It’s a pity that current NATO leaders are so short-sighted that they don’t seem to consider the long-term consequences of their current policies. It’s not clear whether the US administration has a long-term strategy on the Russia-Ukraine conflict. One big problem with using a war or economic substitutes for a war as a policy tool is that it may lead to terrible and unpredictable outcomes. I hope it is not too late, but only if Russia and Ukraine both are confident that their security and development are safeguarded can there be sustainable peace in Europe. In fact, the key goal…
Author: Asia News Network
Initial public offerings (IPO) hovered at high levels last year, but since the start of this year, many firms have either cancelled or postponed planned listings and there have been moves to suspend bond issues. With investors less willing to take risks amid a fall in stock prices triggered by the Ukraine crisis, among other factors, stagnating finances could deliver a blow to the global economy, which is still reeling from the Covid-19 pandemic. According to the Tokyo Stock Exchange (TSE), six companies have cancelled or postponed IPOs this year, the same number of such withdrawals in the whole of…
The Asian Development Bank (ADB) on March 18 said it would help Indonesia develop the new capital city project in East Kalimantan, following the appointment of a former ADB vice-president as an overseer of the project. The help will comprise designing the city, assessing potential environmental and social impacts and mobilising financing from the public and private sector to support the development, said the lender in a statement. “ADB looks forward to helping plan for the historic relocation of Indonesia’s capital from Jakarta to Nusantara,” said ADB vice-president for East Asia, Southeast Asia and the Pacific Ahmed M Saeed. The…
Vietnam’s PV Power (POW) has announced approval for a plan to transfer its shares in EVN International JSC (EIC). Accordingly, PV Power plans to divest more than 2.8 million EIC shares, equivalent to 7.85 per cent of capital. The transaction is expected to be done by order matching method on the Hanoi Stock Exchange (HNX). EVN International operates in the field of electricity generation and distribution. In the shareholder structure of EVN International, Power Generation Corporation 1 is the largest shareholder holding more than 26 per cent of capital, while Pha Lai Thermal Power JSC is the second-largest shareholder with…
Member countries at the latest meeting of the Asia Pacific Economic Cooperation (APEC) expressed concern that the fluctuating price of oil will worsen the inflation crisis. The concern over inflation was voiced at the two-day Finance and Central Bank Deputies’ Meeting (FCBDM) of APEC nations held last week, said Krisada Chinavicharana, permanent secretary of the Thai finance ministry, which hosted the meeting. Thailand holds the rotating chair of the APEC trade bloc this year. During the meeting, participants expressed worry that the rising oil price would add more pressure to inflation and fiscal policies of APEC members’ governments. Participants agreed…
The Vietnamese Ministry of Industry and Trade (MoIT) has said the Vietnam Coal and Mineral Industries Group (Vinacomin) and Dong Bac Corp must immediately implement measures to ensure coal production capacity for thermal power plants. MoIT said in its Document No 1225/BCT-DK that in accordance with signed coal sale and supply contracts, especially build-operate-transfer (BOT) thermal power plants using domestic coal to avoid compensation for stopping thermal plants, the groups must keep production as committed in the signed contracts. The MoIT also requested Vietnam Electricity (EVN) to direct the National Load Dispatch Centre (A0) to have a dispatch solution, notify…
Climate change is causing our global temperatures to rise, putting our most visible sources of water at risk. From Spain to parts of the African continent, droughts are being experienced at unprecedented levels. The perils of climate change are also threatening the region’s water security. Southeast Asia is one of the regions projected to be most affected by climate change. Closer to home, almost 10 per cent of Indonesia is expected to experience a water crisis by 2045, with Java – the country’s most populous island, already feeling the effects of a water shortage as the nation experiences more droughts.…
Health authorities have drawn up new plans to ensure that the Covid-19 vaccination drive would continue as they expect it to slow down once the election campaigns for local posts start next week. Dr Kezia Rosario, co-leader of the National Vaccination Operations Centre (NVOC), said there should be no letup in the mass inoculation even during the election period leading to the May 9 polls to prevent coronavirus infections from increasing. The campaign for local positions will kick off on March 25 and local officials could be preoccupied with courting voters. The campaign period for national posts opened earlier, on…
Prime Minister Ismail Sabri Yaakob has denied that the government had failed to revive the economy following the Covid-19 pandemic. He said Malaysia’s positive economic performance in 2021 shows that the country was projected to achieve the targets set for this year. Ismail Sabri said based on reports by the Department of Statistics Malaysia and Bank Negara, the country’s economy grew by 3.1 per cent in 2021 compared with a contraction of 5.6 per cent in 2020. “Many assume that we have failed to revive the economy. In fact, we have already succeeded in reviving the economy. In terms of…
Vietnamese rice exports have been increasing significantly in the first months of 2022, signalling a favourable year for the country’s produce. Data from the General Department of Vietnam Customs (GDVC) showed that the country exported 974,556 tonnes of rice worth nearly $469.26 million in the first two months of the year, up 48.6 per cent and 30.6 per cent against the same period last year, respectively. Vietnam’s largest rice export market during the period was the Philippines, with the exports to the country rising by 110 per cent in volume and 82 per cent in value. It was followed by…