World

Chinese city on Myanmar border reports three more COVID-19 cases
8Jul By Desk TeamNo Comments
World

Chinese city on Myanmar border reports three more COVID-19 cases

SHANGHAI: Authorities in China's southwestern province of Yunnan reported three locally transmitted coronavirus cases for Monday (Jul 5), with all cases from the city of Ruili bordering Myanmar, according to Yunnan provincial authorities on Tuesday. Yunnan province had reported three locally transmitted coronavirus cases the previous day as well, and is preventing individuals from leaving or entering Ruili city without special permission beginning from Jul 5. The last outbreak of local cases in China was in the southern Guangdong province in mid-June. Ruili is a major crossing point from Muse in neighbouring Myanmar, which has seen escalating unrest since a Feb 1 military coup, raising fears that people will try to flood across the border into China to escape the violence. China cl...
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3. Pakistan undergoes gas crises, CNG supplies halted
1Jul By Online DeskNo Comments
World

3. Pakistan undergoes gas crises, CNG supplies halted

Two state owned companies of Pakistan have announced complete shut down because of which country will undergo serious gas shortage till July 5 CNG stations in Sindh were to open from June 28 after the closure on June 22, but Sui Southern Gas Company Limited (SSGCL) stopped supplies to them till July 5 in view of the lingering shortfall of 160mmcfd due to annual turnaround of Kunnar Pasakhi Deep (KPD) gas field, causing a decline in gas availability and resulting in depletion of line pack and low pressure in the system. Sui Northern Gas Pipelines Limited (SNGPL) completely stopped gas supply to three sectors — cement, CNG (compressed natural gas) stations and non-export industry — in Punjab and Khyber Pakhtunkhwa till July 5 due to dry docking of LNG terminal. Energy Minister Hamm...
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29Jun By Online DeskNo Comments
Asia, World

Doctor of Osama Bin Laden lost in Pakistan’s jail

The doctor who worked for Osama Bin Laden and then was under the custody of U.S. troops is now lost in the overly populated jails of Pakistan. The family of the doctor, Shakil Afridi is allowed to meet him twice a year, this year they once met in January, now they are waiting for their 2nd chance to meet. The family is suspecting that the dr. has got the coronavirus infection in the prison as the jail inspector is not telling them the reason od the denial of their application to meet. . The depiction is based on the last time Shakil was permitted to meet with his immediate family in prison, which was in January. “Last year, jail authorities had only allowed wife Amna Ghafoor along with their children to meet the doctor twice, given that the outbreak of Covid-19 has reduced mee...
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Lahore HC orders Pakistan government to recover unlawful gains from oil marketing companies amid 2020 petrol crisis
28Jun By Online DeskNo Comments
Asia, World

Lahore HC orders Pakistan government to recover unlawful gains from oil marketing companies amid 2020 petrol crisis

Lahore, Pakistan: Pakistan faced petrol crises in 2020 which was artificially created by big oil marketing companies. Because o the crises, the oil prices increased, The Lahore High Court (LHC) on Friday ordered the Pakistan government to take steps for the recovery of illegal gains by the companies. LHC Chief Justice Muhammad Qasim Khan ordered the government to take steps for audit of all OMCs. He also ordered the government to form a committee for recovery of unlawful gains from OMCs, reported Geo News. The court directed authorities to take legal action against those found responsible for creating an artificial shortage. The LHC was seized with a case about petrol shortage in the country in June 2020 after petrol prices dropped sharply and oil companies attempted to record in...
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Commentary: The merits of Singapore’s new carbon trading marketplace
18Jun By Desk TeamNo Comments
Asia, Market, World

Commentary: The merits of Singapore’s new carbon trading marketplace

Climate Impact X is a welcome addition to the country’s climate action initiatives that provide new economic opportunities, help price discovery and can aid future compliance, say energy researchers. SINGAPORE: Singapore took another big step in advancing the green agenda last month. The country on May 20 announced plans to position itself as a hub for carbon services. Climate Impact X (CIX) is a joint venture between the Development Bank of Singapore, Singapore Exchange, Standard Chartered Bank and Temasek Holdings. First envisioned by the Emerging Stronger Taskforce’s Alliance for Action on Sustainability, CIX will provide a marketplace for trading carbon credits commencing in late 2021. Singapore is well-suited to hosting a carbon marketplace. It is an ideal base for multinatio...
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Samsung boss could be set free by one of his biggest critics, Moon Jae-in
18Jun By Desk TeamNo Comments
Market, World

Samsung boss could be set free by one of his biggest critics, Moon Jae-in

For most of Moon Jae-in’s presidency, the prosecution of Samsung Group’s de facto leader was the clearest evidence he could cite to show South Korea was rolling back preferential treatment for the country’s powerful tycoon class. Now, he’s considering whether to free Jay Y. Lee from jail in a decision that could shape his final year in office. The dramatic reversal reflects South Korea’s claustrophobic politics, where government leaders and big business are so dependent on each other that favoritism can trump the law. Polls show almost seven in 10 South Koreans now support a pardon for the vice chairman of Samsung Electronics Co. as the country tries to navigate an end to the coronavirus pandemic and a crisis in the crucial semiconductor industry. Lee, 52, was convicted of using bribery ...
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Asia’s factories sustain expansion, supply chain woes cloud outlook
18Jun By Desk TeamNo Comments
Asia, China, Market, World

Asia’s factories sustain expansion, supply chain woes cloud outlook

Asia's factory activity continued to expand in May thanks to an ongoing recovery in global demand, surveys showed on Tuesday, though rising raw material costs and supply chain constraints clouded the outlook. TOKYO: Asia's factory activity continued to expand in May thanks to an ongoing recovery in global demand, surveys showed on Tuesday, though rising raw material costs and supply chain constraints clouded the outlook. A spike in COVID-19 infections in countries like Taiwan and Vietnam could disrupt semiconductor output and supply chains, posing a headache for manufacturers and weighing on Asia's export-driven recovery, analysts say. Japan and South Korea saw an expansion in factory activity moderate in May, purchasing managers' indexes (PMI) showed on Tuesday, underscoring the fr...
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HK’s Next Digital shares soar as trading resumes after Jimmy Lai assets frozen
18Jun By Desk TeamNo Comments
China, Market, World

HK’s Next Digital shares soar as trading resumes after Jimmy Lai assets frozen

Shares of tycoon Jimmy Lai's Next Digital Ltd were set to surge 142per cent on resumption of trade on Thursday, a week after authorities froze assets of its jailed owner under a sweeping national security law imposed on the financial hub by Beijing. HONG KONG -Shares in jailed tycoon Jimmy Lai's Next Digital Ltd soared on Thursday, the first day of trading after a suspension of longer than a week following a freeze in the pro-democracy activist's assets under the national security law. In a late Wednesday statement, the media publisher said it had enough working capital for at least 18 months from April 1 without additional funding from Lai, its controlling shareholder. Shares opened 141.9per cent higher at HKUS$0.45, the highest since December 2020, when Lai was charged under the s...
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Commentary: Targeted travel restrictions needed but careful not to undermine Changi Airport’s connectivity
18Jun By Desk TeamNo Comments
Asia, China, Market, World

Commentary: Targeted travel restrictions needed but careful not to undermine Changi Airport’s connectivity

A handful of netizens have been calling for the aviation hub to close its doors to the world after a COVID-19 cluster there but IPS’ Faizal Yahya says be careful what you ask for. SINGAPORE: The recent wave of infections in Singapore, which included a COVID-19 cluster at Changi Airport last month, has prompted some calls for the suspension of passenger travel at the airport altogether. While many have called for an earlier tightening of restrictions of travel from certain places with surges in infections, which are reasonable, worryingly, there are some who have commented that Changi should also have been closed to inbound travelers to protect Singapore from bringing in COVID-19 cases into the country. “Can’t they just close the border for 14 days?” asked one. “How about a complet...
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Commentary: Why are the major G7 economies delaying a break with the fossil fuel industry?
18Jun By Desk TeamNo Comments
China, Market, World

Commentary: Why are the major G7 economies delaying a break with the fossil fuel industry?

As long as fossil fuels remain profitable, governments are in an awkward position, say business lecturers. CARDIFF, Wales: The climate crisis was a hot topic at the G7 summit in Cornwall. Yet while the leaders of the world’s richest countries agree in theory on the need to reach net zero emissions by 2050 at the latest, they remain faithful to a fossil fuel industry reluctant to substantively change its business model. A recent report by the International Energy Agency, a typically conservative advisory body, argued for an immediate ban on new fossil fuel projects. But investments by oil, gas and coal companies into finding new sources continue, as does industry lobbying to undermine regulation. The environment ministers of the G7 countries committed to end funding for new overseas...
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