Global Developments and Analysis: Weekly Monitor, 23 August - 29 August 2021

Economic

US regulators target oil and gas mergers as fuel prices surge

The Federal Trade Commission is examining ways to crack down on mergers and acquisitions in the oil and gas industry and investigate whether gas station franchise networks are driving up gas prices as part of a Biden Administration effort to combat higher prices at the pump. FTC Chair Lina Khan is directing staff to identify new legal theories to challenge retail fuel station mergers and investigate possible collusion by national chains to push up prices, she said in an Aug. 25 letter to White House economic adviser Brian Deese obtained by Bloomberg. The FTC also plans to impose “prior approval” requirements to deter oil and gas mergers, including in retail gas markets that could be illegal. “Over the last few decades, retail fuel station chains have repeatedly proposed illegal mergers, suggesting that the agency’s approach has not deterred firms from proposing anticompetitive transactions in the first place,” Khan said. The FTC is planning to ratchet up investigations into abuses in the retail fuel station franchise market, she added. But the decision also comes as oil prices have become a political liability for President Joe Biden, heightened by fresh concerns that Hurricane Ida could further push up prices at the pump.
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China Plans to Ban U.S. IPOs for Data-Heavy Tech Firms

China plans to propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the U.S., people familiar with the matter said, a move that is likely to thwart the ambitions of the country’s tech firms to list abroad. In recent weeks, officials from China’s stock regulator have told some companies and international investors that the new rules would prohibit internet firms holding a swath of user-related data from listing abroad, the people said. The regulators said that the rules target companies seeking foreign initial public offerings via units incorporated outside the country, according to the people. China Securities Regulatory Commission officials said that companies with less sensitive data, such as those in the pharmaceutical industry, are still likely to receive Chinese regulatory approval for foreign listings, according to the people. The new rules are likely to help Beijing exert more control over the complex corporate structure that China’s biggest tech companies use to sidestep restrictions on foreign investment. Chinese leaders consider sectors such as the internet, telecommunications and education sensitive because of political or national-security concerns.
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China’s largest bad-debt manager Huarong posts a record US$15.9 billion loss, underscoring massive bailout ahead

China Huarong Asset Management’s long-delayed 2020 results showed a record loss, with leverage hitting 1,333 times and capital buffers far short of the regulatory minimum, emphasising the difficult task ahead for the bad-debt manager that recently secured a government bailout. Huarong reported a 102.9-billion-yuan (US$15.9 billion) loss for all of last year, slashing its shareholder equity by nearly 85 per cent, the firm said in a filing on Sunday in Hong Kong. The company booked 107.8 billion Yuan in impairments and suffered a 12.5 billion Yuan loss on financial assets. While it returned to a profit of 158 million Yuan in the first half this year, Huarong’s key capital level was far below regulatory requirements as of June. After five months of turmoil since it delayed its earnings report in March, China’s biggest bad debt manager this month secured a rescue package from some of the nation’s biggest financial firms. Its plight had become the biggest test in decades of whether Beijing would still shield state-owned firms from market forces amid a renewed push by President Xi Jinping to rein in debt growth as defaults have hit records.
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Chinese firms’ direct investment in Africa rises despite Covid-19

China’s foreign direct investment in Africa grew in 2020 year on year despite the coronavirus, the latest figures show. The Beijing-based China-Africa Business Council (CABC), which promotes trade and investment, has released a report detailing how much Chinese companies have invested, and where. The cumulative total of US$47.4 billion invested by the end of 2020 included US$2.96 billion last year, according to Chinese commerce ministry data was up from 2019’s US$2.7 billion. A United Nations report showed that global foreign investment in Africa fell 16 per cent in 2020. The CABC found that 12 countries accounted for two-thirds of the total since Chinese companies began investing in the continent. They included middle-income countries – South Africa and Egypt – and resource-rich nations, in Nigeria, Angola, the Republic of Congo, Zambia, Ghana, Algeria and the Democratic Republic of Congo (DRC).At the end of 2020, Chinese enterprises’ total investment in those 12 countries was US$32.4 billion, accounting for 68 per cent of China’s direct investment in Africa.
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China's Big Tech vows to give back as Xi touts 'common prosperity'

China's top internet companies have pledged billions of dollars for social goods in response to President Xi Jinping's call to share their wealth, in a sign of the big politically driven change in a sector already hit by Beijing's regulatory crackdown. Philanthropic and investment commitments have been unveiled this year by companies ranging from Tencent Holdings to online retailer Pinduoduo and top executives including Wang Xing of food delivery platform Meituan and Lei Jun of smart phone maker Xiaomi. These efforts will fund areas such as research, agriculture and clean energy. The pledges come as Xi ratchets up rhetoric about "common prosperity" -- which includes income regulation and redistribution -- and bids to narrow the yawning income inequality gap in the world's second-largest economy. Businesses have shifted noticeably. After reporting first-half earnings, large companies such as Alibaba Group Holding and online retailer JD.com focused on plans to create value for society instead of profits, spooking investors already worried by Beijing's regulatory crackdowns. Analysts are trying to gauge whether the shift represents a serious threat to corporate bottom lines, or whether investments ultimately will rebound to companies' benefit.
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Indonesia's capital relocation plan 'still on,' Jokowi says

President Joko "Jokowi" Widodo on Aug 24 said the government will proceed with its $32 billion plan to relocate Indonesia's capital city from Jakarta to the island of Borneo, while the strongest candidate to succeed him so far assured he supports the move. Widodo on Aug 24inspected newly completed sections of a 97 km toll road connecting the two largest cities in East Kalimantan Province, Balikpapan and Samarinda. With Widodo now in his second and final term, the announcement shows a renewed push for the relocation plan, a proposed solution to Jakarta's overcrowding, pollution and flood risk. Not only is it the first toll road in Kalimantan, the Indonesian part of Borneo island, but it also provides access to the planned site for Indonesia's new capital in a now-forested area. Shortly after his re-election in 2019, Widodo announced a 466 trillion-rupiah ($32.3 billion) plan to move Indonesia's administrative capital to East Kalimantan, citing Jakarta's chronic traffic and sinking foundations, as well as the need to spur economic activities and growth in the eastern half of Indonesia. Jakarta will remain as the country's financial and commercial hub.
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South Africa’s unemployment rate, which contributed to winter looting spree, reaches record high of 34.4%

South Africa’s unemployment rate has climbed to a new record high of 34.4%. Incredibly high jobless rates continue to contribute to social unrest and were a key factor in the outbreak of violence and looting this winter. On Aug 24, Statistician General Risenga Maluleke announced that the unemployment rate had risen from 32.6% in the first three months of the year to 34.4% in the second quarter. According to Bloomberg, the figure is the highest of 82 countries monitored by the financial software and media firm. Job creation has been put at the center of the plan for post-pandemic South Africa by President Cyril Ramaphosa, but the country continues to suffer from Covid-19 restrictions and long-term economic mismanagement. Earlier this year, thousands took part in widespread violence and looting across Gauteng and Kwazulu-Natal. More than 300 people died during the rioting, which saw around 3,000 stores looted. The army was called in to stabilize the two provinces and some 3,400 people were arrested. The riots were also triggered by the arrest of former president Jacob Zuma, who refused to appear at a corruption trial.
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Las Vegas roars back to life with record gambling win – US$1.36 billion in July – as visitors flock to the city that Covid-19 couldn’t beat

Barely a year after the Las Vegas Strip was shut down by Covid-19, its world-famous casinos have roared back to a record-breaking summer thanks to a remarkable winning streak. Nevada pocketed an all-time record US$1.36 billion last month from gamblers, who are flooding back to the city nicknamed Lost Wages, after months confined at home with little to spend their money on. “We weren’t anticipating these type of numbers,” said Michael Lawton, senior analyst for Nevada Gaming Control Board. “In Nevada, a billion dollars in gaming win is kind of a bellwether number. And we’ve recorded a billion dollars in gaming win in five consecutive months.” July was something of a “perfect storm”, thanks to the presence of major events including a Conor McGregor fight, a Garth Brooks concert at the gleaming new Allegiant Stadium, and the return of musical residencies such as Usher and Bruno Mars at swanky casino theatres. Americans’ reluctance to travel abroad during the Covid-19 pandemic appears to have benefited Las Vegas, with domestic tourism surging.
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What the world can learn from the largest electric vehicle market, China

Despite the pandemic, global sales of electric vehicles (EVs) increased by 43 per cent in 2020. Total EV sales in China were 1.3 million, an increase of 8 per cent compared to 2019, and 41 per cent of all EVs sold worldwide. Though Europe sold more than China for the first time since 2015, China is still the world’s biggest national market for EVs. The best-selling EV in China is not Tesla’s Model 3, but the tiny Hongguang Mini EV, produced by SAIC-GM-Wuling Automobile, a joint venture between China’s state-owned SAIC Motor, US carmaker General Motors and another Chinese company, Wuling Motors. The conglomerate positions the car as “the People’s Commuting Tool” in its advertising, with a starting price of 28,800 Yuan (US$4,485) and a fully charged driving range of 120km.Since its debut in July 2020, the Hongguang Mini EV has sold over 270,000 units and was the best-selling EV worldwide in January. This was quite a surprise, as Chinese consumers have traditionally preferred larger models with internal combustion engines. But our recent research on consumer preferences in China reveals significant market opportunities for EVs in small cities and how innovative business models could encourage even more people to ditch their fossil-fuelled cars.
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Biden tightens cyber security

US President Joe Biden gathered Aug 25 with business and government leaders to discuss improving cyber security following high-profile attacks that raised questions about the vulnerability of so-called critical infrastructure. Biden and key cabinet officials hosted chief executives of Apple, Google, Amazon and Microsoft, along with leaders from the finance and utilities sectors. The gathering comes after hacks and data breaches that have targeted a major US oil pipeline, a meatpacking company and the Microsoft Exchange email system, as well as ransomware attacks hitting various sectors. "The reality is, most of our critical infrastructure is owned and operated by the private sector, and the federal government can't meet this challenge alone," Biden said at the start of the meeting. "I've invited you all here today because you have the power and the capacity and responsibility, I believe, to raise the bar on cyber security. And so, ultimately, we've got a lot of work to do. "Some analysts have called for tougher sanctions against countries accused of harbouring cybercriminals. Others have suggested more scrutiny of crypto-currency, which is used by hackers to collect ransomware.
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Strategic

US exit will stop IS attacks in Afghanistan, Taliban says

The Taliban's spokesman says the hardline Islamist group will crack down on Islamic State attacks and expects them to end once foreign forces leave the country. "We hope that those Afghans who are influenced by IS ... will give up their operations on seeing the formation of an Islamic government in the absence of foreigners," Taliban spokesman Zabihullah Mujahid told AFP in a weekend interview. "If they create a situation for war and continue with their operations, the Islamic government ... we will deal with them," he added. A devastating suicide bomb attack claimed by IS outside Kabul airport on Aug 26 killed scores of people who were hoping to flee the country, as well as 13 US service members. Retaliatory or pre-emptive strikes by the United States on IS positions over the past few days have angered the movement, however. The Pentagon said it carried out a drone strike Aug 29 against a vehicle threatening Kabul airport that had been linked to IS. "There is no permission for them to do such operations ... our independence must be respected," he said.
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Macron says France, Britain to propose Kabul safe zone to UN

France and Britain will submit a resolution to an emergency United Nations meeting due on Aug 30 proposing a safe zone in Kabul to try and protect people trying to leave Afghanistan, French President Emmanuel Macron said on Aug 29."Our resolution proposal aims to define a safe zone in Kabul, under UN control, which would allow humanitarian operations to continue," Macron told French newspaper Le Journal du Dimanche (JDD) in an interview published on Aug 29. On a visit to Mosul in Iraq, Macron later confirmed the comments and said he was hopeful the resolution would be welcomed favourably."I cannot see who could oppose enabling the safety of humanitarian operations," Macron told reporters. UN Secretary-General Antonio Guterres is convening a meeting on Afghanistan with the UN envoys for Britain, France, the United States, China and Russia - the Security Council's permanent, veto-wielding members. Macron said on Aug 28 that France was holding preliminary discussions with the Taliban about the humanitarian situation in Afghanistan and the possible evacuation of more people.US military forces, which have guarded the airport in Kabul, are due to withdraw by Aug 31 deadline set by President Joe Biden.
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Uzbekistan Warns U.S. That Afghan Pilots and Their Families Can’t Stay

Facing Taliban pressure, Uzbekistan has warned the U.S. that a group of highly trained Afghan pilots who fled there two weeks ago aboard Afghan Air Force helicopters and airplanes face expulsion from the country, officials say. Uzbekistan is urging Washington to act quickly to take the pilots to a third country to avoid inflaming relations with the Taliban in neighbouring Afghanistan, these officials say. Uzbekistan has maintained relations with the group for years while carefully hedging between powers vying for influence in Afghanistan. The U.S. effort to train and build an Afghan air force was among the most celebrated programs in support of the country’s military. The Afghan government and military collapsed earlier this month, and the Taliban has taken control of most of the country. Some Afghan pilots flew themselves to safety with hundreds of family members and colleagues aboard 46 Afghan Air Force helicopters and planes. These pilots are among the Taliban’s most hated enemies because of their role in airstrikes that inflicted high numbers of casualties during the decades’ long conflict. The Taliban also have called on Uzbekistan to return the aircraft to Afghanistan.
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Turkey poised to recognize Taliban as Afghanistan's govt, expected to sign deal to operate Kabul airport after US exit - reports

NATO member Turkey is reportedly nearing a deal to recognize Afghanistan’s Taliban government and operate the Kabul airport in partnership with Qatar, paving the way for the Islamist group to attract foreign aid and investment. The agreement is awaiting approval by Turkish President Recep Tayyip Erdogan and will be finalized once Washington’s exit is completed, the Middle East Eye (MEE) reported on Aug 28, citing two unidentified people familiar with the negotiations. One apparent sticking point in Ankara’s talks with the Taliban has been the issue of who will provide airport security. “How can we give the security to you (the Taliban)?” Erdogan told reporters on Aug 28. How would we explain it to the world if you took over security and there is another bloodbath there? This is not an easy job. The MEE report indicated that Turkey would provide security through a private contractor, manned by former Turkish soldiers and police. And Turkish Special Forces would operate in plainclothes to protect the country’s citizens within the airport’s perimeter. In return, the Taliban would be recognized by Ankara as Afghanistan’s legitimate government.
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Credible reports of Taliban executions in Afghanistan – UN human rights chief

Speaking on Aug 24, UN human rights chief Michelle Bachelet urged the Human Rights Council, a Geneva-based forum, to closely monitor the actions of Afghanistan's new rulers, the Taliban. Bachelet said there had been credible reports that the group was committing human-rights violations, including the "summary execution" of civilians as well as those who served in the defence of the US-backed government. Bachelet added that the maltreatment of women and girls was also "a fundamental red line."A draft resolution, which calls for Bachelet to report back to the council in March 2022, will be considered by the Geneva-based forum. The resolution does not mention the Taliban by name and makes no provision for a probe into rights abuses in Afghanistan. The text, which was submitted by Pakistan, also urges parties to respect human rights law including "the full and meaningful participation of women" and minority groups. A western diplomat told Reuters they were disappointed by the weak text. Meanwhile, Chen Xu, China's ambassador to the UN in Geneva, said the US and its NATO allies should also be held accountable for alleged rights abuses in Afghanistan. The Chinese foreign ministry has repeatedly highlighted reported accounts of rights abuses by western troops.
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EU foreign affairs chief proposes new reactive force, as Afghan crisis highlights bloc’s military shortfalls

The EU high representative for foreign affairs has proposed an “initial entry force” of 5,000 troops so the bloc is better prepared for future emergencies, after the crisis in Afghanistan put its security failures in spotlight. In an interview with Corriere Della Sera, Josep Borrell said the EU must be better prepared in the future, after apparent shortcomings came into focus due to the situation in Afghanistan. He added that the US is not willing to “fight for other people’s wars anymore.” Borrell stressed that the Afghan crisis was symbolic of a shift in international relations, namely in regards to the EU separating itself from the US in foreign security matters. “This is not a time for our disengagement,” the EU high representative said. “As Europeans, we have to use this crisis to learn to work more together and reinforce our strategic autonomy. As Europeans, we should be able to do things also on our own.” Borrell put forward a proposal of what he called an “Initial Entry Force,” which he said would consist of 5,000 EU troops who could be quickly mobilized and engaged on short notice.
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US combat forces to leave Iraq by end of year, Biden says

US President Joe Biden and Iraqi Prime Minister Mustafa al-Kadhimi on Aug 30 sealed an agreement formally ending the US combat mission in Iraq by the end of 2021, more than 18 years after US troops were sent to the country. Coupled with Biden’s withdrawal of the last American forces in Afghanistan by the end of August, the Democratic president is completing US combat missions in the two wars that then-President George W Bush began under his watch. Biden and Kadhimi met in the Oval Office for their first face-to-face talks as part of a strategic dialogue between the United States and Iraq. “Our role in Iraq will be … to be available, to continue to train, to assist, to help and to deal with ISIS as it arises, but we’re not going to be, by the end of the year, in a combat mission,” Biden told reporters as he and Kadhimi met. There are currently 2,500 US troops in Iraq focusing on countering the remnants of ISIL (ISIS). The US role in Iraq will shift entirely to training and advising the Iraqi military to defend itself. The shift is not expected to have a major effect since the United States has already moved towards focusing on training Iraqi forces.
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Japan public favours Kono and Ishiba in LDP race: poll

Taro Kono, Japan's regulatory reform minister and also minister in charge of vaccinations ranked first in a Nikkei poll as "a person suited to be the next president of the Liberal Democratic Party." The answer was chosen by about 16% of respondents in an opinion poll conducted from Aug. 27 to 29 by Nikkei. Shigeru Ishiba, former secretary-general of the ruling party, almost tied for first place, with just a fraction of a percentage point below Kono. Fumio Kishida, the former chairman of the LDP's Policy Research Council, who has announced his candidacy, placed third at 13%, while Prime Minister Yoshihide Suga came in fourth at 11%. The LDP presidential election will take place as Suga's tenure as president ends. Campaigning for the election will officially begin on Sept. 17, and balloting and vote counting will be conducted on Sept. 29. Under Japan's parliamentary cabinet system, if the president of the LDP, the largest party in the Diet, is replaced, the prime minister will also be replaced. Suga's approval rating remains low mainly because of his handling of the coronavirus pandemic, but the prime minister has expressed his intention to seek re-election as president.
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ASEAN on guard for extremism inspired by Taliban's Afghan triumph

The Taliban's return in Afghanistan has issued a wake-up call thousands of kilometers away in Southeast Asia, home to millions of Muslims. Policymakers, security officials and experts in Association of Southeast Asian Nations states are wary that the Islamist group's triumph will inspire religious extremism close to home, while also bracing for a potential influx of refugees. "I assure the public that the police and military will not allow a spill over of the Afghan conflict," the Philippines' police chief, Gen. Guillermo Eleazar, said last week in an immediate reaction to concerns over Taliban-inspired terrorism in the country. Southeast Asia's Muslim-majority nations include Indonesia, Malaysia and Brunei, while smaller Muslim communities are scattered across the region, including in southern Thailand and the southern Philippines. Preventing the spread of extremism has long been a top ASEAN priority. Earlier this month, the bloc's foreign ministers agreed on "the importance of a collective and comprehensive approach to address terrorism and violent extremism conducive to terrorism and radicalization."
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Taiwan says security talks with Japan focused on TSMC investment

Security talks between Taipei and Tokyo on Aug 27 were focused on Taiwan Semiconductor Manufacturing Co.'s planned investment in Japan and future collaboration on the chip supply chain, a key lawmaker in Taiwan's ruling party said. The comments were made at the first ever regional security dialogue between the ruling parties of Taiwan and Japan -- a meeting, already condemned by Beijing that comes amid growing Chinese aggression in the region. "Collaboration on the semiconductor industry was one of the key focuses of the talks," Lo Chih-cheng, of Taiwan's Democratic Progressive Party, told reporters after the closed-door online meeting. "We talked about how to help and facilitate TSMC and other key companies' investments there. "TSMC, the world's biggest contract chipmaker, is finalizing plans to build its first chip facility in Japan, the Nikkei Asia first reported in July. Lo said another key focus is on Taiwan's desire to participate in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The Japanese representatives voiced their support and said they would help Taiwan join the 11-nation regional trade agreement.
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China mobilizes civilian ferries for Taiwan invasion drills

China's long-standing threats to invade Taiwan would require the biggest amphibious invasion in human history -- and analysts say recent military activities, including exercises using commercial ferries, appear designed to practice exactly that. One of the most-discussed missing pieces to the puzzle for planners in Beijing is amphibious lift capability -- the ability to move equipment and personnel across the Taiwan Strait and unload off the main island's rugged coast. The April 23 commissioning of China's first Yushen-class landing helicopter assault ship is a big step in that direction -- the small-scale aircraft carrier can transport helicopters, hovercraft and armoured amphibious assault vehicles. Another Yushen-class ship was launched in January and is currently undergoing sea trials, while new vessels are being constructed around the rate of one every six months. But the ongoing expansion of China's amphibious lift capability is not limited solely to naval vessels. Large ferries recruited from China's civilian fleet were used in naval exercises held both last summer and in July, suggesting that Beijing could use non-military vessels to leapfrog its current amphibious transport bottleneck.
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Harris says she urged Vietnam to free political dissidents

U.S. Vice President Kamala Harris said Aug 26 she raised issues of human rights abuses and restrictions on political activism in her conversations with Vietnamese leaders this week but offered no indication those talks bore fruit. “We’re not going to shy away from difficult conversations. Difficult conversations often must be had with the people that you otherwise may have a partnership with,” she said at a news conference in Hanoi on Aug 26.Harris said she spoke with Vietnamese leaders in particular about the release of political dissidents but did not describe the outcome of those conversations. Vietnam has faced criticism for restrictions on freedom of expression and on the press and a crackdown on people it deems political dissidents. But Harris didn’t respond when asked why the U.S. criticizes China for similar abuses but is seeking a stronger partnership with Vietnam. Her comments capped a weeklong trip to Southeast Asia during which she met with top officials in Singapore and Vietnam in a bid to strengthen U.S. engagement in the region to counter Chinese influence there. Harris unveiled a number of new U.S. agreements and aid for both countries.
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IAEA: North Korea appears to have resumed nuke reactor operation

North Korea appears to have restarted the operation of its main nuclear reactor used to produce weapons fuels, the U.N. atomic agency said, as the North openly threatens to enlarge its nuclear arsenal amid long-dormant nuclear diplomacy with the United States.The annual report by the International Atomic Energy Agency refers to a 5-megawatt reactor at the North’s main nuclear complex in Yongbyon, north of Pyongyang. The reactor produces plutonium, one of the two key ingredients used to build nuclear weapons along with highly enriched uranium. “Since early July 2021, there have been indications, including the discharge of cooling water, consistent with the operation of the reactor,” said the IAEA report dated Aug 27.The report said there were indications of the operation of Yonbyon’s radiochemical laboratory from mid-February to early July this year. It said this period of operation is consistent with previous reprocessing campaigns announced by North Korea of irradiated fuel discharged from the reactor. The IAEA has not had access to Yongbyon or other locations in North Korea since the country kicked out IAEA inspectors in 2009. The agency said it uses satellite imagery and open-source information to monitor developments in North Korea’s nuclear program.
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Israel’s Bennett Presses Biden Over Iran Nuclear Deal

Israeli Prime Minister Naftali Bennett met President Biden at the White House for the first time since taking office and pressed the U.S. to back off reviving the Iranian nuclear accord while invoking the long ties between the nations and the persistent threat of terrorism.“These very days illustrate what the world would look like if a radical Islamic regime acquired a nuclear weapon—that marriage would be a nuclear nightmare for the entire world,” Mr. Bennett said, sitting next to Mr. Biden a day after the attack in Kabul that took the lives of 13 U.S. service members and dozens of Afghans. While Mr. Biden made clear Aug 27 he intends to continue to pursue a deal with Iran, he said there are other options if diplomacy fails, without elaborating. Mr. Bennett said he presented an alternative plan to contain Israel’s adversary.“The first goal is to stop Iran on its regional aggression and start rolling them back into the box,” he said. “And the second is to permanently keep Iran away from ever being able to break out the nuclear weapon.”
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Duterte vs Duterte showdown flips the script in Philippines

With 2022 elections on the horizon, Philippine President Rodrigo Duterte’s ruling coalition is in disarray as competing factions unabashedly jockey for position to take Malacañang Palace. In the biggest plot twist, President Duterte and Davao City Mayor Sara Duterte, earlier slated to run as a daughter-father Duterte-Duterte duo, have apparently parted political ways and could now go head-to-head on competing tickets. The ruling Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) party is now split between supporters of the president, who have endorsed Duterte’s controversial vice-presidential bid next year, which will effectively allow him to elude constitutional term limits, and its “original” members led by boxer-turned-politician Emmanuel “Manny” Pacquiao, who is eying the presidency himself. Shortly before Pacquiao’s return to Manila following his latest professional bout in Las Vegas, his supporters pressed ahead with a plot to unseat Duterte from the ruling party’s leadership. At the same time, Sara Duterte openly lashed out at her father’s plans to ditch her and run instead with his long-time aide, Senator Christopher “Bong” Go.
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Is Nigeria’s kidnapping crisis out of control?

Nigeria’s government is struggling to tackle criminal gangs who have stepped up concerted attacks against village communities, schools, and colleges in northern states over the last eight months. Gang members popularly characterised as ‘bandits’ have kidnapped more than 1,000 students alone since they began abducting civilians for ransom payments in greater numbers in December. While some children and young adults have been freed through mediation, in many cases families and school administrators have paid the attackers to secure their release. In one recent incident, kidnappers looking for ransom seized the negotiator sent to deliver payment. Security analysts say many of the gang members are allied with either ethnic Fulani herders or ethnic Hausa farmers who have fought each other for dwindling natural resources. The gangs have launched increasingly bold attacks as central and state authorities try to tackle them. In an unexpected raid on an elite military academy in Kaduna on August 24, suspected gang members killed two officers and kidnapped another.
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Medical

Moderna vaccine production continues in EU amid contamination probe

Production of Moderna COVID-19 vaccines at a plant in Spain can continue, the European Union drugs regulator said on Aug 27, while it carries out its investigation of a suspected metallic contamination incident. Japan on Aug 26 suspended the use of 1.63 million doses shipped to 863 vaccination centres nationwide, more than a week after the domestic distributor, Takeda Pharmaceutical, received reports of contaminants in some vials. The contaminant found in a batch delivered to Japan is believed to be a metallic particle, Japanese public broadcaster NHK reported, citing health ministry sources. The European Union drugs regulator said it was investigating the incident at the Spanish plant run by Rovi but did not find reasons to seek a temporary suspension of production after an initial assessment."COVID-19 vaccine production in Rovi is able to continue, following a preliminary risk assessment," the European Medicines Agency told Reuters in a statement.
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Coronavirus pandemic contributing to ‘myopia boom’ among Hong Kong children, study finds

The percentage of Hong Kong children who develop nearsightedness has increased an estimated 2½ times during the coronavirus pandemic, according to a study, which has attributed the “myopia boom” to students spending less time outdoors and more staring at screens. The Chinese University study, which was released on Aug 30, found schoolchildren spent an average of almost seven hours a day looking at screens during the pandemic, around four hours more than before. At the same time, the average amount of time spent outdoors dropped from 1.27 hours a day to just 24 minutes. The study’s principal investigator, Dr Jason Yam Cheuk-sing of the department of ophthalmology and visual sciences, said insufficient outdoor activities coupled with prolonged stretches of so-called near work – which included reading, writing and using electronic gadgets – corresponded with myopia progression. “Therefore, unfortunately, our study reflects that myopia in Hong Kong’s schoolchildren has begun to boom,” Yam told a press conference on Aug 30.
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World passes the threshold of 4.5m Covid deaths

The world has passed the grim threshold of 4.5 million Covid-19 deaths, according to an AFP tally on Aug 30, as the virulent Delta variant wreaks havoc globally. Since the outbreak emerged in China in December 2019, the virus has killed a total of 4,500,620 people, the tally of official sources revealed. Some 10,000 deaths are reported every day in the world, a much lower figure than the highs of January when an average of 14,800 people were being killed daily. But the figure is much higher than at the start of July when some 7,800 daily deaths were registered. The pandemic has already claimed more deaths in 2021 than in 2020, with more than 2.6 million fatalities officially reported since January against just under 1.9 million over the whole of last year. Countries around the world are hoping the vaccines will ease the spread of the virus, but there are huge disparities between rich and poor nations. Just seven doses were administered per 100 people in Africa, against 99 in Europe and 111 in the United States.
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