Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
13 December 2019
In today’s bulletin: British Prime Minister Boris Johnson’s big win in UK elections and prospects of a Phase One deal between the United States and China lifts sentiments in Asian markets; reports hint that Chinese President Xi Jinping might have financial rewards for protest-free Macau when he travels there next week; trouble in India’s north-east could have a bearing on Japanese Prime Minister Shinzo Abe’s visit to India; and more.
BORIS WIN, TRUMP-XI TRADE DEAL LIFT ASIAN SENTIMENTS
It was a day of double relief for Asian markets on Friday with reports pointing to a partial trade deal between the United States and China on the anvil which, if it goes through, might mean that new US tariffs on Chinese goods, that are due to be enforced on Dec 15, might be averted. Alongside, polls in the United Kingdom showed British Prime Minister Boris Johnson’s Conservative Party heading for a clear majority, lifting market sentiments further. The two reports cleared some of the uncertainty on the two issues and saw Asian shares scale eight-month peaks on Friday. However, a formal announcement of the deal between the US and China is still awaited and observers will be waiting to see the fallout as Britain pulls out of the European Union.
Catch up:
China to buy US$50 billion in US farm products in return for tariff concessions: US sources
British election: Boris Johnson’s instincts on early polls vindicated
CHINA XI’S TO MAKE MACAU A FINANCIAL HUB
Will Macau become a financial centre next to Hong Kong? Reports hint that the casino-dependent city is set to get some gifts from Chinese President Xi Jinping, who is due to visit next week to mark the 20th anniversary of Macau’s return to China. The absence of protests in the city seems to have pleased China.
Read more:
China picks new leaders for Macau, replaces economy chief
Macau casinos under threat as S-E Asia lures high-rollers
ABE MIGHT CANCEL INDIA VISIT GIVEN FURORE IN COUNTRY’S NORTH-EAST
Japanese Prime Minister Shinzo Abe might look at rescheduling his visit to India to meet Prime Minister Narendra Modi, reports say. He was due to be in India from Sunday to Tuesday and the meeting was to take place in Guwahati, Assam in India’s north-east, which is the epicentre of the protests in recent days. Protests broke out after India’s upper house of Parliament passed a controversial citizenship Bill.
Also read:
Bangladesh-India ‘golden’ ties rocked by India’s new citizenship law
Religion-based Bill further polarises India
India protest hotspot Guwahati offline as two demonstrators are shot dead
HAS MYANMAR REALLY CHANGED?
Myanmar emerged from decades of military rule in 2011 to form a hybrid government. But in many ways it failed to live up to the promises of democracy. Are there grounds for optimism? US Bureau Chief Nirmal Ghosh discusses this with historian, author and conservationist Thant Myint-U, who has just released a new book, in our latest Asian Insider video.
Don’t miss:
Myanmar running out of time to cope with climate change, warns historian Thant Myint-U
Aung San Suu Kyi rapped for ‘silence’ over genocide claims against Myanmar
Genocide court case risks ‘reignition’ of Rohingya crisis, says Aung San Suu Kyi
INDONESIA’S TINY GLACIERS TO MELT IN A DECADE
Tiny glaciers can be found in tropical Indonesia, in the Papua region. But in 10 years time, these glaciers may not be visible any more, says a new research study, underscoring the threat posed by climate change. Earlier estimates suggested the Papua glaciers have shrunk by some 85 per cent in the past few decades.
Go deeper:
Iceland commemorates first glacier lost to climate change
Climate of Change: Special reports by ST correspondents
IN OTHER NEWS
JOKOWI’S SON TO ENTER POLITICS: Indonesian President Joko Widodo’s son Gibran Rakabuming Raka has announced his intention to join the race for mayor of Central Java’s city of Solo in a move that has stoked discussions on whether this would mean the building of a political dynasty in the country. Regional elections are due to be held next year.
QANTAS CHOOSES AIRBUS: Qantas Airlines will purchase about a dozen new Airbus planes for the new ultra long-haul route between Sydney and London that it plans to launch next year. It’s decision to opt for the A350-1000 over Boeing’s 777X will be a blow to the American plane maker.
HONG KONG OVERTIME PAY FOR POLICE: The Hong Kong government paid overtime charges amounting to almost HK$950 million (S$164 million) to over 11,000 officers deployed during the protests that took place from June to November, a document posted on social media shows.
MALAYSIA TO CLAIM US$7.5B FROM GOLDMAN SACHS: Malaysia will file criminal charges against Goldman Sachs Group next year for losses incurred in the 1Malaysia Development Berhad scandal to be able to claim payment of US$7.5 billion, Finance Minister Lim Guan Eng said. The Attorney General had told him that the case will be heard in court in the middle of next year, he added.
These insights are produced by The Straits Times, the official media partner for the Asia House Global Trade Dialogue, which took place in Singapore on 7 November 2019.
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