Asia (except ME & Indian SC)

Philippines blames Western countries over failing to keep climate financing promises

MANILA, March 10 (Xinhua) -- The Philippines has decided to pursue "practical and localized" projects of climate action, blaming the U.S. and other industrialized nations for failing to keep their promises of climate financing made years ago, its Department of Finance said on Thursday.

S. Korean president-elect pledges tougher stance on N. Korea

SEOUL, South Korea (AP) — South Korean President-elect Yoon Suk Yeol said Thursday he will solidify an alliance with the United States, build a powerful military and sternly cope with North Korean provocations, hours after he won a hard-fought election to become the country’s next leader.

China calls on Washington to unveil bio-labs in Ukraine

9 March 2022; MEMO: A spokesperson for the Chinese foreign ministry said yesterday that Beijing is urging Washington to disclose details of US-funded biological labs in Ukraine. The spokesman demanded disclosure of the types of viruses stored in these labs, as well as details of the research conducted in them. Given the nature of the current situation in Ukraine, he added, all parties should ensure the safety of the labs.

Huge Potential For Malaysian Companies In Egypt’s New Capital City, SCZone Projects — Ambassador

KUALA LUMPUR, March 9 (NNN-Bernama) — Egypt’s New Administrative Capital and the Suez Canal Economic Zone (SCZone) projects offer various opportunities for Malaysian businessmen to explore, said Egypt’s ambassador to Malaysia Ragai Nasr.

He said the big potential for the Malaysian companies in the new capital city will be in sectors such as construction, advanced technologies, business parks, smart cities, and renewable energy.

Nasr said Egypt considers these two mega projects as among the great landmarks in the development of the Egyptian economy in modern history.

Cambodia, Int'l Finance Corporation promote mediation to resolve commercial disputes

PHNOM PENH, March 9 (Xinhua) -- Cambodia's National Commercial Arbitration Center (NCAC) and the International Finance Corporation (IFC) are promoting mediation to resolve business disputes and build investors' trust in commercial litigations, said a joint statement on Wednesday.

The effort is aimed at helping improve Cambodia's investment climate while supporting businesses to recover from the impacts of COVID-19 and continue job creation, the statement said.

Asia stocks mixed after Wall St falls, US bans Russian oil

BEIJING (AP) — Most Asian stock markets rebounded Wednesday following Wall Street’s decline while Chinese shares sank after inflation edged higher.

Already high oil prices rose further, adding more than $2 per barrel following President Joe Biden’s ban on imports of Russian crude.

Tokyo, Sydney and Southeast Asian markets gained. Shanghai and Hong Kong retreated. South Korean markets were closed for a presidential election.

Hong Kong leader says no fixed time frame for mass testing

HONG KONG (AP) — Hong Kong leader Carrie Lam said Wednesday that reducing the skyrocketing number of deaths in the latest coronavirus surge is the city’s priority, putting a plan to test the entire population on hold in the latest flip-flop in the government’s pandemic response.

Lam said there is “no specific time frame” for a citywide testing, two weeks after she announced it would happen this month. Her earlier announcement, coupled with rumors of an accompanying lockdown of the city, left store shelves bare as residents stockpiled daily necessities.

Subscribe to Asia (except ME & Indian SC)