Asia

COVID-19 pandemic relapse spells trouble for India’s middle class
16Jun By Desk TeamNo Comments
Asia, Market, USA, World

COVID-19 pandemic relapse spells trouble for India’s middle class

NEW DELHI: Ram Babu moved from his village to the Indian capital New Delhi in 1980, to clean cars. Soon, he learned to drive and got a job as a tour bus driver. Decades later, he set up his own company, Madhubani Tours and Travels. In March 2020, a stringent nationwide lockdown to fight the coronavirus pandemic froze economic activity overnight. Babu's business collapsed, and he drove his family back to their village. “Since March last year, we haven’t earned a single rupee,” he said. “All of my three buses are standing still for more than a year. We are completely broken.” India’s economy was on the cusp of recovery from the first pandemic shock when a new wave of infections swept the country, infecting millions, killing hundreds of thousands and forcing many people to stay home. C...
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Why France is a welcome security partner for Japan
16Jun By Desk TeamNo Comments
Asia, China, Market, USA, World

Why France is a welcome security partner for Japan

This past week, French forces joined the Japan Self-Defense Force, Australian Defence Force and U.S. military for a multilateral amphibious exercise in Camp Ainoura, Sasebo. This marks the first time French ground forces have trained on Japanese soil in the postwar era. This training comes on the heels of two French naval vessels that made port in Kochi last month, en route to a joint maritime exercise with members of the so-called “Quad” (Australia, India, Japan and the United States). These activities are representative of the steps Japan is taking to diversify its portfolio of security partners, but many outside observers may now be asking the blunt but obvious question: Why France? Certainly, partnering with countries such as Australia and India makes sense given the centrality of J...
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1,000-year-old ‘stolen’ artefacts to return to Thailand from US
15Jun By Desk TeamNo Comments
Asia, World

1,000-year-old ‘stolen’ artefacts to return to Thailand from US

BANGKOK: Two ancient sandstone artefacts believed to have been stolen from Thailand during the Vietnam War are set to return from the United States Friday (May 28) night, officials say. The temple support beams with their exquisite carvings of the Hindu deities Indra and Yama date back to the late 10th or 11th century and had been on show for decades at the San Francisco Asian Art Museum. They are expected to touch down in Bangkok on Friday night and will be put on display at the National Museum for three months from Tuesday, following a special ceremony. Thai Fine Arts Department Director General Prateep Pengtako said the two lintels are about 1,000 years old and show the influence of the ancient Khmer Kingdom, which had its capital in modern-day Cambodia. "Lintels are part of the...
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Returning Singaporeans, PRs will need to test negative for COVID-19 within 72 hours before departure
15Jun By Desk TeamNo Comments
Asia, China, World

Returning Singaporeans, PRs will need to test negative for COVID-19 within 72 hours before departure

SINGAPORE: Singaporeans and permanent residents will soon be required to present a valid negative COVID-19 polymerase chain reaction (PCR) test taken within 72 hours before they depart for Singapore, said the Ministry of Health (MOH) on Wednesday (May 26). From 11.59pm on May 29, all Singaporeans and permanent residents, except those who have stayed in lower-risk countries and regions in the last 21 days before departure to Singapore, will have to present the negative test result. Only then will they be allowed to board their flight or ferry to Singapore, said MOH. The lower-risk countries and regions are Australia, Brunei, mainland China, New Zealand, Hong Kong and Macau. "All travellers will also be required to present their valid COVID-19 PCR test result at the air, sea and l...
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China’s exports up 28%, imports hit decade-high
15Jun By Desk TeamNo Comments
Asia, China, Market, World

China’s exports up 28%, imports hit decade-high

BEIJING: China's exports rose 27.9 per cent in May while imports grew at the fastest pace in more than a decade as the global economy powers back from the COVID-19 crisis, official data showed on Monday (Jun 7). Demand for China's goods has bounced after economically painful lockdowns last year due to the pandemic, and as vaccines are rolled out across much of the world. The figures are also boosted by last year's low base of comparison when the coronavirus was spreading rapidly. Exports from the world's second-largest economy posted strong growth but came in lower than expectations of 32 per cent. "To be honest, that is a cracking number by anybody's standard and shows that global demand remains robust," said OANDA's Jeffrey Halley. In May, import growth hit its highest rate sinc...
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EU to impose new sanctions on Myanmar junta, companies
14Jun By Desk TeamNo Comments
Asia, World

EU to impose new sanctions on Myanmar junta, companies

JAKARTA: The EU will impose a new round of sanctions on Myanmar's military junta and its economic interests in the coming days, EU foreign affairs chief Josep Borrell told Reuters on Thursday (Jun 3). In an interview in Jakarta after meetings with Southeast Asian diplomats, Borrell said the fresh sanctions from the EU would be the third batch introduced since the military ousted Myanmar's democratically-elected government on Feb 1. "There is a third row of sanctions in preparation that will be approved (in) the coming days (targeting) personnel of the military junta and also the entity that represents the economic interests of the military," he said. Since the coup, EU sanctions have frozen assets or applied travel bans on 21 military and civilian members of Myanmar's junta. Europea...
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Searches for crypto exchanges currently blocked in China
14Jun mmBy Joe RodriguezNo Comments
Asia, China, Market

Searches for crypto exchanges currently blocked in China

The Chinese government has possibly censored the internt as users are unable to search for popular crypto exchanges.Keywords searches for online trading platforms including Binance, OKEx and Huobi on popular internet services such as Baidu, Sogo, Zhihu, or Weibo are yielding no results. Other media outlets including CoinDesk first reported the possible blockage.The Chinese government has recently renewed a regulatory crackdown on crypto mining and trading, helping send Bitcoin down about 45% since its peak in April.The exchanges that appear to be impacted are some of the largest in the digital-asset world, with Asia-based users being among the earliest adopters. Binance is the world’s biggest crypto platform, with $30 billion in trading volume in the last 24 hours, according to CoinMarket...
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Oil steadies after sell-off as US stockpiles rise less than expected
14Jun By Desk TeamNo Comments
Asia, Market, World

Oil steadies after sell-off as US stockpiles rise less than expected

Oil prices fell on Thursday after a slump in the previous session, as rising U.S. stockpiles added to concerns about a hit to demand from surging coronavirus infections in Asia and possible U.S. rate hikes. TOKYO -Oil prices steadied on Thursday after a two-day slump, reflecting the world's mixed economic recovery from the pandemic, with U.S. demand expected to keep rising, while a second coronavirus wave raging in India has led to more curbs on movement. Brent crude was up 18 cents, or 0.3per cent, at US$66.84 a barrel by 0527 GMT, having fallen 3per cent on Wednesday. U.S. oil gained 37 cents, or 0.6per cent, to US$63.73 a barrel, after a 3.3per cent drop in the previous session. "U.S. gasoline demand is holding up well ahead of the driving season," ANZ Research said in a note. Al...
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Is bone-breaking surgery to grow taller worth the risk?
13Jun By Desk TeamNo Comments
Asia, World

Is bone-breaking surgery to grow taller worth the risk?

Limb-lengthening surgery for cosmetic reasons is in demand in India, but it does not always end well, the programme Undercover Asia finds out. DELHI: Hoping to propel his career to greater heights, sales consultant Amit (not his real name) underwent surgery to break his bones and make himself taller. At 1.6 metres, he felt everyone towered over him. With a new job in the United States lined up, he decided to take his chances with orthopaedic surgeon and height-gain specialist Amar Sarin. “There are moments when you feel that there’s no need, and why do you go through all the hassle?” said Amit, 36, who did not want to be identified. “Maybe I’m right, maybe I’m wrong … time will tell. But for your own self-confidence, I think a couple of centimetres shouldn’t hurt.” He had wires in...
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China touts success building a Tibet less focused on religion
13Jun By Desk TeamNo Comments
Asia, China, USA, World

China touts success building a Tibet less focused on religion

China’s top leader in Tibet lauded the progress his country has made developing the region, touting an ethnic-assimilation campaign that has fueled international accusations of human rights abuses. “More and more believers have been trained from pursuing a good afterlife to living a good life in this life, and religion has been increasingly compatible with a socialist society,” Wu Yingjie, the Communist Party chief of Tibet, said at a press briefing in Beijing on Saturday. Wu also listed a wide array of ways the ruling party has transformed the region where most people are Buddhist — from building schools and paved roads to improvements in health care — as China marks the 70th anniversary on Sunday of an agreement giving it control of the region. The event puts a renewed focus on Tibet ...
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