. He said organizations nowadays stand at the threshold of a remarkable technological revolution. “Generative AI is the talk of the town with Chat GPT and other AI, offering organizations the power to intelligently automate customer experiences and streamline internal operations. The implications of this technology are far-reaching. Microsoft is launching CoPilot and most software applications are incorporating AI in their applications. Gartner predicts that by 2030, a staggering 80 percent of people will interact with smart robots daily, and in just two years, these smart robots will become workforce partners for 90 percent of global companies,” he said. Further, Go stressed that AI and machine learning, once a novel concept, have become integral to the products and services offered by major companies. “A mere decade ago, we were learning to communicate with machines. Today, machines understand and adapt to our language, erasing the boundaries between humans and technology. While AI is currently the headline in the tech world, we must not lose sight of the critical need to modernize our IT infrastructure,” he stated. For organizations to embrace technology, he said it’s a pivotal step in allowing organizations to embrace the latest technology trends, including Multi Clouds, Quantum computing, Data explosion, RPA, Generative AI, and more. “Investments in Connectivity solutions, Digital Infrastructure, Cloud technologies, Cybersecurity, Big data, Storage, Automation, and Collaboration tools remain vital to prepare for the ever-evolving Tech landscape. In the Israel-Hamas and Ukraine-Russia wars, Technology plays a very important and critical role in their war strategies. Computers, AI, Starlink, and drones are heavily used in their strategies,” he said. The post Lenovo treats Phl as top Southeast Asian market appeared first on Daily Tribune......»»
Chinese firms eye opportunities in Philippines
Chinese firms continue to look at the country’s investment potential as companies from Jiangsu province recently expressed optimism for business opportunities in the country, according to the Board of Investments......»»
China opposes sanctions over fentanyl crisis
Beijing said on Wednesday it firmly opposed sanctions placed by the United States on a China-based network for producing and distributing chemicals believed to fuel the fentanyl crisis. The US administration of President Joe Biden had on Tuesday announced sanctions against 25 individuals and entities based in China, alongside three other parties in Canada. The US Justice Department also announced eight indictments charging China-based chemical manufacturing firms and staff, with Attorney General Merrick Garland saying that the global supply chain of fentanyl “often starts with chemical companies in China.” “We firmly oppose the United States’ sanction and prosecution against Chinese entities and individuals, and the severe infringement of the lawful rights and interests of the relevant enterprises and persons,” Beijing’s foreign ministry told Agence France-Presse. “The fentanyl crisis in the United States is rooted in the country itself,” it said, adding that Beijing has “lodged solemn representations to the United States.” Biden’s administration has made the fight against fentanyl a priority, with the synthetic opioid blamed for tens of thousands of deaths in recent years. “We know that this global fentanyl supply chain, which ends with the deaths of Americans, often starts with chemical companies in China,” Attorney General Merrick Garland told a press briefing. He said it was “critical” that Beijing stops the “unchecked flow” of precursor chemicals coming from the country, adding that US officials will also raise the manufacturing and trafficking of fentanyl with their Mexican counterparts. Tuesday’s actions are aimed at exposing and disrupting a network “responsible for manufacturing and distributing illicit drugs,” said Deputy Treasury Secretary Wally Adeyemo said. The post China opposes sanctions over fentanyl crisis appeared first on Daily Tribune......»»
US sanctions China-based drug network over fentanyl
The United States announced sanctions Tuesday on a China-based network for producing and distributing chemicals used to make drugs including those fueling a deadly national fentanyl crisis. President Joe Biden's administration has made the fight against fentanyl a priority, with the synthetic opioid blamed for tens of thousands of deaths in recent years. The sanctions targets include 25 individuals and entities based in China, alongside three other parties in Canada, the Treasury Department said in a statement. In a separate notice, the Justice Department announced eight indictments charging China-based chemical manufacturing firms and staff with crimes related to drug production and distribution. "We know that this global fentanyl supply chain, which ends with the deaths of Americans, often starts with chemical companies in China," Attorney General Merrick Garland told a press briefing. He said it was "critical" that Beijing stops the "unchecked flow" of precursor chemicals coming from the country, adding that US officials will also raise the manufacturing and trafficking of fentanyl with their Mexican counterparts. Tuesday's actions are aimed at exposing and disrupting a network "responsible for manufacturing and distributing illicit drugs," said Deputy Treasury Secretary Wally Adeyemo. The China-based network is "responsible for the manufacturing and distribution of ton quantities of fentanyl, methamphetamine, and MDMA precursors," according to the Treasury. The parties designated are also allegedly involved in trafficking xylazine -- a veterinary sedative known as "tranq" -- and nitazenes, which are often mixed with fentanyl or other drugs, posing a higher risk of a fatal overdose. Via Mexico cartels US authorities have noted that fentanyl is often coming from Mexican drug cartels that use precursor chemicals from China. The Biden administration has imposed sanctions on cartels, although some politicians call for tougher actions. Among the individuals designated on Tuesday are Wang Shucheng and Du Changgen -- members of a Chinese "syndicate" -- as well as their affiliates. Wang was said to have directed others to establish companies used as cover to move pharmaceutical goods globally, while Du maintains the most influence over the organization, Treasury said. The network is the "source of supply" for many US-based narcotics traffickers, dark web vendors, virtual currency money launderers and Mexico-based criminal organizations, Treasury added. "Du Changgen and persons operating under him have been responsible for approximately 900 kilograms of seized fentanyl and methamphetamine precursors shipped to the United States and Mexico," the department said. Companies Du owns have also been designated. Hanhong Pharmaceutical Technology Co, found to be linked to several members of the network, was targeted -- alongside three representatives who were involved in its sale of fentanyl precursors and protonitazene. Among others impacted were punch and die manufacturer Jinhu Minsheng Pharmaceutical Machinery and its part-owner, as well as other illicit drug distributors. The United States has also blocked over a dozen virtual currency wallets. The sanctions effectively stop those named from using the US financial system, and US citizens are barred from transacting with them. The post US sanctions China-based drug network over fentanyl appeared first on Daily Tribune......»»
US slaps TV provider with first-ever space debris fine
US authorities said they have issued a "breakthrough" first-ever fine over space debris, slapping a $150,000 penalty on a TV company that failed to properly dispose of a satellite. On Monday the Federal Communications Commission (FCC) came down on Dish for "failure to properly deorbit" a satellite called EchoStar-7, in orbit since 2002. "This marks a first in space debris enforcement by the Commission, which has stepped up its satellite policy efforts," the FCC, which authorizes space-based telecom services, said in a statement. As the geostationary satellite came to the end of its operational life, Dish had moved it to an altitude lower than the two parties had agreed on, where it "could pose orbital debris concerns," the FCC said. The commission said Dish, a US satellite television provider, pledged in 2012 to elevate the satellite to 300 kilometers (190 miles) above its operational arc. But with fuel running low, it retired the satellite at an altitude just over 120 kilometers above the original arc. "As satellite operations become more prevalent and the space economy accelerates, we must be certain that operators comply with their commitments," said FCC enforcement bureau chief Loyaan Egal. "This is a breakthrough settlement, making very clear the FCC has strong enforcement authority and capability to enforce its vitally important space debris rules." The FCC said the settlement "includes an admission of liability from the company and an agreement to adhere to a compliance plan and pay a penalty of $150,000." In a statement Tuesday, Dish appeared to counter the FCC over disposal requirements, and argued that the commission's enforcement arm made "no specific findings that EchoStar-7 poses any orbital debris safety concerns." "As the Enforcement Bureau recognizes in the settlement, the EchoStar-7 satellite was an older spacecraft that had been explicitly exempted from the FCC's rule requiring a minimum disposal orbit," a Dish spokesperson said in a statement. "DISH has a long track record of safely flying a large satellite fleet and takes seriously its responsibilities as an FCC licensee." Collision risks The US aviation regulator, FAA, recently announced its intention to reduce space debris by requiring private companies to dispose of the upper stages of rocket launch vehicles by, for example, returning them to the Earth's atmosphere or moving them to a less congested "graveyard orbit." The new regulation, which has yet to be definitively adopted, already exists for government space missions. "If left unchecked, the accumulation of orbital debris will increase the risk of collisions and clutter orbits used for human spaceflight and for satellites," the Federal Aviation Administration said. The European Space Agency estimates that around one million pieces of debris larger than a centimeter -- big enough to "disable a spacecraft" -- are in Earth's orbit. They are already causing problems, from a near-miss in January last year involving a Chinese satellite, to a five-millimetre hole knocked into a robotic arm on the International Space Station in 2021. With satellites now crucial for GPS, broadband and banking data, collisions pose significant risks on Earth. The post US slaps TV provider with first-ever space debris fine appeared first on Daily Tribune......»»
Indonesia launches Southeast Asia’s first high-speed rail
Indonesia launched Southeast Asia's first high-speed railway on Monday, a delayed, multibillion-dollar project backed by China that President Joko Widodo hailed as "a symbol of our modernization". With a top speed of 350 kilometers (220 miles) per hour, the bullet train "Whoosh" can get between the capital Jakarta and Bandung in 45 minutes. The 140 km journey would previously have taken about three hours by train. "The Jakarta-Bandung high-speed train marks our efficient, friendly, and integrated mass transportation system," Widodo said during a ceremony at the capital's central station. "It is a symbol of our modernization in the public transport, seamlessly connecting with other modes of transportation." Widodo said the 600-capacity train was the first high-speed rail transportation in Southeast Asia. It is part of Beijing's Belt and Road initiative -- a decade-old program of China-backed infrastructure projects. The president said the name was actually an acronym, standing for a tagline of "Waktu Hemat, Operasi Optimal, Sistem Handal" -- which in Bahasa Indonesia means "Saving time, optimal operation, reliable system". It was built by PT KCIC, which is made up of four Indonesian state companies and Beijing's China Railway International Co. The project was initially set to cost less than $5 billion and be completed by 2019. However, delays caused by construction challenges and the Covid-19 pandemic led to a surge in costs. In preparation for its opening, officials have conducted public trials for the new high-speed route. Last week, Transportation Minister Budi Karya Sumadi confirmed that the government would extend the high-speed train route from Bandung to the country's second-biggest city Surabaya. Last month, Chinese Premier Li Qiang joined Senior Minister Luhut Pandjaitan on a ride aboard the train during his Jakarta visit for summits with Southeast Asian leaders. Pandjaitan told reporters on Thursday that Widodo plans to welcome Chinese President Xi Jinping in the future to ride the train, but did not give more specifics. agn/ebe/sn/leg © Agence France-Presse The post Indonesia launches Southeast Asia’s first high-speed rail appeared first on Daily Tribune......»»
Global governance is stuck in time
We confront a host of existential threats — from the climate crisis to disruptive technologies — and we do so at a time of chaotic transition. For much of the Cold War, international relations were largely seen through the prism of two superpowers. Then came a short period of unipolarity. Now we are rapidly moving toward a multipolar world. This is, in many ways, positive. It brings new opportunities for justice and balance in international relations. But multipolarity alone cannot guarantee peace. At the beginning of the 20th century, Europe had numerous powers. It was truly multipolar. But it lacked robust multilateral institutions and the result was World War I. A multipolar world needs strong and effective multilateral institutions. Yet global governance is stuck in time. Look no further than the United Nations Security Council and the Bretton Woods system. They reflect the political and economic realities of 1945, when many countries were still under colonial domination. The world has changed. Our institutions have not. We cannot effectively address problems as they are if institutions do not reflect the world as it is. Instead of solving problems, they risk becoming part of the problem. And, indeed, divides are deepening. Divides among economic and military powers. Divides between North and South, East and West. We are inching ever closer to a Great Fracture in economic and financial systems and trade relations; one that threatens a single, open Internet; with diverging strategies on technology and artificial intelligence; and potentially clashing security frameworks. It is high time to renew multilateral institutions based on 21st century economic and political realities — rooted in equity, solidarity and universality and anchored in the principles of the United Nations Charter and international law. That means reforming the Security Council in line with the world of today. It means redesigning the international financial architecture so that it becomes truly universal and serves as a global safety net for developing countries in trouble. At the same time, divides are also widening within countries. Democracy is under threat. Authoritarianism is on the march. Inequalities are growing. And hate speech is on the rise. In the face of all these challenges and more, compromise has become a dirty word. We have just survived the hottest days, the hottest months, and the hottest summer on the books. Behind every broken record are broken economies, broken lives and whole nations at the breaking point. Actions are falling abysmally short. There is still time to keep rising temperatures within the 1.5-degree limits of the Paris [Climate] Agreement. But that requires drastic steps now — to cut greenhouse gas emissions, and to ensure climate justice for those who did least to cause the crisis but are paying the highest price. The fossil fuel age has failed. If fossil fuel companies want to be part of the solution, they must lead the transition to renewable energy. No more dirty production. No more fake solutions. No more bankrolling climate denial. Climate chaos is breaking new records, but we cannot afford the same old broken record of scapegoating and waiting for others to move first. And to all those working, marching and championing real climate action, I want you to know that you are on the right side of history and that I am with you. I won’t give up this fight of our lives. *** Excerpts from the UN Secretary-General’s address to the General Assembly, 19 September 2023. The post Global governance is stuck in time appeared first on Daily Tribune......»»
Sub bolsters Taiwan defense vs China
Taiwan unveiled its first domestically built submarine on Thursday to bolster the island’s defenses against China. President Tsai Ing-wen presided over the launch ceremony for the Hai Kun or “Narwhal” in English at CSBC Corporation's Kaohsiung shipyard, according to Taiwan News. Tsai performed the bottle-breaking ritual and named the submarine, which means “giant fish” in Chinese. National Security Council Secretary General Wellington Koo, American Institute in Taiwan Director Sandra Oudkirk, Defense Minister Chiu Kuo-cheng, Kaohsiung Mayor Chen Chi-mai and other dignitaries attended the ceremony, CNA reported. Strongly opposed by Beijing for her refusal to accept China’s authority over the island, Tsai launched a submarine program in 2016 with the aim of delivering a fleet of eight vessels. Construction on the first started in 2020 by CSBC Corporation, a company specializing in container ships and military vessels. Carrying a price tag of $1.5 billion, the submarine’s displacement weight is about 2,500 to 3,000 tons, with its combat systems and torpedoes sourced from the United States defense company Lockheed Martin. Ben Lewis, a US-based independent analyst who focuses on the Chinese military’s movements around the island, said the Taiwanese submarine can pose a threat to Chinese amphibious assault and troop transport capabilities. “They have practised extensively the use of civilian vessels to augment their existing troop delivery platforms, and a submarine could wreak havoc on vessels not designed for naval warfare,” Lewis said. The submarine will still need at least three years to become operational, Zivon Wang, a military analyst at Taipei-based think tank the Chinese Council of Advanced Policy Studies, said. “The launch... does not mean that Taiwan will become very powerful right away but it is a crucial element of Taiwan’s defense strategy and a part of our efforts to build deterrence capabilities,” Wang said. China’s state-run Global Times on Monday published an op-ed saying Taiwan’s submarine deployment plan to block the Chinese military was “daydreaming.” “The plan is just an illusion of the island attempting to resist reunification by force,” it said. The post Sub bolsters Taiwan defense vs China appeared first on Daily Tribune......»»