‘Ineffective’ generic drugs fuel rare public anger in China

20 hours ago
Koh Ewe

BBC News

Getty Images A nurse in Nanchang, Jiangxi Province, China, May 2024Getty Images

The government has a unique response to the public’s concern in China over issues raised by physicians that generic medications used in public hospitals are extremely inefficient.

Specialists say they believe the government’s drug procurement method, which incentivises the use of cheap generic drugs over unique brand-name medicine, has led to costs being cut at the cost of people’s health.

But leaders, quoted by many state advertising outlets on Sunday, say the issue is one of understanding more than truth.

According to one document, “different women’s responses to medications are just different,” and that claims about them being ineffectual “mostly come from people’s anecdotes and personal feelings.”

Common concerns about the status of drugs in common hospitals and pharmacies have not been adequately addressed by the standard reaction. A care system that is already in great stress as a result of a population that is rapidly aging is facing the most difficult situation.

How did it all begin?

The discussion around the use of generic medications started in December when the government made the list of almost 200 businesses that had won contracts to buy drugs to Chinese state institutions. Almost all were home makers of universal pharmaceuticals.

This intensified in January, when, in a video interview that went viral, the chairman of a medical office in Shanghai, shared his concerns about the drug purchasing program.

Zheng Minhua cited “antibiotics that cause allergies, heart force that won’t go down, anaesthetised people who didn’t sleep” and pills that did not clear the colon as being among the problems that had been encountered.

Dr. Zheng’s words were immediately understood and have since been condensed into a social media slogan that has been shared by millions in the past month. However, much of the discussion has since been censored on Weibo. Many people have come forward with their own negative experiences using allegedly subpar drugs.

” I underwent intestinal surgeries in 2024, which required me to consume laxatives beforehand”, one Weibo user wrote. They claimed that the drugs they were given had” no effect whatsoever” even after the dose had doubled and that they had to resort to drinking coffee to aid in bowel movement.

EPA-EFE/REX/Shutterstock People wearing masks queuing outside a pharmacyEPA-EFE/REX/Shutterstock

Some people are unwilling to use generic medications because of concerns raised about the efficacy of them.

A person on Xiaohongshu, China’s Instagram-like app, said that when hospital doctors prescribed them the generic version of an antibiotic, they immediately went online to buy the “original” “real” one, since the generic version “tasted different”.

” There have been many people catching colds recently. Many of them may have purchased this drug. Send reminders to your friends right away so they can check the brand before purchasing,” warned the user.

Although it’s not clear who was behind some of the most well-known posts about the procurement controversy. The heavily monitored internet in China has a strong culture of censorship, both from the authorities and the users themselves.

In a scathing, now-removed post by popular podcast host Meng Chang, he lambasted the lack of imported drugs in the public sector:” If this isn’t a bottom line, I don’t know what is”.

Public outcry has also been drawn attention to the challenges of getting imported drugs that people believe are of higher quality.

In response to authorities ‘ attempt to reassure people of the quality of generic drugs, one Weibo user wrote:” As long as we are allowed to buy brand-name drugs ourselves, I have no other complaints”.

What is the operation of the drug procurement system?

It was introduced in 2018 as a way to lower state drug costs and involves local governments conducting tendering for about 70 % of state hospitals ‘ annual drug requirements.

In order to win these lucrative contracts, various drug manufacturers then compete to offer the lowest prices for the drugs.

This makes domestically produced generic drugs advantageous because they are frequently several times less expensive to produce because they do not pay for the expensive research and development costs associated with making generic medications that are produced elsewhere.

China has grown to be one of the biggest exporters of both finished goods to domestic customers and key ingredients to foreign companies, making it one of the biggest players in the global generic pharmaceutical market. In the expanding domestic market, thousands of generic drug manufacturers compete to sell their goods for competitive prices.

Generic medications must be tested and proven to be accurate in order for them to be eligible for China’s procurement process to be eligible for the country’s procurement system.

Beijing has given the drug procurement system credit for saving millions of residents more than$ 50 billion ( £40 billion ) in its first five years.

However, some drug manufacturers have offered products for incredibly low prices as a result of the procurement process. An aspirin tablet sold for less than one cent in one of the winning bids in December.

Are drug tablets that cost less than one cent edible? at the time, became a hot topic on Weibo.

Stacy Zhang, associate professor at NYU Langone Health, reported to the BBC,” The manufacturers who win the bids frequently set prices so low that they may struggle to produce high quality medications with the correct ingredients, which could lead to ineffective medications.”

She continued, noting that the procurement system “was not intended to restrict access to imported brand-name drugs,” but that it may still have “affected their accessibility.”

Questions over data and efficacy

In a proposal that 20 doctors, including Dr. Zheng, submitted to Shanghai authorities last month, it was stated that” there are widespread concerns in the industry that procurement prices are too low, leading unethical companies to cut corners to reduce costs, affecting the efficacy of drugs.”

” Doctors are helpless because they have no choice, and there is no channel to escalate feedback”.

A recent article by Xia Zhimin, a doctor in Hangzhou, has added to the scrutiny. He made an emphasis on what he claimed were dubious data from the generic drug trials on the procurement list in it because it was the same as the information from the original drug whose basis it was based. Dr. Xia suggested that it serve as proof of fraud.

The National Medical Products Administration responded, claiming that his findings were the result of an “editorial error.” His article has since been removed.

Counterfeit drugs, which have pătrunded into both generic and brand-name drug markets across the world and are notoriously difficult to detect, are just one more reason to worry about quality. This is a global health issue, according to the World Health Organization.

” To enhance affordability, the introduction of cost-effective generics is essential”, Kevin Lu, associate professor at the University of South Carolina’s College of Pharmacy, told the BBC.

He added that” strengthened quality control” and” continued improvements in drug approval and manufacturing standards” were required for the procurement process.

Getty Images A group of elderly people sitting on park benches, wearing winter coatsGetty Images

A sector in crisis

China’s healthcare system is already in danger of being under increased scrutiny as a result of the controversy.

A rapidly ageing population has meant that the country’s total health expenditure has increased nearly 20-fold over the last 20 years, reaching 9 trillion yuan ($ 1.25 trillion, £1 trillion ) in 2023.

Across the country, public medical insurance funds are running thin. Local governments that had traditionally relied heavily on land sales to generate income are now saddled with debt as China’s economy is ravaged by a real estate crisis.

The healthcare system has been going through a trust crisis at the same time. Since the 2000s, violent attacks on doctors have risen, fueled by anger over the lack of resources and a decline in doctor confidence.

The ongoing controversy surrounding the procurement of drugs has at least been acknowledged by the state as a problem to be addressed, in contrast to those that have been deemed politically sensitive and heavily censored by authorities, such as the persecution of political dissidents and the repression of the Uyghurs in Xinjiang.

Authorities “attached great importance” to these safety concerns, according to the National Healthcare Security Administration in a statement released on January 19 that they would seek feedback on the drug procurement policy.

” The national centralized procurement is still in its early stages is undeniable. A public health expert was quoted by state media Life Times as saying that there are many pharmaceutical companies with varying production quality. The article also included recommendations for improved drug evaluation standards from other experts.

Authorities are now focusing on a system that is supposed to save both lives and money as they attempt to change the faltering image of the procurement system.

As one Weibo user argued, the savings from lower drug prices are but” a drop in a bucket” of China’s national healthcare costs. On the other hand, they wrote that “drinking poison to quench thirst” is equivalent to allowing potentially defective drugs to be widely used.

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Samui tackles outages with mobile generators

To be finished in 2028 or 2029 is the distribution system reform on the visitor island with the most power.

Koh Samui, with a continuous native inhabitants of around 50, 000, welcomed about 2.7 million Thai and international travellers in 2024. (Bangkok Post File Photo)
Koh Samui, with a continuous native inhabitants of around 50, 000, welcomed about 2.7 million Thai and international travellers in 2024. ( Bangkok Post File Photo )

Regulators on the Thai visitor island of Koh Samui are using diesel-fueled generators to generate more electricity to solve frequent power outages caused by outdated transmission lines.

The project is a temporary fix before novel transmission lines are finished by 2028, according to Prasert Sinsukpraert, continuous secretary to the Ministry of Energy.

He claimed to have gone to a hotel to check out the disruptions and join with local authorities to discuss the issue while there.

Officials agreed to deal with the interruptions by using wireless generators, with energy generation capability of 10 mw, said Mr Prasert. Up until the installation of new distribution lines, this capacity may be sufficient to guarantee stable electricity supply.

Koh Samui, with a continuous native inhabitants of around 50, 000, welcomed about 2.7 million Thai and international travellers in 2024.

The development of the distribution method is divided into two phases, with the installation’s first phase set to be finished in 2028. In 2029, the second phase is expected to be finished.

The 11.2-billion-baht initiative, which includes installing underground cables, will begin in the second quarter of this year, Mr Prasert said.

Samui may be connected to a station in the Khanom city of Nakhon Si Thammarat by a 48-kilometer tranny line with a 230 kilovolt capacity.

” The electricity supply loss must be solved in the short term primary”, said Mr Prasert.

” We also intend to communicate with hotel and resort operators about implementing additional measures to better control power supply and demand, such as installing rooftop solar panels and using energy-saving equipment,” said the company.

On Koh Samui, power interruptions typically occur during the peak tourist season between April and May, when power demand is highest.

More tourists and the growth of businesses on the island have resulted in more demand for electricity, but source is constrained.

An official from the energy ministry who requested anonymity claimed that the Provincial Electricity Authority ( PEA ) had previously planned to install new underwater power cables, but the project fell through due to a dispute with construction companies.

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DeepSeek’s revelation was only a matter of time – Asia Times

Foreign start-up DeepSeek’s amazing AI software outcomes have shaken public areas, driving down the stocks of leading US tech companies, including Nvidia.

Some then wonder how a smaller team in China had, in such a short time, challenge the cutting-edge Artificial products of American companies with large resources, exceptional talent and organized market positions.

Little executive team that aren’t as well-known have made notable advancements in the past. Such activities are unstable, but we should not be surprised when they occur, as I noted in a new post. &nbsp,

This has been accurate in many areas. One excellent example of Alan Turing’s pioneer work in computer technology innovation in Britain in the 1940s is. So, China’s DeepSeek has become a prestigious and rare group of small, pioneering teams.

Because high-power processing power is widely available for commercial use and well-trained engineers are then employed worldwide, computer science is perfect for these advancements. Universities all over the world now offer top-notch architectural education. Nevertheless, open-source software has enabled broad access to complex programming.

Leading tech companies from the US, including business leaders like Google, are now able to use well-trained local engineers to create significant portions of their application in locations all over the world.

This results in private talent pools where innovative new businesses can emerge to compete globally. New technology companies are likely to be established when highly skilled engineers are available, sponsored by governments and private money.

Innovations may therefore come from unanticipated locations, because excellent people, with the right resources, can accomplish extraordinary things. And there are now numerous places in the world where advanced software development is possible.

The long-term impact of DeepSeek on the market for AI is also up for debate. However, it is safe to assume that as options become more affordable, the cost of education helpful AI systems will increase.

This has historically shaped commercial technology, resulting in the same winners and losers as usual. However, DeepSeek’s victory serves as a powerful endorsement of government policy regarding regulating technology transfer.

Government efforts to regulate AI markets will be impacted by the widespread growth of computer research skills, which will limit the types of goods available. There will be endless methods of avoiding restrictions as companies around the world become successful competitors as a result of innovative international competition. &nbsp,

No trustworthy barriers can long-term protect products in the field of computer science. Nvidia and Intel have demonstrated with oppose business value that the equipment and technical expertise know no long-term restrictions.

When it was a difficult decision, Nvidia took the initiative to insert the emerging Artificial market. Intel did no. Nvidia is a home business in the US, as it may be. Over time, fresh companies will come from different geographies. For success, incumbent must be more agile.

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Musk’s hostile takeover about efficiency or empire? – Asia Times

Elon Musk’s position as the head of the Department of Government Performance, also known as DOGE, appears to be a significant step in an effort to reduce the bureaucracy’s errors. However, a disturbing situation permeates the language of cost-cutting and governmental streamlining.

The White House office, which was formerly known as the US Digital Service and later renamed the US DOGE Service on the first day of President Donald Trump’s subsequent expression, has been given the name” unique government individual.” The Musk team claims to improve efficiency and reduce reliability, but their ultimate objectives are both.

That may sound like a striking proceed toward Silicon Valley-style development in leadership. Nevertheless, the deeper desires driving Musk’s engagement are unlikely to be strictly moral.

Musk has an enormous business empire, passions in artificial intelligence, need for financial strength and a long-standing hatred for state oversight.

His access to sensitive state systems and the thick decision-making that has guided Expand to day have enabled Musk to obtain extraordinary economic and strategic advantages for both himself and his businesses, which include Tesla, the leader of space transportation, and SpaceX.

One specific historic parallel is intriguing. The British East India Company, a shopkeeper shipping firm, established itself as a trading body in the Indian Ocean in 1600 with exclusive rights to do business in the region before gradually gaining quasi-governmental authority and establishing its rule with an iron fist over American territories in Asia, including the majority of what is now India. The business was granted the right to issue money on behalf of the British queen in 1677.

In my forthcoming guide,” Who Elected Big Tech” I‘ll explain how. Similar instances of private companies retaking over state functions are occurring in the US.

However, what took ages during the colonial period is now unfolding at a lightening speed in just a few days thanks to digital means. Real trading posts and personal armies have been replaced by digital financial systems and data access in the twenty-first century. Communications are the key to energy then, rather than brute power.

A man in a uniform and a badge holds out his arms, palms outstretched.
A security official prevents U. S. Sen. Ed Markey, straight, from entering the US Environmental Protection Agency office on February 6, 2025, in an effort to join with DOGE team. Image: Al Drago / Getty Images via The Talk

The information network

When examining his business empire, it becomes clearer to see Musk’s actions as a strength get. He is in charge of several businesses that are subject to government regulations and have national deals.

In industries where government oversight may make or break wealth, SpaceX and Tesla, as well as The Boring Company, The Boring Company, Neuralink, and the artificial intelligence business xAI, all operate in industries.

Musk is direct and possibly demolish the government organizations that have typically hampered his organizations in his new position. Tesla’s Autopilot program has been subject to numerous investigations by the National Highway Traffic Safety Administration, Musk has received punishment from the Securities and Exchange Commission for his market-moving tweets, and SpaceX has been hampered by environmental laws.

All of these monitoring mechanisms could be weakened or eliminated through DOGE, disguised as effectiveness, or both.

But Musk’s unparalleled access to government statistics makes up the most disastrous aspect of his position as CEO of DOGE. Expand employees reportedly have electronic authorization to view data in the US government’s transaction system, which includes bank account information, Social Security numbers and income tax documents. Apparently, they have even seized the ability to change the system’s application, data, transactions and records.

Many media reports suggest that Musk’s staff has already changed the rules governing the processing of payments for Social Security recipients and government contractors to make it simpler to halt payments and keep records of payments that have been blocked, made, or altered.

However, Expand people merely require the ability to create copies of the country’s most sensitive personal information.

A federal prosecutor has forewarned that from happening, at least for the time being. Even so, by transferring the data to Grok, Musk’s xAI-created artificial intelligence program, which is already connected to the Musk-owned X, previously known as Twitter, it would have an unmatched ability to predict economic changes, identify state vulnerabilities, and model vote behavior.

That’s a lot of information and strength for one person, which is disturbing.

A man in a business suit stands at a lectern and gestures.
Donald Trump addresses a significant crypto market conference in July 2024. Photo: AP / Mark Humphrey

Cryptocurrency revolution?

Like Trump himself and many of his closest experts, Musk is likewise deeply involved in bitcoin.

The horizontal development of Trump’s personal crypto and DOGE’s visible alignment with the bitcoin known as Dogecoin suggests more than just coincidence. I think it demonstrates a concerted plan to control American money and economic policy, essentially putting the country in entirely private hands.

The genius – and danger – of this technique lies in the fact that each action might seem justified in isolation: modernizing authorities systems, improving effectiveness, updating payment infrastructure. However, they also act as the framework for the transfer of even more financial power to the already rich.

How he might possess his new powers are reflected in Musk’s autocratic tendencies, which are visible in his violent management of X and his claim that it was against the law to publish the names of those who work for him.

Companies that favor Musk may face unanticipated audits, and governmental bodies that are looking into his businesses may find their budgets cut, and allies may have privileged access to government contracts.

This isn’t debate – it’s the natural expansion of DOGE’s expert combined with Musk’s demonstrated behavior.

Critics describe Musk’s activities at DOGE as a large commercial coup. People just refer to it as a revolution. The opposition movement is gaining momentum in Washington, DC, and around the state, but it’s unlikely that street protests only can prevent what Musk is doing.

Who can successfully look into a team that attempts to eliminate monitoring itself? Prior to the Musk operation’s start, the administration’s improper fire of at least ten inspector general hints at a deliberate attempt to obstruct accountability in the government.

The Republican-led Congress, strongly aligned with Trump, may not want to move in, but even if it did, Musk is moving much faster than Congress actually does.

Destroy the state, create a business nation?

Together, Musk and Trump’s actions form what cryptocurrency investor and entrepreneur Balaji Srinivasan refers to as” the network state.”

A digital country does emerge online before establishing any physical appearance. Instead of declaring democracy and fighting for it, the channel state builds community and electronic systems like a technology startup company with its own bitcoin.

Alternatives would be impossible to come by by the time a Musk-aligned cryptocurrency became standard because of the main structure and relationships currently exist.

Converting more of the nation’s economic system to privately held cryptocurrencies do remove federal governments from their own citizens. Musk has now begun this endeavor, making use of his wealth and social media reach to run for office in Germany, as well as several other European nations.

A country that is run by those who could afford to purchase the electronic currency do no longer be run by the people who live in its place. In this situation, I’m concerned that Vladimir Putin, the president of Russia, or Palantir, the AI-surveillance conglomerate, will make Congress’s control of government spending and actions useless. Along the way, it may end up removing the ability to keep presidents responsible from the judiciary, Congress, and citizens.

All of this certainly presents a slew of conflict-of-interest issues that are completely unheard of in terms of range and scope.

The question facing Americans, thus, isn’t whether federal needs development – it’s whether they’re willing to sacrifice politics in pursuit of Musk’s edition of effectiveness.

We’re necessarily altering the partnership between personal power and public governance when we give tech leaders immediate control over government functions. I believe we’re undermining American national security, as well as the strength of We, the Citizens.

The most hazardous inadequacy of all may be the Americans ‘ inaction in handling this crisis.

Allison Stanger is Middlebury’s Distinguished Endowed Professor.

The Conversation has republished this post under a Creative Commons license. Read the original post.

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Google quietly drops promise not to use AI for weapons – Asia Times

Last week, Google quietly abandoned a long-standing commitment to not use artificial intelligence ( AI ) technology in weapons or surveillance. The software giant removed claims that promised not to do in an upgrade to its AI concepts, which were first published in 2018.

  • systems that damage the general public or are likely to cause harm to them.
  • arms or other solutions whose primary function or application is to directly or indirectly inflict harm on people
  • systems that gather or use details for monitoring are in violation of international standards.
  • solutions that conflict with internationally recognized human rights and international law principles.

The release came after former US President Joe Biden’s executive order was removed to promote the safe, secure, and reliable advancement and use of AI.

The decision by Google is in line with a new trend of big tech entering the regional security space and accommodating more AI-based government programs. Why is this occurring then, then? And what will the impact of increased AI use in the army be?

Militarized AI

In September, older representatives from the Trump government met with leaders of leading AI businesses, such as OpenAI, to examine AI development. The authorities finally established a task force to organize data center development while considering environmental, economic, and security objectives.

The Trump government released a note the following fortnight that, in part, addressed “harnessing AI to fulfill national safety objectives.”

Big tech companies heard the message right away.

Tech giant Meta made the announcement in November 2024 that it would offer government organizations and private organizations involved in security and national security access to its” Llama” AI models.

This was despite Meta’s own policy which prohibits the use of Llama for” ]m ] ilitary, warfare, nuclear industries or applications”.

Anthropic, an AI firm, also announced at the same time that it would collaborate with Palantir, a data analytics firm, and Amazon Web Services to give US knowledge and protection agencies access to its AI models.

The US Department of Defense received a statement from OpenAI the following month that it had partnered with security startup Anduril Industries to create AI.

The firms claim they will blend OpenAI’s GPT-4o and o1 designs with Anduril’s systems and technology to enhance the US government’s defenses against helicopter attacks.

Defending countrywide surveillance

The three businesses argued that the adjustments to their plans were necessary because of US national security concerns.

Get Google. The business cited world Artificial competition, complex political landscapes, and national security interests as factors in a blog post that was published earlier this month as justifications for changing its AI concepts.

China’s access to particular types of high-end system cards used for AI research was restricted by the US’s trade controls in October 2022. In response, China issued their own trade control measures on high-tech aluminum, which are essential for the AI device market.

Due to the recent release of very effective AI versions by Chinese tech corporation DeepSeek, the tensions from this business war grew. Prior to the US’s export controls, DeepSeek reportedly used 10, 000 Nvidia A100 chips to create their AI designs.

How the military of corporate AI would advance US national interests has not been made clear. However, there are abundant signs that tensions with China, the US’s biggest political rival, are influencing the decisions being made.

It is already well known that animal life has been impacted by AI’s use in military settings.

For instance, in the battle in Gaza, the Israeli government has been relying heavily on advanced AI resources. These devices call for a lot of information and more storage and processing companies, which are being provided by Microsoft and Google. These AI instruments are frequently false when identifying possible targets.

Officials in Gaza claim that these errors have increased the death toll in the conflict, which is now more than 61 000, as a result of Jewish military ‘ claims.

Google’s elimination of the “harm” provision in their AI guidelines is in violation of international human rights legislation. This identifies” surveillance of people” as a crucial measure.

Why would a business software company need to outlaw a provision relating to injury is concerning.

Facebook right challenges

Google does state that its products may also adhere to “widely accepted principles of international law and human rights” in its updated rules.

Human Rights Watch has objected to the inclusion of more explicit information about arms growth in the original principles despite this.

Additionally, the group points out that Google hasn’t fully explained how its products ‘ animal rights may be met.

Joe Biden’s revoked professional attempt on AI even addressed this issue.

Biden’s program wasn’t ideal, but it was a move towards establishing guardrails for accountable development and use of AI systems.

As big technology becomes more and more entangled with military organizations, and the risk that comes with AI-enabled war and the violation of human rights rises, like scaffolding are now more important than ever.

Zena Assaad is older teacher, School of Engineering, Australian National University

This content was republished from The Conversation under a Creative Commons license. Read the original content.

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‘Puzzling’: Malaysia’s new rules for Sarawak’s oil and gas sector set to trigger fresh political tensions

CAN THE DIFFERENT LAWS CO-EXIST?

Sarawak, which has longer pushed for greater control over its oil resources, has been the subject of decades of flimsy conversations with Petronas and the Malaysian authorities over Petronas ‘ dominance over the nation’s oil and gas reserves, as mandated by the PDA.

Sarawak, which insists that the PDA does not use to it, has passed laws governing its oil and gas industry and appointed Petros as its single gas aggregate in February last year, a step that instantly challenged Petronas ‘ long-held power.

The eastern position holds about 60 per cent of Malaysia’s oil resources and helps about 90 per cent of Malaysia’s LNG imports.

Both events have tried to reach a deal in discussions that started in April of last year, but they have broken down double, with Petronas suspending all discussions in December, according to professionals from the federal oil company.

Under the condition of anonymity, top Indonesian government leaders who spoke to CNA claimed that Petronas and the Sarawak government’s latest confusion is the result of efforts by the Anwar leadership to negotiate a deal.

One senior government official who was close to the circumstance said,” The true issue here is that discussions have broken down between the events and that is why Petronas and Sarawak doesn’t make any statements.”

Representatives from Petronas, who also spoke unnamed, claimed that the state had become unworkable in recent months as the condition began enforcing registration requirements for personal oil and gas companies operating in the position.

” The enactments of laws by the state ( Sarawak ) government have complicated the situation”, said the government official, adding that it has” caused a lot of uncertainty among international investors”.

” What used to go through Petronas in the state ( under the PDA ) before must now go through Petros, and that is putting pressure on both the foreign independent contractors and ourselves,”

Any group engaging in petrol distribution activities in Sarawak is required to apply for a license under the state’s distribution of gas ordinance, which states.

However, Azalina claimed in her published political response that Petronas and its affiliates are not required to obtain a license or follow any other requirements in Sarawak besides what is set forth in Act 144, which is the PDA 1974, based on the arrangement between Anwar and Abang Johari.

Some even have reservations about the compatibility of the various pieces of regulations governing Petronas and Petros.

Zaid Ibrahim, a notable Malaysia lawyer and a previous secretary overseeing legal matters, told CNA that Anwar’s notes in mid-January over a settlement reached are misplaced.

” There didn’t get two sets of rules, such as the PDA and the Sarawak Distribution of Gas Ordinance, because it will only result to more fight, and international investors want certainty”, he said.

Zaid thinks a fresh strategy is required.

The best outcome would be to have Petronas continue as it did before and both parties take to the authorities to resolve the dispute, he said.

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Accused European ransomware hackers arrested

Experience extradition to US, Switzerland in$ 16m event

Police search the villa of one of the accused hackers in Phuket on Sunday. (Police photo)
Police seek one of the accused thieves ‘ homes in Phuket on Sunday. ( Police photo )

Four Europeans who live in Phuket are wanted in Switzerland and the United States on suspicion of using ransom to demand payment totaling US$ 16 million. &nbsp,

The people were taken into custody on Sunday from individual apartments, palaces with swimming pools, in Muang and Thalang regions of the southwestern area state, Pol Lt Gen Trairong Phiwpan, mind of the Cyber Crime Investigation Bureau, said on Monday.

Police also seized about 40 things as facts, including laptop computers and mobile phones. &nbsp, Police withheld the four people’s names

Between April 30 and October 26, 2024, according to Pol Lt. Gen. Trairong, the four suspects allegedly attacked 17 businesses in Switzerland using ransom. In change for the code needed to unlock the stolen computer systems, they demanded payment.

Additionally, they allegedly threatened subjects who refused to pay via email and phone calls. Threats to highlight or offer stolen data were among the messages.

Pol Lt Gen Trairong said the four suspects reportedly attacked about 1, 000 events global and caused about US$ 16 million in restitution, more than 500 million baht, in full.

Specialists in the US and Switzerland requested that the attacks and prosecutions be carried out in reply. In the two nations, the four people will be extradited to appear in court. &nbsp,

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Accused Russian ransomware hackers arrested in Phuket

Experience extradition to US, Switzerland in$ 16m event

Police search the villa of one of the accused hackers in Phuket on Sunday. (Police photo)
On Sunday, authorities searched one of the accused thieves ‘ homes in Phuket. ( Police photo )

Four Russians who reside in Phuket are wanted in Switzerland and the United States on suspicion of using ransom to demand payment worth US$ 16 million. &nbsp,

The people aged 27 to 39 were taken into custody on Sunday from individual apartments, villas with swimming pools, in Muang and Thalang regions of the southern island state, Pol Lt Gen Trairong Phiwpan, mind of the Cyber Crime Investigation Bureau, said on Monday.

Police also seized about 40 things as facts, including laptop computers and cellular phones. &nbsp, Police withheld the four people’s titles

Between April 30 and October 26, 2024, according to Pol Lt. Gen. Trairong, the four suspects reportedly used ransomware to strike 17 businesses in Switzerland. In change for the code needed to unlock the stolen computer systems, they demanded money.

Additionally, they allegedly threatened survivors who refused to pay via email and phone calls. Threats to introduce or offer stolen data were among the messages.

Pol Lt Gen Trairong said the four suspects reportedly attacked about 1, 000 events global and caused about US$ 16 million in restitution, more than 500 million baht, in full.

Officials in the US and Switzerland requested that the attacks and prosecutions be carried out. The four people will be required to appear in court in the two nations to answer the costs. &nbsp,

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East Ventures, SV Investment announced the first close of its Southeast Asia – South Korea investment corridor fund

  • Plans to invest in revenue-generating companies, commonly at Series A to B levels
  • Targeting high-potential technology companies in SEA &amp, South Korea weighting across both regions

Sang Han, partner for East Ventures South Korea fund, Roderick Purwana, managing partner at East Ventures, Wonho Hong, CEO at SV Investment, David Junghun Bang, managing partner at SV Investment

The first close of East Ventures ‘ joint fund, known as the” East Ventures South Korea Fund in Partnership with SV Investment,” has been announced by SV Investment, a publicly listed venture capital and private equity firm with a headquarters in Seoul, South Korea.

Both events stated in a joint statement that this first final is supported by leading buyers from Korea and Indonesia. The bank is committed to expanding on the track record and enormous effectiveness delivered by both East Ventures and SV Investment to time, they added, adding that with anchor funds from the Korea Development Bank, Korea’s state-owned development bank, and a corporate commitment from one of the world’s leading neobanks.

The bank is prepared to build its capital in collaboration with the leading venture capital firms in both countries. East Ventures and SV Investment are constantly working to identify high-potential software companies in Southeast Asia and South Korea that want to level their firms across both areas. The fund expects to invest in revenue-generating startups, ideally raising Series A to B funding, with cheque sizes ranging from US$ 1million ( RM4.4 million ) to US$ 3 million ( RM13.4 million ) as the lead investor in high-conviction opportunities driven by exceptional founders.

This second nearby is a major step in our shared responsibility to encouraging investment and cross-border cooperation between Southeast Asia and South Korea. Our first Albums gave us a lot of encouragement, and we’re looking forward to new possibilities. Along with SV Investment, we are committed to forging a productive and healthy Southeast Asia for today, tomorrow, and for years to come”, said Roderick Purwana, Managing Partner at East Ventures.

The bank may be crucial in bridging the gap between Southeast Asia and South Korea by promoting friendship and building bridges. According to David Junghun Bang, Managing Partner at SV Investment, we are firmly committed to creating important collaboration for both regions because South Korea may include increased opportunities to develop into one of the fastest-growing and largest markets and Southeast Asia will benefit from the implementation of innovative technology from South Korea, which will help propel its economy to the next level.

The account is on record to close by the middle of 2025 and continues to engage with buyers.

Founded in 2009 in Indonesia, East Ventures has raised nine money focusing on Southeast Asia. The company has made investments in over 300 early- and late-stage technology companies, resulting in positive social and environmental effects and powerful financial results. Additionally, it has maintained a top-tier VC status in Southeast Asia, having been named by Preqin as the most consistently top-performing account worldwide and the most effective investment in Southeast Asia by numerous media stores.

With departments in Shanghai and Shenzhen in China and Boston in Singapore, SV Investment makes investments worldwide. One of the most effective separate Asian venture capital firms in Southeast Asia has been SV Investment.

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China’s health regulator defends quality of local generic drugs

SHANGHAI: China’s healthcare regulator on Sunday ( Feb 9 ) defended the efficacy of off-patent medicines it had approved to be distributed through the country’s public hospitals, saying an investigation into quality concerns had found them to be unsubstantiated. The National Healthcare Security Administration ( NHSA ) stated in anContinue Reading