Business

Xi Jinping’s Leadership Challenges for the CCP’s stability
2Oct By Yusara AskariNo Comments
Business, Opinion, Politics, World

Xi Jinping’s Leadership Challenges for the CCP’s stability

In his opinion Glenn Tiffert, a historian at the Hoover Institution at Stanford University brought forth Xi Jinping’s feared that the CCP might eventually disintegrate like Soviet Communists and “this seems to be a problem that he paid special attention to from the beginning.” Xi Jinping, therefore, wanted to avoid the path of destruction of the Communist Party of Soviet Union and this manifested in his tightening of his grip over the Party. In November 2019, the BBC Chinese website published an article stated that “China under Xi Jinping may embark on the old path of Brezhnev, former General Secretary of the CPSU.” It is believed that after Brezhnev came to power, Khrushchev’s reforms and liberalisation commitments ended, and the state’s centralised control was strengthened. This is s
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Disease law set for change
2Oct By Desk TeamNo Comments
Business, Singapore, World

Disease law set for change

Teenagers are vaccinated against Covid-19 at Vachira Hospital in Bangkok on Tuesday. (Photo: Pattarapong Chatpattarasill) The cabinet has approved a draft amendment to the 2015 Communicable Disease Act, seen as a new mechanism to replace the emergency decree in the country's ongoing battle against Covid-19. The state of emergency, declared under the emergency decree to facilitate the government's outbreak containment efforts, is due to expire at the end of this month when the amended disease control law is expected to be enacted. The Centre for Covid-19 Situation Administration (CCSA), established under Section 7 of the emergency decree, will technically no longer exist if the state of emergency isn't renewed at the end of this month. However, in practice, the CCSA will continue to fun...
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China, US unveil separate big steps to fight climate change
1Oct By Desk TeamNo Comments
Business, China, Politics, World

China, US unveil separate big steps to fight climate change

The two biggest economies and largest carbon polluters in the world announced separate financial attacks on climate change Tuesday. Chinese President Xi Jinping said his country will no longer fund coal-fired power plants abroad, surprising the world on climate for the second straight year at the U.N. General Assembly. That came hours after U.S. President Joe Biden announced a plan to double financial aid to poorer nations to $11.4 billion by 2024 so those countries could switch to cleaner energy and cope with global warming’s worsening impacts. That puts rich nations close to within reach of its long-promised but not realized goal of $100 billion a year in climate help for developing nations. “This is an absolutely seminal moment,” said Xinyue Ma, an expert on energy development finance
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Mitsubishi invests in Laos wind farm project, biggest in SE Asia
1Oct By Desk TeamNo Comments
Asia, Business, World

Mitsubishi invests in Laos wind farm project, biggest in SE Asia

Mitsubishi invests in Laos wind farm project, biggest in SE Asia BCPG’s wind power facilities in Nakhon Si Thammarat. The company joins other companies in developing a wind farm in southern Laos. (BCPG photo) Japanese trading house Mitsubishi Corp has invested in a massive wind power plant project in Laos to deliver electricity to Vietnam, in what would be the biggest onshore wind farm in Southeast Asia. Mitsubishi said in a recent press release that the 600-megawatt wind power plant in Sekong and Attapeu provinces in southern Laos, a first for the country, will be developed by Hong Kong-based Impact Energy Asia Development Ltd, or IE, from next year, with operations planned to start in 2025. The onshore wind farm project, also described as the "first cross-border electricity interchan
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China misrepresenting the data
27Sep By News DeskNo Comments
Business, China, Conflict, Opinion

China misrepresenting the data

New Delhi: According to the Doing Business Project, which began in 2002, the regulations that apply to small and medium-sized businesses are evaluated over the course of their entire life cycle. Researchers collected data on the effectiveness of business regulations in 190 different economies, selected cities at subnational and national levels, as part of the doing business project. Several inconsistencies have been discovered with regards to data changes in the doing business 2018 and doing business 2020 reports, which were released in October 2017 and April 2019, respectively. A statement from the World Bank said the data changes were not in line with its business methodology. In addition, it stated that "we have asked the World Bank Group's independent Internal Audit function to con...
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China’s state media tries to reassure investors over crackdown
26Sep By Desk TeamNo Comments
Business, China, World

China’s state media tries to reassure investors over crackdown

China's state media tries to reassure investors over crackdown China has cracked down on a range of sectors as part of a drive to tighten its grip on the economy, while Xi Jinping has set his sights on the country's uber-rich, calling for 'common prosperity'. BEIJING: China's recent clampdowns on a range of industries including tech firms and the education sector will not detract from its goal of opening up the economy, state media said Wednesday, as Beijing rushes to reassure rattled investors. Sweeping regulatory changes over the past months have targeted everything from monopolistic behaviour to data security, rattling share prices and wiping billions off companies' valuations. Authorities have ordered some of China's biggest tech firms to stop "disorderly expansion", scuppered the ...
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Bad faith, beads and trinkets negotiations by DFO obstructs court-affirmed fishery, say First Nations
25Sep By Desk TeamNo Comments
Business, Opinion, World

Bad faith, beads and trinkets negotiations by DFO obstructs court-affirmed fishery, say First Nations

The lack of good faith negotiations by Fisheries and Oceans Canada in its dealing with five First Nations on the West Coast could result in the criminalization of Nuu-chah-nulth fishers who exercise their court-affirmed right to a commercial fishery, asserts First Nations leadership. “The federal department of Fisheries and Oceans (DFO) continues to stonewall negotiations and acts as if it is above the law,” reads an Aug. 24 press release from the five nations impacted—Ahousaht, Hesquiaht, Ehattesaht/Chinehkint, Mowachaht/Muchalaht and Tla-o-qui-aht. The nations have said they will fish according to their own fishing plans—pitting Nuu-chah-nulth fishers against DFO officers patrolling Nuu-chah-nulth waters—because DFO hasn’t come to the table to negotiate a plan for the season. “The Can
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Hong Kong dismisses business pushback over ‘zero-Covid’ strategy
25Sep By Desk TeamNo Comments
Business, Singapore, World

Hong Kong dismisses business pushback over ‘zero-Covid’ strategy

Hong Kong dismisses business pushback over 'zero-Covid' strategy International companies choose Hong Kong for its regional access, low taxes, legal system and financial services. HONG KONG: Hong Kong's leader doubled down on her zero-Covid strategy on Tuesday, brushing off growing pushback from the business community over the city's indefinite international isolation. The European Chamber of Commerce in Hong Kong wrote a rare open letter to Chief Executive Carrie Lam earlier this month warning that the finance hub's business reputation was at risk and residents were "indefinitely trapped". But Lam said there are no plans to change course, reinforcing concerns that there is no current end in sight to travel restrictions. "Now the most important defence is to prevent importation of case...
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Today’s coronavirus news: Ontario reporting 486 new cases of COVID-19; Iran reports daily record for deaths; Quebec reports 345 new COVID-19 cases
24Sep By Desk TeamNo Comments
Business, World

Today’s coronavirus news: Ontario reporting 486 new cases of COVID-19; Iran reports daily record for deaths; Quebec reports 345 new COVID-19 cases

The latest coronavirus news from Canada and around the world Tuesday. This file will be updated throughout the day. Web links to longer stories if available. 7:46 p.m.: More than 500 people in B.C.’s Interior Health region will need to get another COVID-19 vaccine shot after officials there say some of the doses were kept in an incorrect freezer. A statement from the health authority says the vaccine shots are considered invalid. The vaccine was given to 15 people for a first shot and 501 people got their second dose with the invalid vaccine. The region says while it may have provided some protection from COVID-19, the authority is contacting each person to come back. It says receiving the vaccine doesn't pose a risk to the person and no one given the shots got COVID-19 since their im
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US and China should continue talks
24Sep By Desk TeamNo Comments
Business, China, World

US and China should continue talks

US and China should continue talks The United States last Wednesday took a major step in challenging China's massive influence in Asia by announcing a plan to help Australia acquire nuclear-powered submarines that could eventually make their way into contested waters claimed by Beijing. The new three-way partnership involving the US, the UK and Australia -- known as AUKUS -- is seen as helping expand the Western presence in the region and specifically addressing the growing challenges Australia has been facing from China. Under the plan, Australia may begin conducting routine patrols that could move through areas of the South China Sea that China claims -- over the objections of four Southeast Asian states -- and range as far north as Taiwan. The announcement, made in a virtual meeting ...
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