Taiwan has accelerated investment diversification away from mainland China, placing an emphasis on managing exposure to its largest export and investment destination amid ongoing cross-strait tensions and changes to the global supply chain.Investment in mainland China dropped by 14.5 per cent from a year earlier to US$4.79 billion in the first 11 months of 2021, according to data from Taiwan’s Ministry of Economic Affairs.Investment from mainland China dropped by 62.9 per cent year-on-year to…
MH17 flight: Dutch prosecutors call for life sentences for suspects in downing of Malaysia Airlines passenger plane
Dutch prosecutors on Wednesday called for life in prison for four suspects on trial in absentia accused of downing Malaysia Airlines flight MH17 over Ukraine with a surface-to-air missile, killing 298 people.The ill-fated flight heading for Kuala Lumpur took off from Amsterdam’s Schiphol airport in July 2014, and prosecutors this week launched closing arguments in the closely watched trial.A verdict is not expected until late 2022 at the earliest.The four suspects on trial are Russian nationals…
Reforms to insolvency regulation in Britain proposed
An overhaul of the way insolvency practice is regulated in Britain has been proposed by the UK government, including plans to bring businesses offering insolvency services within the scope of regulation for the first time.
Coronavirus: in Thailand and Singapore, Omicron hits Asia’s nascent tourism revival
When Thailand first announced its quarantine-free programme – the “Phuket Sandbox” – for foreign tourists in July, Pattaya-based travel operator Bee (not her real name) felt relieved that her business was slowly being brought to life.She soon started getting hotel bookings from Russian and Central Asian travellers who were interested in the “sandbox” initiative, which is open to all jabbed guests who must remain in a specific city or province for seven days before travelling to elsewhere and…
Japan agrees to pay US$9.33 billion for upkeep of US forces over five years to 2026
Japan has agreed with the United States to pay 1.06 trillion yen (US$9.33 billion) to share the upkeep of US forces stationed in Japan over five years from next April, Foreign Minister Yoshimasa Hayashi said on Tuesday.That amounts to 211 billion yen a year, up from 201.7 billion yen for the current year ending March 2022.About 54,000 US military personnel are stationed in Japan.“With the security environment surrounding Japan getting tougher, we have been negotiating (with the US) to support…
Overhaul of UK financial promotions exemption regime proposed
The UK government has proposed changes to the regime which gives high-net worth individuals (HNWIs) and sophisticated investors an exemption from restrictions on financial promotions.
As Philippines mops up from Typhoon Rai, government response could become an election issue
A terrifying video of a sports stadium sheltering evacuees in the plush southern Philippine island resort of Siargao being ripped apart by the winds was the first indication to the rest of the country that Typhoon Rai was a super typhoon that had just stolen Christmas.As of December 21, the storm had killed at least 375 people, injured 500, displaced nearly 2.3 million in 33 of the country’s 81 provinces, wreaked billions of pesos worth of property and crop damage, and possibly affected the…
US announces new ‘special coordinator for Tibetan issues’
The United States named a new “special coordinator for Tibetan Issues” on Monday, who will be tasked with restarting dialogue between the Dalai Lama and China, as well as promoting “respect for the human rights” of Tibetans.By assigning the role to a high-ranking official – Under Secretary Uzra Zeya – the Biden administration was showing its commitment to addressing Tibetan issues, Secretary of State Antony Blinken said in an announcement.While continuing to serve in her current role, Zeya will…
Malaysian PM Ismail Sabri Yaakob’s government under fire over slow response to worst floods in recent memory
The Malaysian government is facing public pressure over its initially languid response to the country’s worst floods in recent memory, with ordinary citizens and activists stepping in to provide aid as the number of people displaced by the disaster rose above 60,000.Tens of thousands of people have been rescued by civilian volunteers as well as the army, police and other government agencies since the floods began on Friday.Local media said at least 10 people have died, with eight reported…
Industrialised construction
The industrialisation of construction processes has the potential to improve productivity and profit margins, attract the talent needed to innovate and achieve decarbonisation.