Cordlife loses accreditation with international blood bank body

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S$ 12.35 Billion LOSS

In a separate filing, Cordlife posted a loss of S$ 12.35 million ( US$ 9.4 million ) for the first half of the year, compared&nbsp, to a net profit of S$ 2.2 million in the same period a year ago.

The drop includes about S$ 9.7 million for the&nbsp, cancellation of successive charges for clients who had stored cord blood in its high-risk tanks, as well as deal liabilities&nbsp, related to upcoming store obligations of affected clients.

Seven of Cordlife’s 22 storage tank &nbsp, were found to have been exposed to temperatures above appropriate restrictions in November 2023. &nbsp,

Around 2, 200 thread body units belonging to nearly 2, 150 clients were damaged, with about another 5, 300 thread body units stored in a subsequent tank and a clean shipper deemed “non-viable” by MOH.

Cordlife’s profit for the first half of the year was &nbsp, S$ 9.2 million, a sharp decline from S$ 28.3 million in the same period a year ago. &nbsp,

The reduction in income for 1H2024 is mainly due to the expulsion of the Cordlife Group’s Singapore functions, the organization said.

The bank’s Singapore businesses, which had been the company’s largest income source, is expected to continue to be affected by the continuous suspension and examinations, said Cordlife.

” Cordlife will continue to work closely with the MOH to look into and correct the deficiencies in its Singapore activities.

The business reported that during the evaluation phase, it “upped its correction efforts.”

It said that an&nbsp, oversight committee was created in May 2024 that&nbsp, comprises&nbsp, specific executives and managing and will help solve Cordlife’s current issues, including the nomination of a new assessment agency.

In order to provide guidance and insights to its teams, Cordlife added that it established a medical and technical advisory board in June 2024.

Cordlife stated that it has been working with Shandong Qilu Stemcell Engineering since July to assist its Singapore team during the rectification period. &nbsp,

Nanjing Xinjiekou Department Store, which owns 20.3 % of Cordlife, is a subsidiary of Shandong Qilu Stemcell Engineering. It has around 1 million cord blood units in its cord blood bank and is located in Shandong province, China. &nbsp,

Additionally, it is thought that Cordlife’s Philippines operation will offer a variety of diagnostics tests and routine prenatal screenings.

” Despite the extremely difficult first half, we have continued to strengthen our processes, update our stakeholders, and fix our operations with the aim of returning our operations to full strength as soon as possible,” said Cordlife group CEO Ivan Yu.

To lessen the impact of our Singapore operations, he continued,” We are also looking into new business opportunities in other markets.”

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Property crisis haunts China investment, consumption – Asia Times

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As falling home prices continue to stifle property investment and people’s spending, China’s fixed-asset investment ( FAI ) and retail sales have remained stagnant this year. &nbsp,

The country’s FAI increased 3.6 % to 28.7 trillion yuan ( US$ 4 trillion ) in the first seven months of this year from a year ago, according to the National Bureau of Statistics ( NBS ). Investment made by state-owned-enterprises ( SOEs ) grew 6.3 % year-on-year but there was no growth in private investment.

Private investment remained stagnant as property investment increased by 10 % while growth in other industries increased by 10 %. &nbsp,

If property investment is excluded, China’s private investment rose 6.5 % year-on-year in the January-July period while the country’s FAI would have gained 8 %. &nbsp,

For the same time, retail sales, a key sign of China’s domestic consumption, increased 3.5 % to 27.4 trillion rmb, the NBS said Thursday. &nbsp,

Sales of convenience stores, shops and supermarkets rose 5.2 %, 4.5 % and 2 %, respectively. But sales of department stores and branded shops decreased 3.8 % and 1.6 %, respectively. &nbsp,

Online sales with physical goods rose 8.7 % to 7 trillion yuan, representing 25.6 % of total retail sales. Online sales of food and clothes surged 19.7 % and 6.3 %, respectively. &nbsp,

In an article published on Thursday, a Guangdong-based author using the moniker” Dahuzi” writes that “people now have a lower expectation of their property ‘ results because they cannot make money from the estate and property markets.” ” It’s normal that they do n’t want to spend money”.

Folks need to see that the stock market, the house, or prices are going to rise, he says, in order to be more willing to spend money. It all depends on whether the US Fed may begin the price cut period in September.

People will be prompted to enter the housing markets if mortgage rates fall below 3 % while rental yields rise above 3 %, he claims.

Most Chinese banks currently offer mortgage rates between 3.1 % and 3.7 % to homebuyers, with a few in Guangzhou offering rates as low as 2.9 %. Meanwhile, rental yields are about 1-2 %, media reports said. &nbsp, &nbsp,

Falling home charges

According to the NBS, 64 of the nation’s top 70 cities by people saw house prices fall in the first seven weeks of this year from the previous month. In the intermediate industry, all the 70 largest locations saw falls in house prices. &nbsp,

According to a analysis by Reuters, the rate index of previously built home properties fell 4.9 % year-on-year in July, the biggest drop since June 2015. Additionally, it represented a increases for 13 consecutive weeks. &nbsp,

The NBS also said China’s property sales dropped 18.6 % to 541.5 million square meters, or down 24.3 % to 5.33 trillion yuan, in the first seven months from a year ago. &nbsp,

” At the moment, most home index are still falling, meaning that the market adjustment is ongoing”, Liu Aihua, director and chief analyst at the NBS, said in a multimedia presentation on Thursday. &nbsp, &nbsp,

Liu stated that the main government will continue to push ahead initiatives that will ensure the stable and healthy growth of the property markets. &nbsp,

She said these methods include

  • a previously announced plan to buy empty properties and turn them into open rental properties,
  • a new strategy to let regional institutions make their own property laws
  • an ongoing strategy to ensure property developers can finish their construction projects and provide residences to their clients. &nbsp,

Economic stimuli&nbsp,

In a meeting presided over by General Secretary Xi Jinping on July 30, the Central Committee of the Chinese Communist Party (CCP ) held a press conference to discuss the Chinese economy’s “favorability” from” changes in the external environment” while domestic demand is still insufficient.

According to the report, significant sectors also face different risks and potential dangers as well as difficulties as a result of replacing conventional growth drivers with new ones.

The meeting stated that it is necessary to develop countercyclical adjustments, accelerate the full implementation of determined policy measures, and get ready to introduce a sample of “incremental plan actions” in a timely manner.

On August 1, Yuan Da, a lieutenant secretary-general of the National Development and Reform Commission, said in a media briefing that the “incremental plan steps” contain the government’s plan to manage 300 billion yuan in ultra-long unique government bonds to grow an existing trade-in and equipment-upgrade policy. &nbsp,

The system, announced on July 25, may at least twice the incentives for new-energy and traditional fuel-powered car payments to 20, 000 renminbi and 15, 000 per car, both. Additionally, it may pay for a variety of upgrades to equipment, including room elevators and agricultural tools. &nbsp,

But, the 300 billion yuan budget is only about 0.3 % of last year’s FAI and retail sales, which added up to a combined total number of 97.45 trillion yuan.

Income from Hong Kong

On the same day as the CCP’s political committee met on July 30th, Xi wrote a letter to Hong Kong businesspeople to encourage investment and promote transformation and ouverture. &nbsp,

Additionally, on July 30, Fang Hanting, a researcher at the Taiwanese Academy of Social Science, suggested creating a payment to manage the Greater Bay Area of Guangdong-Hong Kong-Macau and mandate that everyone in the region use the same money and identity-card program. &nbsp,

The content was eventually removed from the Internet. Shiu Sin-por, a pro-Beijing scientific, said Fang’s suggestion is strong but inappropriate because Guangdong province’s capitalism would follow.

On August 6th, Financial Secretary Paul Chan and staff from Hong Kong’s business community convened a workshop to” study the nature of Xi’s notice.”

However, Hong Kong-listed CK Infrastructure announced on Wednesday that it had received permission to list on the London Stock Exchange after receiving authorization from the UK’s Financial Conduct Authority. &nbsp,

When there are significant funding options, CKI Chairman Victor Li, the 96-year-old tycoon’s elder brother, said Thursday that his business has the ability to utilize its foreign capital to invest in Hong Kong or mainland China. &nbsp,

When Deng Xiaoping, the government’s then-leader, called for opening up the Chinese economy in the late 1970s, Li Ka-shing was one of the first group of Hong Kong entrepreneurs to start investing in China. &nbsp,

Read: China statistics show change from FDI to purchase worldwide

Observe Jeff Pao on X: &nbsp, @jeffpao3

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Flooding continues in Chiang Rai

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PUBLISHED: 15 Aug 2024 at 13: 35

Sai Lom Joy Walking Street market in Chiang Rai is flooded on Thursday. (Photo: Government Public Relations Department)
On Thursday, the Sai Lom Joy Walking Street business in Chiang Rai is flooded. ( Photo: Government Public Relations Department )

Lee RAI- On Thursday, the Sai and Chan streams overflowed in this northernmost state, causing flooding to locals and businesses, including those close to the Myanmar border.

The Sai River in Mae Sai district overflowed for a second day straight, causing damage to towns and markets along Tachileik, Myanmar, according to the government’s Public Relations Department ( PRD ). One of the flooded locations was Sai Lom Joy Walking Street.

In Mae Chan area, the Chan River inundated low-lying regions, including Nuanchan Market.

A portion of the Phahonyothin Highway in front of Chiang Rai Rajabhat University ( CRRU) was flooded in Muang district by runoff from Pong Phrabat Waterfall.

]embedded articles]

The storm position in Chiang Rai, Thailand, on Thursday. ( Video: Chiang Rai Report )

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Commentary: Japan PM’s resignation opens the door to a chaotic era

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FUMIO KISHIDA’S MIXED LEGACY

Whoever succeeds him will have a combined legacy of both successes and bag.

His record on defence and international legislation speaks for itself, it’s no coincidence that US Ambassador Rahm Emanuel, Japan’s biggest cheerleader, was among the first to challenge praise. He hailed the “new age of ties” &nbsp, ushered in over the past three years, and has spoken of how the prime minister could do what his father Abe could not: Double military spending, relax defence export laws, and restore relations with South Korea, all without sparking mass&nbsp, demonstrations.

Any successor to China’s birds seem unlikely to rock the boat too much in this situation, despite Sanae Takaichi’s current financial protection minister’s influence having a tendency to be a dying breed these days.

But it’s at apartment where issues need most attention.

Kishida’s” New Capitalism” economic policy was a busted flush, spooking markets and earning&nbsp, him the derisive ( and undeserved ) nickname of” Tax-Hike Four Eyes”. His successor will need to concentrate more on the home economy. &nbsp,

And he departs with his promise of income increases above prices, which are only beginning to have an impact, with real income eventually rising for the first time in 27 weeks in June. Otherwise, the general public also worries about inflation and the poor renminbi, which he should have won.

His successor may have to deal with any additional industry woes brought on by Kishida’s choice to lead the Bank of Japan, Kazuo Ueda, in the wake of the rate increases.

With over a quarter to go, it’s entirely possible that more than air dirty laundry in public, the group will merge around a popular prospect: Foreign Minister Yoko Kamikawa, perhaps, or plan heavyweight Toshimitsu Motegi. &nbsp,

However, possible rivals may take a hint from Kishida, who is known for being a voracious reader. One of the prime minister’s favorite novels is apparently Crime And Punishment. According to Dostoyevsky, “power is simply vouchsafed to the person who dares to bend and pick it up… one has only to try.”

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Kashmir: India’s Chenab rail bridge could be a strategic game-changer

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Getty Images The Chenab bridge in Jammu and KashmirGetty Images

For the first time, the world’s tallest single-arch road bridge will join Kashmir, which is administered by India, with the rest of the nation by train.

The Indian Railways completed the bridge over the Chenab river, which looms large over a deep valley in Jammu’s Reasi region, in more than 20 years.

The bridge’s impressive network project is 35 meters taller than the Eiffel Tower, and the first station is scheduled to arrive quickly between the Bakkal and Kauri regions.

The bridge is a part of a 272 km ( 169 miles ) all-weather railway line that will pass through Jammu before eventually extending all the way to the Kashmir valley ( there is no current release date for the completion ). The road connection to Kashmir Valley is frequently cut off during the winter because of heavy rain, which causes delays on the highway from Jammu.

According to experts, the new railroad line will give India a competitive edge along the disturbed border territory.

The Himalayan region of Kashmir has been a conflict point for years between India and Pakistan. Since gaining independence in 1947, the nuclear-armed neighbors have waged two warfare against it. Both assert complete control over Kashmir while maintaining merely certain portions.

Since 1989, an armed rebellion against Delhi’s law in the Indian-administered area has claimed thousands of lives and has involved a significant military presence.

Afcons A view of the Chenab bridge from aboveAfcons

Giridhar Rajagopalan, lieutenant managing director of Afcons Infrastructure, the company for the Indian trains that constructed the gate, said the rail bridge will allow the transportation of military personnel and equipment throughout the year to the boundary areas.

This will help India exploit a” corporate goal of managing any invasion by Pakistan and China]with whom it shares strained relations ] on the western and northern frontiers”, said Shruti Pandalai, a strategic interests professional.

On the ground, attitude about the job is more complex. Some citizens, who did not want to be named, said the walk would surely help boost travel connections, which may benefit them. They worry that it would give the Indian government a chance to have more authority over the canyon, too.

The government of Prime Minister Narendra Modi’s state, which stripped Jammu and Kashmir of its special status and divided the condition into two officially administered territories in 2019, is a larger institutional development that includes more than 50 different bridge, rail, and power projects.

The contentious decision was followed by a months-long safety crackdown that sparked widespread outcry in the area. Since therefore, the government has implemented a number of operational reforms that are thought to be efforts to bring Kashmir into closer contact with the rest of India.

Ms. Pandalai continues, adding that while India’s programs for the location would obviously be influenced by its” proper aims,” it also needs to take into account “local needs and context.”

Getty Images Security personnel deployed near Chenab Bridge, World's highest Rail arch bridge of Indian Railways on Udampur- Srinagar-Baramulla-Rail link project during its media preview in Reasi district, on March 26, 2023Getty Images

Due to the state’s perilous terrain, safety concerns, and judge cases, the building of the Chenab gate was approved in 2003, but it was delayed and delayed.

In the early stages of development, technicians working on the project had to travel by foot or by donkey to the remote site.

The Himalayas are a relatively fresh mountain variety, and geotechnical details remain a mystery. The Indian railways had to conduct extensive investigation studies, modify its shape and arches, and place the bridge in a very geological zone to tolerate simulated wind speeds of up to 266km/h.

” Logistics was another significant challenge, given the remoteness of the location and the congested roads. Many of the components of the bridge were built and fabricated on site”, said Mr Rajagopalan.

Besides the engineering complications, the railways had to design a blast-proof structure. Even if there was damage or a pillar was knocked out, Afcons claims the bridge can withstand a” strong explosion of up to 40kg of TNT” and trains would continue to ply, even at slower speeds.

According to experts, providing all-weather connectivity to the Kashmir valley might provide a much-needed boost to the region’s economy.

Poor connectivity during winter months has been a major bugbear for the valley’s largely farm-dependent businesses.

Seven in 10 Kashmiris live off perishable fruit cultivation, according to think-tank Observer Research Foundation.

The impact of the rail link, according to Ubair Shah, owner of one of Kashmir’s largest cold storage facilities in Pulwama district in south Kashmir, could be “huge.”

The majority of the plums and apples stored in his factory currently make their way to markets in northern states like Delhi, Punjab, and Haryana. Farmers would have access to southern India thanks to the new railroad line, he claimed, which would eventually boost their incomes.

An apple warehouse in Indian-administered Kashmir

Yet without better last-mile connectivity, he does n’t expect a quick shift to railway cargo.

” The nearest station is 50km away. The produce will need to be delivered to the station first, then unloaded and loaded onto the train once more. It’s too much handling. You have to try to minimize that with perishables,” Mr. Shah said.

The project is also expected to boost the region’s tourism revenue.

Despite being so remote, Kashmir’s spectacular tourist attractions have recently experienced a surge in visitor arrivals. A direct train would not only be less expensive but also cut travel time, which could boost tourism even further.

There will also be a number of difficulties.

Kashmir continues to be dogged by incidents of violence. A recent spurt in militant activity – which seems to have shifted from the Kashmir valley to the relatively calmer Jammu region – is a particular cause for concern.

In June, nine Hindu pilgrims were killed and dozens injured after militants opened fire on a bus in Reasi – where the bridge is located – in one of the deadliest militant attacks in recent years. There have been several other attacks on the army and civilians.

According to experts, these incidents serve as a reminder of the fragility of peace in this country, and connectivity projects would only go so far in reviving the region’s economy without stability.

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Cheaper Chinese farm produce ‘coming in by train’

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A benefit for Chinese fruit and vegetable manufacturers is the high-speed column through Laos.

PUBLISHED: 14 Aug 2024 at 19: 26

Many kinds of fruit, vegetables and other farm produce are on sale at Mae Kim Heng New Market in Muang district of Nakhon Ratchasima. (Photo: Prasit Tangprasert)
At Mae Kim Heng New Market in Muang city of Nakhon Ratchasima, there are many different kinds of fruits, vegetables, and various farm make on sales. ( Photo: Prasit Tangprasert )

Local business owners are in a difficult position because low land create and consumer goods from China are entering the country via high-speed trains through Laos, according to vendors.

On Wednesday, reporters visited the Mae Kim Heng New Market’s fruit and vegetable area in the Nakhon Ratchasima area and discovered a wide range of Chinese plantation produce on sale.

According to reports, Chinese goods are only shipped one day after arriving in Thailand’s northern location via the high-speed road line with China.

They include apples, grapes, Chinese peaches, oranges, broccoli, vegetables, ring peppers and several kinds of vegetables.

They come in beautiful and safe package, which prevents them from being damaged during transport.

According to some studies, these fruits and vegetables not only appear better than local variations, but they are also significantly less expensive.

A fruit vendor at the marketplace, Sangad Saadmaroeng, said she must purchase Chinese produce to buy because some Thai vegetables are out of stock all year long and less expensive.

She claimed that she purchases Chinese prince horn mushrooms, also known as eryngii, from a wholesaler for 10 baht per bottle and sells them for 20 baht. She added that she believes the wholesaler can purchase the vegetables from the farmer for as little as 4 or 5 ringgit per bottle.

However, sellers at a nearby flea market in the Muang city of Buri Ram reported that the market was quieter than usual, blaming the decline in demand for products from China.

It was also found that many of the items accessible at the business, including home appliances, clothing and shoes, were made in and imported from China.

Customers said they were willing to purchase lower-quality products with lower prices while vendors claimed these products are less expensive and can be sold fast.

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Why Japan’s Kishida finally called it quits – Asia Times

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TOKYO — As Fumio Kishida bows out of Asian leadership, let’s first supply with the roll on why.

No, Prime Minister Kishida is n’t falling on his weapon because of slush fund scandals. His Liberal Democratic Party members are about as uncommon as Tokyoites who consume fresh fish. After 1, 045 days in strength, Kishida’s struggling economy and failure to implement any significant reforms derailed.

Perhaps the premiership of a Group of Seven economy is n’t for you if your biggest improvement in 34 months is increasing the minimum wage to a whopping US$ 7 per hour.

Of course, Joe Biden did Kishida no privileges by stepping away. The strongest argument made by Kashida for winning the party’s leadership election in the upcoming month was her close connection with the US leader. Kamala Harris will now be considered debate as Biden is no longer the Democratic Party nomination.

But Kishida’s situation is its own financial sign with repercussions for shareholders rushing into Tokyo companies, Bank of Japan policies, Eastern geopolitics and US-Japan relations.

The tale driving waves of investment sliding Tokyo’s approach is a “booming” Japan. That epic changes over the last few years, led by former Prime Minister Shinzo Abe, whipped aging, inefficient, change-averse Japan Inc. into form.

In one method, this acquire has merit. It’s correct that Abe, Kishida’s leader, from 2012 to 2020 pressed companies to increase returns on investment and offer owners a louder tone. These actions, in addition to sharp drops in the renminbi, boosted corporate earnings and elevated the Nikkei Stock Average above its all-time highs from 1989.

Problem is, that’s very little all so-called” Abenomics” accomplished. Abe’s big talk of weakening labour markets, cutting government, supporting companies, empowering women and attracting top global expertise amounted to little.

Abe encouraged the main bank to open the pecuniary gates and removed the heavy lifting from the BOJ’s management in order to retool the market. However, a weaker yen even fueled a bull industry in confidence.

The japanese depreciation was prioritized over moves to boost competition in all three Asian governments that have been in power since late 2012. More drastic quantitative easing made politicians less and less subject to the force to stage playing fields. It took the burden off CEOs to develop, rebuild and jump for the railings.

That’s then backfiring on Kishida brilliantly. In many ways, he is footing the bill for the growing disconnect between what Abenomics promised and the situation Japan will face in 2024. The fact that compensation benefits are also trailing prices, generally speaking, amid a once-in-a-generation property bubble says it all.

The significant disparity between business pledges to raise wages and real gains is Kishida’s other issue. Earlier this year, labour unions were thought to possess scored a once-in-generation pay gain. The truth may end up being quite distinct.

” The’ shunto’ flower salary negotiations produced a three-decade report result, but real pay gains recorded across the economy have been disappointing”, says Stefan Angrick, top economist at&nbsp, Moody’s Analytics.

What’s more, he adds, “industrial manufacturing stalled in the second quarter and wage increases have headroom, both of which move the healing further into the range”.

All this has given the BOJ a circumstance of rate-hiker’s shame. More tightening measures are currently off the table, as Governor Kazuo Ueda’s group has already indicated following the rate increase decision on July 31.

The social formation in Tokyo is largely unknow where all this will lead. The list of possible Kishida descendants includes: Digital Minister Taro Kono, past Defense Minister Shigeru&nbsp, Ishiba, LDP Secretary-General Toshimitsu&nbsp, Motegi, former Foreign Minister Yoshimasa Hayashi, past Environment Minister Shinjiro&nbsp, Koizumi, and Economic Security Minister Sanae&nbsp, Takaichi.

As of now, none of the above is a distinct front-runner. In reality, the LDP election process will have the most intense political competition in Japan in recent memory.

The problem, of course, is that none of the apparent applicants is known to be an economical reformer. Given that the LDP has essentially wasted the next 12 years, which provided a window into Japan’s future, that is problematic.

No modern Chinese leader had a blueprint for an economy that voters approved of, great endorsement ratings, and plenty of time to put it into action when Abe won the league for a second time in 2012 ( Abe held business for almost eight years ).

Then, Kishida is paying the price for LDP silence over the last 4, 249 time. Yes, Kishida is to blame for his low 20 approval rankings. He is also suffering from the combined effects of the ruling party’s failure to improve Japan’s economic standing.

Kishida is n’t without his win. A big one is raising defense spending to a record 7.95 trillion yen ( US$ 54 billion ), or close to 2 % of gross domestic product. If Donald Trump is to get another term in the White House, this success may be beneficial. Trump agitated for allies to increase military spending during his first name as US senator, which spanned 2017 to 2021.

Despite the economic mood that wages are falling, prices is still at its peak. Below, Kishida did himself some favors by slowing-walking techniques to revitalize the reform process.

This includes some of Kishida’s unique ideas. In October 2021, Kishida promised a “new neoliberalism” to destroy Japan Inc. and redistribute money toward the middle category.

Kishida furthermore proposed to open a way for the US$ 1.5 trillion Government Pension Investment Fund, the world’s largest for object, to finance a business bonanza. Along with tapping&nbsp, GPIF, Kishida sought to woo foreign investment.

But little came of” Kishidanomics”. The reality as Kishida bows out is that wage gains are bigfooted. This is largely a side-effect of Abenomics, which shaved a third off the yen’s value.

In addition to facilitating complacency, it made Japan particularly vulnerable to import inflation given the rise in food and energy costs. Japan has been particularly hit by the effects of Covid-19, Russia’s invasion of Ukraine, and rising Middle Eastern tensions.

Japan has now experienced the inflation it has been attempting to produce for 25 years. But it’s the “bad” kind that depresses consumer confidence and business investment. This predicament tarnished Kishida’s economic legacy.

Political finance scandals are never helpful, of course. However, Kishida is losing the sword because of an economy that has n’t kept up the lofty goals of the last ten plus years. Promises that the LDP’s next leader will struggle to keep as the US economy struggles and China’s economy slows.

On Wednesday, Kishida said, without irony, that&nbsp, “in order to fully emerge from a deflation-prone economy, we must accelerate wage and investment growth, and ensure we achieve our goal to expand Japan’s gross domestic product to 600 trillion yen ($ 4.10 trillion )”.

If only the LDP had done that, Japan might actually be booming. Additionally, it might not be required to elect its fourth prime minister in less than a year. Suffice to say, that to-be-named leader might be set up for economic success.

Follow William Pesek on X at @WilliamPesek

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Maxis partners Singtel to accelerate enterprise digital transformation with Malaysia’s first 5G orchestration platform at MCY Summit 2024

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  • Program supports high-speed info needs, real-time analytics &amp, automatic systems
  • Provides users with low-latency technology, GPU as a Service, and store entry

Goh Seow Eng, CEO of Maxis (Left) & Manoj Prasanna Kumar, chief technology officer of Singtel Digital InfraCo.

Maxis has partnered with Singtel to create Malaysia’s first all-in-one system for 5G network, top technology, sky, and services automation, built on Singtel’s Paragon for telco networks. The platform does create 5G-Advanced (5G-A ) and 5G technology, edge, and multi-cloud computing more visible to Malay businesses, accelerating modern transformation across different sectors such as manufacturing, transportation, healthcare, and public services.

The Ministry of Science, Technology, and Innovation ( MOSTI ) hosted the Malaysia Commercialization Year (MCY ) Summit 2024, a ceremony that formally established the partnership. At the Maxis booth, Goh Seow Eng, CEO of Maxis, and Manoj Prasanna Kumar, CTO of Singtel Digital InfraCo, signed a Memorandum of Understanding ( MoU).

Made available in Malaysia through Maxis ‘ business arm, Maxis Business, the system did help’ on-demand ‘ top computing services, providing customers with access to low-latency computing, GPU as a Service, and storage. With its multi-access edge computing ( MEC ) capabilities, data from end-users and devices can be processed at the edge. This, combined with Artificial Intelligence ( AI), provides real-time processing and intelligent decision-making.

With the click of a button, businesses can create network slices on-demand and deploy mission-critical 5G applications on MEC with the help of Paragon’s powerful marketplace, which Maxis customers and partners can access for both customers and partners.

Our collaboration addresses customer needs, according to Goh Seow Eng, by offering a unified 5G platform that makes orchestration simpler across network and cloud environments. The platform gives businesses greater access, speed, and flexibility to seamlessly deploy and manage 5G and cloud computing solutions. This will enable them to concentrate on their main line of business, boosting their standing on the global stage. We as the leading integrated telco in the nation anticipate accelerating the adoption of 5G-A and 5G and the digitalization of Malaysian businesses as the preferred digital business partner.

Meanwhile, Bill Chang, CEO of Singtel Digital InfraCo, said,” We’ve seen a strong shift in demand from enterprises for 5G and edge computing capabilities to accelerate their digital transformation. Singtel has been in the forefront of this development, creating various strategic alliances with telcos around the world, with Paragon playing a key role in this development.

He continued, adding that Paragon makes it easier for telcos to deliver and scale 5G use cases, and that the company is pleased to work with Maxis to expand and strengthen the service opportunities of 5G and edge monetisation in Malaysia.

The platform’s capabilities can benefit businesses through a wide range of enterprise applications across different verticals that require high-speed data processing, such as real-time analytics, mixed reality, and autonomous systems. To meet the cybersecurity and data sovereignty needs of Malaysian businesses, the platform will be hosted and deployed locally.

In four ASEAN markets, Paragon’s platform creation and power have now been successfully used. With Maxis bringing this capability exclusively to Malaysia, it will be simple for multinational corporations to operate with ease, with a shared goal, and with a unified architecture throughout the region. Given Malaysia’s upcoming ASEAN chairmanship in 2025, where the country will play a more active role in leading the regional bloc’s economic and digital aspirations, the move is appropriate.

This collaboration demonstrates Maxis ‘ commitment to bringing innovation to the market and enabling Industry 4.0 transformation through practical use cases. In addition to 5G and cloud-native solutions, this commitment includes leading the development of next-generation solutions in Malaysia around AI and Generative AI, the Internet of Things, and 5G-Advanced technology.

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Freed Japanese exec arrives in Bangkok after conviction in Myanmar

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In fine health, the prisoner arrives in Bangkok and is shortly to travel back to Japan.

PUBLISHED: 14 Aug 2024 at 11: 08

An Aeon Orange supermarket in Yangon, Myanmar. (Photo: Kyodo)
An Aeon Orange retailer in Yangon, Myanmar. ( Photo: Kyodo )

A joint venture of Chinese retailer network Aeon Company in Myanmar has released an executive who was found guilty of breaking the country’s military-style rice pricing laws, according to political resources.

Hiroshi Kasamatsu, aged 53, the products section commander of Aeon Orange Co, arrived in Bangkok from Yangon the same day without any major health problems, they said.

He was convicted, sentenced to one time in jail and fined on Monday. People with knowledge of the situation said he was being freed, but it was n’t immediately understood, adding that he is expected to be back in Japan soon.

Kasamatsu was detained in Yangon on June 30 for questioning, and he was charged on July 11, 2024.

In the first instance in which a Chinese banker was found guilty in connection with business engagement since its defense staged a coup in February 2021, ousting its civil state, in the Southeast Asian nation.

According to the military, Kasamatsu was detained for selling corn at charges up to 70 % higher than the level mandated by authorities.

Local media reported that dozens of Myanmar sellers of various products, including gasoline and cooking fuel, were detained in May and June for breaking price restrictions, with many of them never already released.

In contrast to Western nations, Japan’s decision to not impose restrictions on the defense or associated individuals and groups since the revolution led to the arrest of a Japanese-affiliated business established in Myanmar.

Following the coup, popular demonstrations against the military government turned into a violent conflict between the coup and opposition forces, which included pro-democracy armed groups and ethnic minority separatists, ravaging Myanmar’s business.

The dictatorship even established a research transfer rate for the kyat, which has weakened tremendously since the revolution, and attempted to stabilise marketplaces by setting the prices of essential goods, including grain.

Some retailers are breaking the rules to minimize losses because of the lower official prices.

Creation Myanmar Group of Companies and Aeon Orange became independent businesses in 2016.

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