Economic
China to develop 10,000 ‘little giants’ in push for advanced manufacturing
Six Chinese ministries jointly issued a guideline over the weekend saying that by 2025, the nation aims to develop 10,000 "little giant" enterprises that specialize in niche sectors and 1,000 enterprises that are champions in a single industry, as well as groups of leading companies. Industry observers said that the guideline underscores China's strategic policy shift in the next five years to focus on breakthroughs in specific and critical sectors and supply chains where the country may be vulnerable amid a spiraling technology war between the world's two largest economies. Preserving a large, complete domestic manufacturing sector could remain a key in the overall blueprint, but China will also widen its effort in building homegrown "hidden champions" - small and medium-sized enterprises (SMEs) that dominate major markets in niche sectors - to close gaps with the likes of the US, Japan and Germany in advanced manufacturing. Among the six ministries were the Ministry of Industry and Information Technology (MIIT), the Ministry of Science and Technology, the Ministry of Finance, and the Ministry of Commerce.
Click here to read...
China’s tech giants have wiped out $823bn, and it’s not over yet
China’s technology giants have wiped out a combined $823 billion since their February peaks, and Beijing’s expanding crackdown on the sector is fueling investor concern that the selloff is far from over. Authorities on July 06 issued a sweeping warning to the nation’s biggest companies, vowing to tighten oversight of data security and overseas listings just days after Didi Global Inc.’s contentious decision to go public in the U.S. That has put further selling pressure on China’s biggest technology names including Tencent Holdings Ltd., Alibaba Group Holding Ltd., JD.Com Inc., Baidu Inc. and Meituan.Stock prices are likely to be driven by near-term sentiment swings as opposed to company fundamentals, Jian Shi Cortesi, a Zurich-based fund manager at GAM Investment Management, wrote in an email. To be sure, valuations may start to look attractive. Tencent, Alibaba and Baidu Inc. — among the earliest Chinese tech companies to enter public markets and the biggest, trade at an average of 22 times forecasted earnings over the next 12 months. “In case the market sentiment goes into extreme pessimism and we see the Hang Seng Tech Index down 20% from here, it could be a rare opportunity to buy some fast-growing Chinese internet companies at extremely attractive prices,” GAM’s Jian Shi said.
Click here to read...
COVID-19 takes heavy toll on SDGs
The COVID-19 pandemic has rolled back years, or even decades, of progress toward the Sustainable Development Goals (SDGs), a UN report shows.The effects of the pandemic have reversed much of the progress made in reducing poverty, with global extreme poverty rising in 2020 for the first time since the late 1990s, according to the report released on July 06.Even before COVID-19, the world was not on track to achieve the goal of ending poverty by 2030. Based on current projections, the global poverty rate is expected to be 7 percent [around 600 million people] in 2030, missing the target of eradicating poverty, SDG1.COVID-19 has had a further and profound impact on hunger and food security, triggered by disruptions in food supply chains, income losses, widening social inequities, an altered food environment and price hikes. Hunger was already on the rise prior to the pandemic. In 2019, some 688 million people were going hungry, compared with 628 million in 2014. In 2019, some 2 billion people were suffering from food insecurity.The pandemic has interrupted essential health services and poses major health threats beyond the disease itself.
Click here to read...
Oil climbs as US dollar falls amid OPEC+ supply stalemate
Oil prices rose as a weaker dollar and strong U.S. fuel demand during the country’s peak summer driving season boosted the commodity after a week of volatile trading. Futures advanced as much as 2.4% on July 09, gaining in tandem with other commodities. The dollar weakened, boosting the appeal of commodities priced in the currency. Prices rose after a U.S. government report this week showed the seventh straight decline in crude inventories and record gasoline demand in the week leading into the July 4th holiday weekend. Still, crude is set for its first weekly loss since May, on near-term supply uncertainty. The Organization of Petroleum Exporting Countries and its partners have been unable to reach an agreement to raise output for August and subsequent months. Oil prices have climbed on rising fuel consumption in countries such as the U.S., India and China. At the same time, the OPEC+ alliance and U.S. shale producers have practiced discipline toward returning supply that was shelved during the pandemic. The global oil market will remain in “deep deficit” of more than 3 million barrels per day through the third quarter of the year, according to Citi analysts.
Click here to read...
Russia's National Welfare Fund Ditches US Dollar, Finance Ministry Says
The Russian Finance Ministry said on July 06 it had finally brought the share of US dollar in the National Wealth Fund (NWF) to zero, and of the British pound to 5%, increasing euro and yuan shares to 39.7% and 30.4%, respectively. "The Russian Finance Ministry reports the completion on 5 July 2021, of the conversion operations necessary to bring the actual structure of the NWF funds to the new regulatory structure", the statement says. As a result of these operations, the US dollar was excluded from the structure of the NWF funds, while the share of the pound sterling was reduced to 5.0%. The share of the euro and the Chinese yuan increased to 39.7% and to 30.4%, respectively, whereas the share of the Japanese yen was 4.7%, and the share of non-cash gold 20.2% In June 2021, the NWF decreased by 363 billion rubles to 13.575 trillion rubles, and in dollars — by $1.8 billion to $187.6 billion, the ministry said.
Click here to read...
Biden signs executive order to boost corporate competition
U.S. President Joe Biden signed an executive order July 09 to promote competition and intensify scrutiny of corporate giants, aiming to protect consumers, workers and smaller businesses harmed by consolidation.The order goes beyond Big Tech -- which has come under particular fire over antitrust concerns -- to a wide range of sectors including telecommunications, transportation and banking.In a speech at the White House, Biden argued that control of markets by a few large players leads to higher prices, worse service and lower wages."No more tolerance for abusive actions by monopolies, no more bad mergers," he said.The order includes 72 initiatives for federal agencies, targeting issues such as excessive early termination fees charged by internet companies, which hinder users from switching service providers. It calls for barring or restricting noncompete agreements that block workers from moving to rival employers.The directive calls on the Justice Department and the Federal Trade Commission to "enforce the antitrust laws vigorously," according to a White House fact sheet.
Click here to read...
China outspends US in ASEAN investment blitz
China plans to open a big solar panel module plant in Malaysia and build a 580 km highway in Laos, part of a charm offensive as the U.S. steps up efforts to counter Beijing's influence in Southeast Asia. The Chinese investment blitz, involving large-scale projects and economic assistance, is widely viewed as an effort to undermine the U.S. in the race for greater influence in the region. Beijing also wants to cajole countries upset over its own military buildup in the South China Sea. According to the Xinhua News Agency, the Laotian government approved on June 7 the construction of a roughly 580 km highway for $5.1 billion. Vietnam, with which China has a territorial dispute in the South China Sea, is also a target of Beijing's spending spree. China invested in 61 projects in Vietnam from January through April, for a total of roughly $1 billion, according to Vietnamese media. Beijing is determined to block Washington's efforts to lure ASEAN to its side. Group of Seven nations agreed at a summit in mid-June to create a Belt and Road-style infrastructure initiative to assist developing economies. The Chinese summit with ASEAN foreign ministers took place soon after.
Click here to read...
China to require review of overseas IPOs by companies with data on 1m users
Chinese companies seeking to list overseas will be subjected to regulatory screening by Beijing authorities if they have 1 million or more users with registered personal information, the country's internet regulator said on July 10. The decision marks China's first big move in its crackdown on offshore listing by Chinese companies. China is home to a number of companies with millions of registered online users. The clampdown will likely affect many companies and cast a shadow over the country's tech sector. On July 10, the Cyberspace Administration of China began taking public comments regarding the revision of its network safety review measures. The revised proposal includes a new clause which states that companies holding the personal information of over 1 million individuals must undergo a security review when listing overseas. Chinese companies will also be required to submit materials regarding their initial public offerings. A "special review," which is conducted when there is a disagreement among authorities, has in the past been completed within 45 days but will now be extended to three months, as China aims to tread carefully in its evaluations. Beijing has already made multiple investigations into Chinese companies listing overseas.
Click here to read...
Taiwan nuclear plant closure tests Tsai's energy transition
Taiwan's Kuosheng Nuclear Power Plant 2 reactor 1 shut down last week, six months before its scheduled retirement on Dec. 27 due to spent fuel-storage capacity constraints that prevent it from being refueled. The closure of the reactor marks another milestone in the island's energy transition, a key initiative of President Tsai Ing-wen. Her administration aims to shut down all of Taiwan's nuclear reactors by mid-2025 and replace their power with huge swathes of renewable energy and natural gas power. Kuosheng reactor 1 is the third of Taiwan's six reactors to be shut down, with the remaining operational reactors due to close at the rate of one per year, starting in 2023 through 2025. The 985-megawatt Kuosheng reactor 1 generated nearly 3% of Taiwan's total power, and its loss comes amid surging power demand and capacity constraints that have already led to two blackouts.Solar power generates at a far lower capacity of only 15% in Taiwan, amounting to only 1,800MWh daily. The Chiahuei 2 CCGT unit can operate at very high capacities of 98% but its smaller size means it can only generate around 11,760MWh daily.
Click here to read...
Sri Lanka’s toxic ship exposes maritime law flaws
The X-Press Pearl was carrying 1,486 containers and burned for two weeks. It then sunk in early June, causing one of Sri Lanka’s greatest environmental disasters. Chemicals contaminated waters, killing marine life and destroying breeding grounds. The contaminants include nitric acid, sodium dioxide, copper and lead, and tonnes of plastic nurdles (pellets) which can take centuries to decompose. It is believed the leakage of properly declared, but inappropriately or incorrectly packed or stowed nitric acid caused the X-Press Pearl fire. Nitric acid is a corrosive, toxic and flammable liquid — and the X-Press Pearl was carrying 25 tonnes of it. Data indicate the possibility of more than 150,000 annual cases of undeclared or misdeclared dangerous goods capable of causing fires. The incidence may be higher depending on the shipping route. Another fire risk has to do with competition between shipping companies, which is based on carrying capacity and efficiency. This has forced an exponential growth in container ship sizes, which escalates the probability of a fire. It also makes detecting a fire difficult, if not impossible, until it is well advanced. SOLAS (Safety of Life at Sea) regulations govern on-board firefighting.
Click here to read...
Strategic
China floats 'Africa Quad' with Germany and France
China, Germany and France can together assist the development of Africa in a "four-party" framework, Chinese President Xi Jinping proposed to his European counterparts in an online summit. The idea of quadrilateral cooperation on Africa -- an "Africa Quad" -- came in the form of an invitation to German Chancellor Angela Merkel and French President Emmanuel Macron to join the Initiative on Partnership for Africa's Development, a framework Beijing launched with African countries in May. Xi's discussion with the German and French leaders on July 05 was his first known overseas call after the 100th anniversary of the Chinese Communist Party on July 1. A Xinhua News Agency read out hinted at the Chinese leader's frustration at the Biden administration's efforts to unite allies in the face of a rising Beijing. The world more than ever needs mutual respect and close collaboration, rather than suspicion, antagonism or zero-sum game, Xi said. China and Europe should "view each other's differences in a correct way, rationally handle divergences, and ensure ties between the two sides move forward," he said.
Click here to read...
Moscow Not Excluding Dialogue With US on Russia’s Latest Weapons Systems
Moscow is not ruling out a dialogue with the United States on Russia's latest weapons systems if it also includes talks on American prospective hypersonic weapons and other issues, Deputy Foreign Minister Sergey Ryabkov said. "I do not know, but I think that you can't do it without talking about them [Russian weapons systems]. But equally, Americans must proceed from the fact that we will talk about a whole series of their systems that bother us … these are the prospects for the appearance of US intermediate- and shorter-range missiles in Europe and the Asia-Pacific region, this is space, these are US hypersonic [weapons], these are also US conventional systems, which are designed to solve strategic problems and a number of other aspects," Ryabkov said in an interview with the MezhdunarodnayaZhizn magazine, published on July 06. The US still believes that it is able to provide its own security by creating the global missile defense system and devaluing other countries' strategic potentials, the diplomat noted. This is the only reason why Russia has obtained its new weapons systems, as it seeks to prevent the diminishing of its own security guarantees, he explained.
Click here to read...
Biden urges Putin to act on ransomware attacks, hints retaliation
President Joe Biden pressed Russian President Vladimir Putin to act against hackers in his country blamed for recent ransomware attacks affecting thousands of companies around the world, warning that the US would defend networks considered vital to the economy. “I made it very clear to him that the United States expects when a ransomware operation is coming from his soil, even though it’s not sponsored by the state, we expect him to act,” Biden told reporters at the White House on July 09, after about an hour-long call with the Russian leader. Putin told Biden that their cybersecurity discussions must be “professional and depoliticized” and that he welcomes “in-depth and constructive” cooperation on the issue, according to a Kremlin statement. He noted the U.S. hasn’t asked Russia for any assistance on the attacks in the last month. The U.S. president is facing pressure to respond following a spate of ransomware attacks believed to have originated in Russia, including an audacious breach last week that affected more than 1,000 businesses with victims in at least 17 countries and a cyberattack against the Republican National Committee.
Click here to read...
Top U.S. Commander in Afghanistan Steps Down From Post
The top U.S. commander in Afghanistan stepped down from the post July 12, marking a symbolic end to the American role in the war as Taliban militants continue to rout government forces and take territory across the country. Army Gen. Scott Miller, the longest serving of all the commanders who have led forces over the nearly 20-year conflict, relinquished command at an event at the military headquarters in Kabul attended by the few U.S. military and other U.S. officials still here. The military’s role doesn’t technically end until Aug. 31, and will endure past that date indefinitely, albeit in a more limited fashion, officials have said. The White House is still determining what the U.S. role will be and if and when it would conduct airstrikes to support the Afghan government or strike terrorism targets. Gen. Miller has been replaced by the head of U.S. Central Command, Marine Gen. Frank McKenzie, who will oversee the war effort from his headquarters in Tampa, Fla. Other senior officers have been appointed to manage operations from the U.S. Embassy in Kabul and from al-Udeid air base in Qatar, 2,200 miles away.
Click here to read...
China to serve as ‘mediator’ for regional security on Afghan issue during Wang Yi’s visit to Central Asia
As the Chinese foreign minister is scheduled to visit three Central Asian countries on July 12, all close neighbors of Afghanistan, the timing is optimal as Afghanistan has become a regional hot spot following the withdrawal of US-led troops, Chinese analysts said. The visit will provide a platform for China and the three countries to cooperate on regional security and China may offer financial and technical help for the countries that face challenges in securing border areas, analysts said. Chinese State Councilor and Foreign Minister Wang Yi will visit Turkmenistan, Tajikistan, and Uzbekistan between July 12 and 16 on the invitation of the foreign ministers of the three countries, Chinese Foreign Ministry spokesperson Wang Wenbin announced on July 09. During the visit, Wang Yi will meet with leaders of the three Central Asian countries and hold talks with their foreign ministers, according to the spokesperson.
Click here to read...
Say hello to the diplo-Taliban
A very important meeting took place in Moscow last week, virtually hush-hush. Nikolai Patrushev, secretary of the Russian Security Council, received HamdullahMohib, Afghanistan’s national security adviser.There were no substantial leaks. A bland statement pointed to the obvious: They “focused on the security situation in Afghanistan during the pullout of Western military contingencies and the escalation of the military-political situation in the northern part of the country.”The real story is way more nuanced. Mohib, representing embattled President Ashraf Ghani, did his best to convince Patrushev that the Kabul administration represents stability. It does not – as the subsequent Taliban advances proved.This week we can all see why. The Taliban emphatically assured their interlocutors there’s no Taliban interest in invading any territory of their Central Asia neighbors. It’s not excessive, in view of how cleverly they’ve been playing their hand, to call the Taliban desert foxes. They know well what Foreign Minister Sergey Lavrov has been repeating: Any turbulence coming from Afghanistan will be met with a direct response from the Collective Security Treaty Organization.
Click here to read...
Afghan pilots assassinated by Taliban as U.S. withdraws
Afghan Air Force Major DastagirZamaray had grown so fearful of Taliban assassinations of off-duty forces in Kabul that he decided to sell his home to move to a safer pocket of Afghanistan's sprawling capital.Instead of being greeted by a prospective buyer at his realtor's office earlier this year, the 41-year-old pilot was confronted by a gunman who walked inside and, without a word, fatally shot the real estate agent in the mouth.Zamaray “only went there because he personally knew the realtor and thought it was safe," Samiullah Darman, his brother-in-law, told Reuters. "We didn’t know that he would never come back."At least seven Afghan pilots, including Zamaray, have been assassinated off base in recent months, according to two senior Afghan government officials. This series of targeted killings, which haven't been previously reported, illustrate what U.S. and Afghan officials believe is a deliberate Taliban effort to destroy one of Afghanistan's most valuable military assets: its corps of U.S.- and NATO-trained military pilots.In so doing, the Taliban -- who have no air force -- are looking to level the playing field as they press major ground offensives.
Click here to read...
Pakistan fears Afghan chaos will exacerbate narcotics problem
Rising violence in Afghanistan could intensify narco-trafficking and exacerbate Pakistan's domestic drug problems, according to one of the country's most senior anti-narcotics officials. Akbar Durrani, federal secretary of Pakistan's Ministry of Narcotics Control, expressed his concerns during a wide-ranging interview with Nikkei Asia. Durrani described Afghanistan as one of the major narcotics challenges facing Pakistan. "If there is no political stability in Afghanistan," he said, "it might aggravate the problems which we are experiencing already. Peace talks in Doha have so far made little progress. But Durrani emphasized that the future is uncertain and a political settlement may still enable Afghanistan to control its drug problems. "Political stability is very much required," he said. Pakistan has long been a destination for Afghan-produced drugs, but the war has led to a dramatic increase in production and smuggling, and the Afghan drug economy is now far larger than it was two decades ago when the U.S. invaded and stayed.
Click here to read...
US does not support Taiwan independence: Kurt Campbell
US President Joe Biden's point man on Asia is "astonished" by China's determination to play the leading role on the global stage and will "step up" its engagement in Southeast Asia to hold back such a trend. But the administration does not support Taiwan independence and understands the sensitivities involved, Indo-Pacific Coordinator Kurt Campbell said July 06. "We support a strong unofficial relationship with Taiwan. We do not support Taiwan independence," Campbell said in response to a question from the moderator asking, "how much love is too much?" when it comes to stronger relations with the island. "We fully recognize and understand the sensitivities involved here,” he said. "We do believe that Taiwan has a right to live in peace. We want to see its international role, particularly in areas like vaccines and issues associated with the pandemic, they should have a role to play here, they should not be shunned in the international community." The Biden administration, meanwhile, will "step up our game substantially" with regards to Southeast Asia diplomacy, understanding that engagement with that region is key to successful Indo-Pacific policy, Campbell said.
Click here to read...
Deputy PM Aso says Japan would defend Taiwan with US, irking China
Japanese Deputy Prime Minister Taro Aso said his country "would have to defend Taiwan" with the United States if the island is invaded by mainland China, triggering a backlash from Beijing on July 06. If Taiwan were to experience a big problem, "it would not be too much to say that it could relate to a survival-threatening situation" for Japan, Aso, who also serves as finance minister, said at a gathering of a ruling Liberal Democratic Party lawmaker in Tokyo on July 05. Chinese Foreign Ministry spokesman Zhao Lijian told reporters on July 06 in Beijing, "Such remarks are extremely wrong and dangerous." "China is strongly dissatisfied with and firmly opposed to" Aso's comments, Zhao said, adding China has lodged a "solemn protest" with Japan. Taiwan was under Japanese colonial rule for 50 years through 1945. "Japanese militarism committed countless crimes of aggression against China," he said. "We never allow any country to intervene in the Taiwan issue in any way. No one should underestimate China's determination and strong ability to defend national sovereignty."
Click here to read...
U.S. repeats warning to China against attack on Philippine forces
The United States on July 11 repeated a warning to China that an attack on Philippine armed forces in the South China Sea would trigger a 1951 U.S.-Philippines mutual defense treaty. Secretary of State Antony Blinken made the comment in a written statement marking the fifth anniversary of a ruling by an arbitration tribunal repudiating China's vast territorial claims in the South China Sea. China - which lays claim to most of the waters within a so-called Nine Dash Line, which is also contested by Brunei, Malaysia, the Philippines, Taiwan and Vietnam - reiterated on July 09 that Beijing did not accept the ruling. "The United States reaffirms its July 13, 2020 policy regarding maritime claims in the South China Sea," Blinken said, referring to the rejection by former President Donald Trump's administration of China's claims to offshore resources in most of the South China Sea. "We also reaffirm that an armed attack on Philippine armed forces, public vessels, or aircraft in the South China Sea would invoke U.S. mutual defense commitments under Article IV of the 1951 U.S.-Philippines Mutual Defense Treaty," Blinken added.
Click here to read...
ASEAN deadlocked in selection of special envoy to Myanmar
Five months since the military toppled a democratically elected government in Myanmar, ASEAN has not been able to appoint a special envoy to help defuse the member country's political crisis and a major obstacle seems to be disunity within the group.Disagreement among ASEAN countries over the envoy's selection appears to be helping Myanmar's military, which wants to buy time to solidify its rule, but that has also led to frustrations for some within ASEAN who want to engage in the issue more actively.Leaders of the 10-member Association of Southeast Asian Nations had agreed on a "five-point consensus" at a summit in the Indonesian capital Jakarta in April that included appointing a special ASEAN envoy to Myanmar.The envisaged envoy would try to mediate in the dialogue process between various parties in the country, where pro-democracy forces were ousted from power in the Feb. 1 coup, with civilian leader Aung San Suu Kyi put under house arrest.ASEAN sources say there are three nominees -- VirasakdiFutrakul, a former Thai deputy foreign minister and veteran diplomat, Hassan Wirajuda, a former Indonesian foreign minister, and Razali Ismail, a Malaysian who was a U.N. special envoy for Myanmar in the 2000s tasked with facilitating national reconciliation and democratization in the country.
Click here to read...
China spells out wartime conscription plans for first time
Retired Chinese military personnel would be a top priority for conscription in wartime, according to draft regulatory changes released by the Ministry of Veterans Affairs on the weekend. The proposed changes to the country’s conscription regulations spell out for the first time how authorities would enlist veterans and other conscripts while the country was on a war footing. Under the regulations, the State Council or the Central Military Commission would issue mobilisation orders and hand responsibility for drafting soldiers to government and military agencies at various levels. Military veterans would be a target group and could rejoin their original unit or be posted to a similar position elsewhere, according to the draft. Authorities would have to help the veterans join up with those units.“During wartime, the transport department and workers shall give priority to enlisted soldiers; other organisations and personnel should also help them,” the regulations said.
Click here to read...
Nepal's Supreme Court reinstates parliament; orders new PM to be appointed
Nepal's Supreme Court on July 12 reinstated its parliament, which was dissolved by caretaker Prime Minister KP Sharma Oli in May, and ordered that his rival Sher Bahadur Deuba be appointed as prime minister.The move deals a major blow to Oli, who was unable to muster a majority in the House of Representatives and had sought to force a fresh election by dissolving parliament on May 22.Oli's move had sparked a fresh constitutional crisis in the Himalayan nation and it marked his second attempt to dissolve parliament in recent months after an initial attempt in December 2020, following a split in his party, was reversed by the Supreme Court in February.After Nepal's parliament had been reconstituted, Oli lost a confidence vote on May 10. Before his rivals could stake a claim however, he advised Nepal's President Bidya Devi Bhandari to dissolve parliament, saying neither he nor opposition leader Deuba were able to muster a majority and form a new government. The opposition decried the move and vowed to challenge it.
Click here to read...
President Moon in dilemma over Japan trip
President Moon Jae-in has a hard decision to make on whether to visit Japan on the occasion of the Tokyo Olympics as the envisaged trip is drawing a mixed response.Advocates for the President's participation in the opening ceremony of the quadrennial sporting event, which kicks off July 23, insist that he needs to go in order to break a deadlock in strained bilateral ties, but those critical of this say he should not travel to Tokyo as Japan is taking a lukewarm attitude toward a summit and not showing much resolve in addressing various disputes between the two countries.Moon is making a last-ditch effort to normalize Korea's relations with Japan before his term ends in May 2022, as this could enhance trilateral cooperation with the United States. In that sense, the two neighboring countries have been in talks over Moon's attendance at the opening ceremony, which would lead to his first summit with Japanese Prime Minister Yoshihide Suga and a discussion about pending bilateral issues, according to the foreign ministry here.
Click here to read...
‘State of siege’: Haitian PM declares nationwide state of emergency following president’s assassination
The second-highest level state of emergency has been declared throughout Haiti after its president was assassinated, Haiti’s acting Prime Minister Claude Joseph has announced. “We decided to declare the State of Siege [in] the whole country,” Joseph said in a televised address broadcast on national television following an emergency meeting of Haiti’s Council of Ministers. “We don’t want the country to plunge into chaos,” he added. A declaration of a state of siege is preceded only by a state of war. It involves a curfew, control over the media and civilian population, and closure of borders. Martial law is temporarily imposed and the army is deployed to aid police in maintaining law and order. It is scheduled to stay in place for 15 days, an order published in the nation’s official gazette on July 07 said. In his speech, the prime minister asked the people to “keep calm” and aid the government through these “difficult times.” He also repeatedly stated that the situation is “under control.” Haitian President Jovenel Moise was assassinated in a nighttime attack on his residence on July 07.
Click here to read...
Modern Ukraine is invention of Soviet-era, Putin claims, saying new country was created ‘at expense’ of historical Russian lands
Russia’s president has claimed that much of Ukraine is historically and ethnically Russian, and Kiev’s turn to the West since the 2014 Kiev Maidan amounts to a rejection of its deep ties with Moscow and its political reality. In an article published on the Kremlin’s website on July 12, President Vladimir Putin described how almost all of the Eastern European nation had fallen under the Russian Empire, and how Ukrainians and Russians can trace their culture and history back through shared roots. “Thus,” he argued, “modern Ukraine is entirely the brainchild of the Soviet era. We know and remember that, to a large extent, it was created at the expense of historical Russia.” According to him, “the Bolsheviks treated the Russian people as an inexhaustible material for social experiments. They dreamed of a world revolution, which, in their opinion, would abolish nation-states altogether.” As such, Putin argued, Russia's “borders were arbitrarily cut, and generous territorial ‘gifts’ were handed out.”
Click here to read...
Oman’s Sultan visits Saudi Arabia on first overseas trip
Oman’s Sultan visited Saudi Arabia on July 11 on his first official overseas trip since assuming power last year, with talks expected to focus on the Yemen war and economic and investment cooperation as Muscat looks to shore up its finances. Sultan Haitham bin Tariq al-Said, whose country has joined United Nations-led efforts to secure a peace initiative in Yemen, arrived in the Red Sea city of Neom for a two-day visit. He was greeted by Saudi King Salman – in what Saudi-owned media said was the 85-year-old monarch’s first face-to-face meeting since the coronavirus pandemic began – and Crown Prince Mohammed bin Salman. The sultan recently faced his biggest challenge with demonstrations against unemployment in the debt-burdened country, which is pursuing wide-ranging reforms and austerity measures. The Saudi cabinet authorised officials to prepare and sign draft agreements with Oman in fields including commerce, culture, investment promotion and post and transport, reported Bloomberg. Saudi Arabia and Oman will establish a joint council to oversee several agreements, Oman’s Foreign Minister Sayyid Badr al-Busaidi told the Saudi-owned Asharq Alawsat newspaper on July 10. He said the opening of a delayed new road linking the two Gulf states would facilitate logistics and other infrastructure projects.
Click here to read...
Medical
Taiwan’s Foxconn, TSMC confirm $350 million COVID-19 vaccine deal
Taiwan’s Foxconn and TSMC said on July 12 they had reached deals to buy 10 million doses of Germany’s BioNTech SE’s COVID-19 vaccine, putting the total cost of the highly politicised deal at around $350 million. Taiwan’s government has tried for months to buy the vaccine directly from BioNTech and has blamed China, which claims the self-ruled island as its own territory, for nixing an agreement the two sides were due to sign earlier this year. China denies the accusations. Last month, facing public pressure about the slow pace of Taiwan’s inoculation program, the government agreed to allow Foxconn’s founder Terry Gou, as well as Taiwan Semiconductor Manufacturing Co. (TSMC), to negotiate on its behalf for the vaccines. BioNTech’s Chinese sales agent Shanghai Fosun Pharmaceutical Group Co. Ltd. said on July 11 that an agreement had been signed, though no details of a delivery timeframe have been revealed yet. Gou wrote on his Facebook page that he was “gratified” the deal had been completed, which will see Foxconn and TSMC each buy 5 million doses, to be donated to the government for distribution.
Click here to read...
Israel to ship 700K Pfizer doses to South Korea in swap deal
Israel is sending 700,000 coronavirus vaccine doses to South Korea in exchange for a future shipment of vaccines from South Korea to Israel. Under the deal, Israel will transfer the Pfizer vaccines to South Korea in an effort to inoculate more of the Asian nation’s citizens this month. South Korea will send the same number of doses to Israel as early as September, the officials added. “This is a win-win deal,” Israel Prime Minister Naftali Bennett said in his statement. The agreement will “reduce the holes” in the vaccine’s availability. Jung Eun-kyeong, South Korea’s top infectious disease expert, confirmed the deal. She said the Seoul government will continue to pursue swap deals with other countries. “We are expecting to have a sufficient number of vaccines during the fourth quarter while we proceed with our vaccination campaign,” said Jung, director of the Korea Disease Control and Prevention Agency. South Korea has so far administered first doses to just 30 percent of its population. Israel has fully vaccinated nearly 5.3 million people of its population of 9.3 million.
Click here to read...
Tokyo enters 4th COVID-19 emergency, covering Olympics period
Prime Minister Yoshihide Suga's government put Tokyo under its fourth COVID-19 state of emergency on July 12 in an effort to contain a resurgence in coronavirus infections. With the measure, to last until Aug. 22, a period that will cover the duration of the Tokyo Olympics, the government aims to curb the movement of people during the global sports event, as well as the summer vacation period including Japan's Bon holiday in mid-August. The Summer Games, which will open July 23 and end Aug. 8, will be held behind closed doors at almost all venues. With the fresh emergency in place, some people voiced fear over an increase in infections in the country, as well as dissatisfaction toward the government's pandemic response. "It is natural to have the games with no spectators, but I believe it would surely increase the flow of people. I'm worried that it could lead to a further rise in the number of infections," said Toshihiro Numata, a 60-year-old worker in the city of Yokohama, near Tokyo. "I want the government to take more short-term measures such as quickly delivering the vaccines," said Toru Kamada, a resident of the city of Yao in Osaka.
Click here to read...
People jabbed with Sinovac COVID-19 vaccine to get AstraZeneca as second dose: Thailand health ministry
Thailand is planning to combine the Sinovac and AstraZeneca COVID-19 vaccines in its national inoculation programme to boost public immunity against the coronavirus variants, the Public Health Ministry announced on July 12. “The National Communicable Disease Committee approved the alternation of vaccines, with Sinovac being the first dose and AstraZeneca the second. They’ll be administered about three to four weeks apart,” said Health Minister AnutinCharnvirakul. Thai health authorities believe the combination of COVID-19 vaccines in such order will increase public immunity against the coronavirus, particularly the highly-contagious Delta variant, which was first identified in India. “This is believed to provide better protection against the Delta variant as the immunity will quickly increase to a level that is close to what two doses of AstraZeneca can produce. Moreover, it’d take less time to boost the immunity this way,” said Dr OpasKankawinpong, director-general of the Disease Control Department.
Click here to read...
Analysis - Pfizer/BioNTech bid for booster doses premature, more data needed - experts
Pfizer Inc's push for health regulators to authorize a third dose of its COVID-19 shot is not yet backed by evidence, despite the fast-spreading Delta variant, vaccine experts said.Pfizer and German partner BioNTech SE said last week that they will ask U.S. and European regulators within weeks to authorize a booster dose due to an increased risk of infection after six months.The companies did not share the data showing that risk, but said it would soon be made public. In interviews with Reuters, some leading vaccine experts questioned Pfizer's rationale and said that more data was needed to justify a booster, especially as many countries struggle to administer the initial vaccine doses needed to protect their citizens."It's disappointing that with such a complicated decision they took such a unilateral approach," said Dr. Larry Corey, a virologist at Seattle's Fred Hutchinson Cancer Center who is overseeing U.S.-government backed COVID-19 vaccine trials.
Click here to read...
