A Hong Kong court ordered the liquidation of China Evergrande Group on Monday (Jan 29). Evergrande is the world’s most indebted real estate developer and has been at the centre of an unprecedented liquidity crisis in China’s property sector, which accounts for roughly a quarter of the world’s second-largest economy.Continue Reading
MID-TERM ELECTIONS LOOM He spoke just before Marcos took the stage at a government-led rally in the capital to drum up support for his “Bagong Pilipinas (New Philippines)” campaign, where he has promised to improve state services and budget transparency. Marcos’ alliance with the Dutertes was crucial to his presidentialContinue Reading
Last week, the North said it had tested a new strategic cruise missile, implying it was designed to carry a nuclear warhead, but at the time did not mention it was being developed for submarine launch. State media photographs published on Monday showed a missile launching into a cloudy skyContinue Reading
BEIJING: The Chinese coastguard said it had made “temporary special arrangements” to allow the Philippines to deliver supplies to troops at a grounded World War Two-era vessel at a disputed reef. The Chinese coastguard has previously deployed vessels to block missions by the Philippines to supply troops on the transportContinue Reading
DUBAI: Iran’s hardline Guardian Council has banned former pragmatist president Hassan Rouhani from standing again in an election in March for the Assembly of Experts, which appoints and can dismiss the supreme leader, state media said on Wednesday (Jan 24). The 88-member assembly, founded in 1982, supervises the most powerfulContinue Reading
KUALA LUMPUR: Malaysia will set up a royal commission of inquiry to study the handling of cases involving three disputed islets in the Singapore Strait, the Cabinet said on Wednesday (Jan 24). Prime Minister Anwar Ibrahim had previously called for a review of a 2018 decision by Malaysia – underContinue Reading
The latest decision is “another step in the right direction, but monetary policy by itself is not enough to boost economic momentum”, Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, told AFP. “A more proactive fiscal stance focusing on consumption is more important and effective,” said Zhang. “TheContinue Reading
SEOUL: North Korea is developing artificial intelligence (AI) and machine learning for everything from how to respond to COVID-19 and safeguard nuclear reactors to wargaming simulations and government surveillance, according to a new study. International sanctions imposed over its nuclear weapons program may have hindered North Korea’s attempts to secureContinue Reading
Submitting evidence for the case in December, Pita told reporters outside court he was “confident” he would receive justice. He reiterated in an interview with AFP late last year that he would take another tilt at the premiership, saying he was “not giving up”. The Constitutional Court case revolves aroundContinue Reading
COLOMBO: Sri Lanka’s lawmakers are set to vote on a social media regulation bill on Wednesday (Jan 24) which opposition politicians and activists allege will muzzle free speech. The Online Safety Bill proposes jail terms for content that a five-member commission considers illegal and make social media platforms such asContinue Reading