Japan’s Honda and Nissan merge to form world’s third-largest carmaker, amid EV transition
By Associated Press
Japanese carmakers Honda and Nissan have announced plans to join forces, forming the world’s third-largest carmaker by sales, as the industry undergoes dramatic changes in its transition away from fossil fuels, and aggressive competition from China forces legacy carmakers to rethink their business models.
The two companies said they had signed a memorandum of understanding on Monday, and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses.
“We anticipate that if this integration comes to fruition, we will be able to deliver even greater value to a wider customer base,” Nissan’s CEO Makoto Uchida said in a statement.
Carmakers in Japan have lagged behind their big rivals in electric vehicles and are trying to cut costs and make up for lost time.
In China, the soaring popularity of locally made EVs has foreign brands fighting for survival, and Japanese carmakers there are stuck with too much capacity.
News of a possible merger surfaced earlier this month, with unconfirmed reports saying that the talks on closer collaboration partly were driven by aspirations of Taiwan iPhone maker Foxconn to tie up with Nissan, which has an alliance with Renault SA of France and Mitsubishi.
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By Associated Press
Japanese carmakers Honda and Nissan have announced plans to join forces, forming the world’s third-largest carmaker by sales, as the industry undergoes dramatic changes in its transition away from fossil fuels, and aggressive competition from China forces legacy carmakers to rethink their business models.
The two companies said they had signed a memorandum of understanding on Monday, and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses.
“We anticipate that if this integration comes to fruition, we will be able to deliver even greater value to a wider customer base,” Nissan’s CEO Makoto Uchida said in a statement.
Carmakers in Japan have lagged behind their big rivals in electric vehicles and are trying to cut costs and make up for lost time.
In China, the soaring popularity of locally made EVs has foreign brands fighting for survival, and Japanese carmakers there are stuck with too much capacity.
News of a possible merger surfaced earlier this month, with unconfirmed reports saying that the talks on closer collaboration partly were driven by aspirations of Taiwan iPhone maker Foxconn to tie up with Nissan, which has an alliance with Renault SA of France and Mitsubishi.
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Australia’s South Asians hail inclusion of caste discrimination in anti-racism framework
By Sonia Sarkar
When Sydney-based IT professional Devi asked someone from her company for another colleague’s phone number last year, she was told that the colleague was from an upper-caste family, implying she should be mindful of his status before approaching him.
“The response was uncalled for because I was not concerned about other people’s caste,” Devi, who goes by one name and originally hails from India’s Tamil Nadu state, told This Week In Asia. “It was specifically told to me because I belong to a caste-oppressed community.”
Such taunts based on caste – a rigid social stratification system in South Asia that assigns individuals their social standing at birth – now face greater scrutiny in Australia due to new measures aimed at curbing them.
Australia’s Human Rights Commission (AHRC) included caste discrimination in the national anti-racism framework for the first time last month. This enables the government, police, public institutions, businesses and community organisations to introduce measures against faith and caste-based discrimination and avenues for legal protections in areas such as housing, education and culture.
Devi believes including caste discrimination in the anti-racism framework will encourage companies to address the issue in their human resource policies and empower employees facing discrimination to make formal complaints.
“This framework will raise awareness, and those flaunting their caste at workplaces will stop doing it,” said Devi, who also sits on the executive committee of the Canberra-based advocacy organisation Periyar Ambedkar Thoughts Circle of Australia (PATCA), which aims to eradicate caste-based discrimination.
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By Sonia Sarkar
When Sydney-based IT professional Devi asked someone from her company for another colleague’s phone number last year, she was told that the colleague was from an upper-caste family, implying she should be mindful of his status before approaching him.
“The response was uncalled for because I was not concerned about other people’s caste,” Devi, who goes by one name and originally hails from India’s Tamil Nadu state, told This Week In Asia. “It was specifically told to me because I belong to a caste-oppressed community.”
Such taunts based on caste – a rigid social stratification system in South Asia that assigns individuals their social standing at birth – now face greater scrutiny in Australia due to new measures aimed at curbing them.
Australia’s Human Rights Commission (AHRC) included caste discrimination in the national anti-racism framework for the first time last month. This enables the government, police, public institutions, businesses and community organisations to introduce measures against faith and caste-based discrimination and avenues for legal protections in areas such as housing, education and culture.
Devi believes including caste discrimination in the anti-racism framework will encourage companies to address the issue in their human resource policies and empower employees facing discrimination to make formal complaints.
“This framework will raise awareness, and those flaunting their caste at workplaces will stop doing it,” said Devi, who also sits on the executive committee of the Canberra-based advocacy organisation Periyar Ambedkar Thoughts Circle of Australia (PATCA), which aims to eradicate caste-based discrimination.
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Malaysian police hunt for football hooligans after attack on Singapore fans
By Joseph Sipalan
Malaysia’s police are searching for up to 30 people believed to have been involved in a brawl between supporters of the Malaysian and Singaporean national football teams after a match last week, which resulted in damage to a train at an LRT stop in Kuala Lumpur.
Footage of the incident went viral on Saturday after a group of people believed to be supporters of Malaysia’s national team attacked the train at the Bandar Tasek Selatan station, just a few stops from the Bukit Jalil stadium where the match was held the previous night.
Police on Sunday said they have identified the suspects believed to have been involved in the brawl through CCTV footage from LRT stations, trains and the stadium.
“We have identified the suspects and will be arresting and interrogating them in the next couple of days,” Cheras police chief Aidil Bolhassan was quoted as saying by local news portal Scoop. “It took some time due to the large crowd that attended the game.”
Police are investigating the case for rioting and committing public mischief, Aidil said.
While the incident caused some damage to the train no injuries were reported.
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By Joseph Sipalan
Malaysia’s police are searching for up to 30 people believed to have been involved in a brawl between supporters of the Malaysian and Singaporean national football teams after a match last week, which resulted in damage to a train at an LRT stop in Kuala Lumpur.
Footage of the incident went viral on Saturday after a group of people believed to be supporters of Malaysia’s national team attacked the train at the Bandar Tasek Selatan station, just a few stops from the Bukit Jalil stadium where the match was held the previous night.
Police on Sunday said they have identified the suspects believed to have been involved in the brawl through CCTV footage from LRT stations, trains and the stadium.
“We have identified the suspects and will be arresting and interrogating them in the next couple of days,” Cheras police chief Aidil Bolhassan was quoted as saying by local news portal Scoop. “It took some time due to the large crowd that attended the game.”
Police are investigating the case for rioting and committing public mischief, Aidil said.
While the incident caused some damage to the train no injuries were reported.
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China’s security ministry says foreign spies are slandering revolutionary heroes online
By Yuanyue Dang
China’s leading anti-spy agency has blamed foreign agents for comments on social media that it says distort history and “slander” revolutionary heroes.
“There are foreign spy agencies flooding online comment sections with unofficial and fake history about our country’s historical heroes, trying to discredit and slander our historical culture and heroic role models, and dispel people’s admiration for heroes and their identification with our historical culture,” the Ministry of State Security said in a social media post on Monday.
The post on the ministry’s official WeChat account warned that “some foreign spy agencies” are “stealing state secrets, disrupting online order and posing a threat to national security”.
Foreign spies pretend to be interested in politics, military matters, economics or science and technology and try to steal information by interacting with social media users, the ministry said.
It said officers had discovered that spies were using “manual screening or algorithmic capture” to entice people to post sensitive information such as the “parameters, serial numbers and developers of our research equipment” in the comments under a video about a “certain Chinese technology project”.
The spies also recruit trolls or use bots to “recklessly fabricate and spread false statements that discredit our government and policies”, the ministry added.
The security ministry has become increasingly active on social media with warnings about the risk posed by foreigners.
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By Yuanyue Dang
China’s leading anti-spy agency has blamed foreign agents for comments on social media that it says distort history and “slander” revolutionary heroes.
“There are foreign spy agencies flooding online comment sections with unofficial and fake history about our country’s historical heroes, trying to discredit and slander our historical culture and heroic role models, and dispel people’s admiration for heroes and their identification with our historical culture,” the Ministry of State Security said in a social media post on Monday.
The post on the ministry’s official WeChat account warned that “some foreign spy agencies” are “stealing state secrets, disrupting online order and posing a threat to national security”.
Foreign spies pretend to be interested in politics, military matters, economics or science and technology and try to steal information by interacting with social media users, the ministry said.
It said officers had discovered that spies were using “manual screening or algorithmic capture” to entice people to post sensitive information such as the “parameters, serial numbers and developers of our research equipment” in the comments under a video about a “certain Chinese technology project”.
The spies also recruit trolls or use bots to “recklessly fabricate and spread false statements that discredit our government and policies”, the ministry added.
The security ministry has become increasingly active on social media with warnings about the risk posed by foreigners.
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Why there’s no end in sight to Singapore’s property cooling measures
By Nicholas Spiro
In Hong Kong, long-standing measures to dampen speculative demand in the city’s residential property market were belatedly scrapped in February in an effort to help reverse a prolonged slump in prices and transactions. Yet since the beginning of this year, second-hand house prices have fallen a further 6.1 per cent.
Singapore has the opposite problem. Successive rounds of cooling measures since the Covid-19 pandemic erupted have failed to take the heat out of parts of its housing market. This is fuelling speculation over when the next round of restrictions – the first set of cooling measures was introduced in 1996 – is likely to be imposed.
Last month, sales of new private homes surged to their highest level since March 2013. Developers sold 2,557 units, more than in the previous six months combined and an increase of 226 per cent compared with November 2023. While the remarkable sales performance was driven largely by the launch of six new projects, it was enough to prompt renewed talk of another round of cooling measures.
Although speculation over the timing of new curbs is a national fixation in Singapore, previous spikes in transactions were often followed by sharp rises in prices, triggering government intervention. Prices of private properties, while having slowed significantly this year, still stand at a record high. “Everyone’s a bit edgy about how prices are staying at these levels despite all the cooling measures,” said Christine Sun, chief researcher and strategist at OrangeTee Group.
This has focused attention on the effectiveness of the regulations, which include tighter restrictions on mortgage lending, higher taxes (especially for non-residents and those buying their second, third and subsequent properties) and measures to discourage property flipping.
One of the problems is diminishing returns. Singaporean citizens have grown accustomed to the government’s repeated attempts to cool the housing market and have found ways to circumvent some of the restrictions.
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By Nicholas Spiro
In Hong Kong, long-standing measures to dampen speculative demand in the city’s residential property market were belatedly scrapped in February in an effort to help reverse a prolonged slump in prices and transactions. Yet since the beginning of this year, second-hand house prices have fallen a further 6.1 per cent.
Singapore has the opposite problem. Successive rounds of cooling measures since the Covid-19 pandemic erupted have failed to take the heat out of parts of its housing market. This is fuelling speculation over when the next round of restrictions – the first set of cooling measures was introduced in 1996 – is likely to be imposed.
Last month, sales of new private homes surged to their highest level since March 2013. Developers sold 2,557 units, more than in the previous six months combined and an increase of 226 per cent compared with November 2023. While the remarkable sales performance was driven largely by the launch of six new projects, it was enough to prompt renewed talk of another round of cooling measures.
Although speculation over the timing of new curbs is a national fixation in Singapore, previous spikes in transactions were often followed by sharp rises in prices, triggering government intervention. Prices of private properties, while having slowed significantly this year, still stand at a record high. “Everyone’s a bit edgy about how prices are staying at these levels despite all the cooling measures,” said Christine Sun, chief researcher and strategist at OrangeTee Group.
This has focused attention on the effectiveness of the regulations, which include tighter restrictions on mortgage lending, higher taxes (especially for non-residents and those buying their second, third and subsequent properties) and measures to discourage property flipping.
One of the problems is diminishing returns. Singaporean citizens have grown accustomed to the government’s repeated attempts to cool the housing market and have found ways to circumvent some of the restrictions.
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Builder Jinke Property reveals details of court-supervised debt restructuring plan
By Bloomberg
Chinese developer Jinke Property Group has revealed details of its court-supervised onshore debt restructuring programme to some of its creditors, people familiar with the matter said.
Under the plan, the Chongqing-based company would make cash payments of as much as 50,000 yuan ($6,851) to each bondholder, the people said. Those payments would come after it receives 1.8 billion yuan from a group of two local firms serving as a white knight for the restructuring, the people said, which is still subject to creditor and court approval.
The remainder of the debt would be repaid via a debt-to-equity swap and a trust product, the people said. Each bondholder would receive about 2.5 shares of Jinke and an expected 1.9 yuan in the trust for every 100 yuan of debt principal, the people said. Jinke shares were trading at 1.64 yuan Monday morning, according to Bloomberg data.
If the plan is successful, Jinke, which was once China’s 25th largest developer by contracted sales, could offer a restructuring road map for other companies struggling to repay debt. But if creditors do not give their backing, the company’s risk of liquidation could rise.
Under the plan, Jinke would set up an eight-year trust for debt payment backed by shares in 20 subsidiaries. The 20 subsidiaries manage more than 200 Jinke projects across the country, one of the people said.
There could also be a second round of repayment via shares and the trust, but details are unclear, the people said.
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By Bloomberg
Chinese developer Jinke Property Group has revealed details of its court-supervised onshore debt restructuring programme to some of its creditors, people familiar with the matter said.
Under the plan, the Chongqing-based company would make cash payments of as much as 50,000 yuan ($6,851) to each bondholder, the people said. Those payments would come after it receives 1.8 billion yuan from a group of two local firms serving as a white knight for the restructuring, the people said, which is still subject to creditor and court approval.
The remainder of the debt would be repaid via a debt-to-equity swap and a trust product, the people said. Each bondholder would receive about 2.5 shares of Jinke and an expected 1.9 yuan in the trust for every 100 yuan of debt principal, the people said. Jinke shares were trading at 1.64 yuan Monday morning, according to Bloomberg data.
If the plan is successful, Jinke, which was once China’s 25th largest developer by contracted sales, could offer a restructuring road map for other companies struggling to repay debt. But if creditors do not give their backing, the company’s risk of liquidation could rise.
Under the plan, Jinke would set up an eight-year trust for debt payment backed by shares in 20 subsidiaries. The 20 subsidiaries manage more than 200 Jinke projects across the country, one of the people said.
There could also be a second round of repayment via shares and the trust, but details are unclear, the people said.
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Gruesome deaths of cats at Malaysian campus spark outrage from animal lovers
By Hadi Azmi
Malaysian animal lovers are questioning a police claim that wild dogs were responsible for the gruesome deaths of six cats on the campus of Universiti Malaya (UM) in Kuala Lumpur, with a scramble over the weekend to rescue other strays from further attacks.
Public outrage erupted last week after social media users shared disturbing images of the dead cats, some severely mutilated and missing limbs.
Animal rights activists and members of the public have descended upon the campus over the weekend and rescued 22 other cats out of fear they could be targeted next.
Responding to several complaints about the incident, the Royal Malaysian Police said the matter had been referred to the Department of Veterinary Services (DVS), which indicated it was the work of wild dogs.
“Based on security footage in the area where the incident took place, it was shown there were a pack of wild dogs who attacked the cats,” police said on Sunday.
However, many questioned this explanation, arguing the injuries appeared too precise to be caused by dogs.
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By Hadi Azmi
Malaysian animal lovers are questioning a police claim that wild dogs were responsible for the gruesome deaths of six cats on the campus of Universiti Malaya (UM) in Kuala Lumpur, with a scramble over the weekend to rescue other strays from further attacks.
Public outrage erupted last week after social media users shared disturbing images of the dead cats, some severely mutilated and missing limbs.
Animal rights activists and members of the public have descended upon the campus over the weekend and rescued 22 other cats out of fear they could be targeted next.
Responding to several complaints about the incident, the Royal Malaysian Police said the matter had been referred to the Department of Veterinary Services (DVS), which indicated it was the work of wild dogs.
“Based on security footage in the area where the incident took place, it was shown there were a pack of wild dogs who attacked the cats,” police said on Sunday.
However, many questioned this explanation, arguing the injuries appeared too precise to be caused by dogs.
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Nearly 400,000 Hongkongers leave city on December 22, up 15% from last year
By Edith Lin
Hong Kong residents embarked on nearly 400,000 outbound trips on Sunday ahead of the Christmas holiday, an increase of 15 per cent from the same day last year, with short-haul trips to Taiwan, Japan and Thailand remaining popular destinations.
Meanwhile, the travel industry is gearing up for the coming year by developing packages to new mainland Chinese destinations, with Hong Kong set to launch direct high-speed rail routes to certain locations from January 5.
“High-speed rail trips are gaining popularity. The fixed ticket prices on weekdays and holidays also make it easier for travel agencies to plan their products,” Timothy Chui Ting-pong, executive director of the Hong Kong Tourism Association, told a radio show on Monday.
According to figures released by the Immigration Department on Monday, Hong Kong recorded a total of 595,119 outbound trips on the previous day, of which 396,849, or 67 per cent, were Hongkongers. The number of outbound trips by locals was a 15 per cent increase from the 344,836 recorded on December 22 last year.
On Sunday, the city also logged a total of 544,593 inbound passenger trips comprising 369,328 Hong Kong residents and 135,515 mainland ones.
Starting from January 5 next year, the city’s high-speed rail service will launch a new long-haul route to Xian, the capital of Shaanxi province, and introduce new destinations including Suzhou in Jiangsu province and Meizhou in Guangdong province.
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By Edith Lin
Hong Kong residents embarked on nearly 400,000 outbound trips on Sunday ahead of the Christmas holiday, an increase of 15 per cent from the same day last year, with short-haul trips to Taiwan, Japan and Thailand remaining popular destinations.
Meanwhile, the travel industry is gearing up for the coming year by developing packages to new mainland Chinese destinations, with Hong Kong set to launch direct high-speed rail routes to certain locations from January 5.
“High-speed rail trips are gaining popularity. The fixed ticket prices on weekdays and holidays also make it easier for travel agencies to plan their products,” Timothy Chui Ting-pong, executive director of the Hong Kong Tourism Association, told a radio show on Monday.
According to figures released by the Immigration Department on Monday, Hong Kong recorded a total of 595,119 outbound trips on the previous day, of which 396,849, or 67 per cent, were Hongkongers. The number of outbound trips by locals was a 15 per cent increase from the 344,836 recorded on December 22 last year.
On Sunday, the city also logged a total of 544,593 inbound passenger trips comprising 369,328 Hong Kong residents and 135,515 mainland ones.
Starting from January 5 next year, the city’s high-speed rail service will launch a new long-haul route to Xian, the capital of Shaanxi province, and introduce new destinations including Suzhou in Jiangsu province and Meizhou in Guangdong province.
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HSBC’s PayMe now accepted by 27,000 Hong Kong taxi drivers
By Willa Wu
About 27,000 Hong Kong taxi drivers will be able to receive payments through the PayMe service on their mobile devices via the Octopus app.
Octopus said the new channel, operated by HSBC, was launched after it saw “a significant uptick” in electronic payment adoption through its network by both riders and drivers since it began accepting different e-payment options for taxi fares this year. These payment channels included UnionPay, AlipayHK, Alipay and WeChat Pay.
“The number of active taxi drivers accepting electronic payment has increased by 40 per cent, with the average monthly transaction volume rising by nearly 60 per cent since launch,” the company said.
According to the company, seven in 10 taxi drivers in Hong Kong have registered to use the device paired with drivers’ Octopus Business app, while Octopus does not charge any transaction fee.
Hong Kong is home to 18,163 taxis, of which 15,250 are red urban taxis, 2,838 are green New Territories taxis and 75 are blue Lantau taxis. The average daily taxi patronage is near one million.
PayMe currently covers over 100,000 local and online merchants across Hong Kong.
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By Willa Wu
About 27,000 Hong Kong taxi drivers will be able to receive payments through the PayMe service on their mobile devices via the Octopus app.
Octopus said the new channel, operated by HSBC, was launched after it saw “a significant uptick” in electronic payment adoption through its network by both riders and drivers since it began accepting different e-payment options for taxi fares this year. These payment channels included UnionPay, AlipayHK, Alipay and WeChat Pay.
“The number of active taxi drivers accepting electronic payment has increased by 40 per cent, with the average monthly transaction volume rising by nearly 60 per cent since launch,” the company said.
According to the company, seven in 10 taxi drivers in Hong Kong have registered to use the device paired with drivers’ Octopus Business app, while Octopus does not charge any transaction fee.
Hong Kong is home to 18,163 taxis, of which 15,250 are red urban taxis, 2,838 are green New Territories taxis and 75 are blue Lantau taxis. The average daily taxi patronage is near one million.
PayMe currently covers over 100,000 local and online merchants across Hong Kong.
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By Bloomberg
Bitcoin marked its first weekly decline since Donald Trump’s election victory, as the US Federal Reserve’s cautious policy outlook tempered optimism over the president-elect’s embrace of the cryptocurrency sector.
The largest digital asset was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore, the biggest such drop since September.
A wider cryptocurrency market gauge, encompassing smaller tokens such as ether and meme-crowd favourite dogecoin, suffered a sharper decline of about 10 per cent.
The Fed on Wednesday delivered a third straight interest-rate cut, while signalling a slower pace of monetary easing next year to keep inflation in check, sending global stocks into a tailspin.
The hawkish pivot also dampened the speculative spirits unleashed in the cryptocurrency market by Trump’s pledge of friendly regulations and his backing for a national bitcoin stockpile.
A record outflow from US exchange traded funds investing directly in bitcoin last week will weigh on prices in the near term, said Sean McNulty, director of trading at liquidity provider Arbelos Markets.
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Bitcoin marked its first weekly decline since Donald Trump’s election victory, as the US Federal Reserve’s cautious policy outlook tempered optimism over the president-elect’s embrace of the cryptocurrency sector.
The largest digital asset was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore, the biggest such drop since September.
A wider cryptocurrency market gauge, encompassing smaller tokens such as ether and meme-crowd favourite dogecoin, suffered a sharper decline of about 10 per cent.
The Fed on Wednesday delivered a third straight interest-rate cut, while signalling a slower pace of monetary easing next year to keep inflation in check, sending global stocks into a tailspin.
The hawkish pivot also dampened the speculative spirits unleashed in the cryptocurrency market by Trump’s pledge of friendly regulations and his backing for a national bitcoin stockpile.
A record outflow from US exchange traded funds investing directly in bitcoin last week will weigh on prices in the near term, said Sean McNulty, director of trading at liquidity provider Arbelos Markets.
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Hong Kong court jails businessman for 49 months over 2019 Yuen Long MTR riot
By Brian Wong
A Hong Kong businessman has been sentenced to four years and one month in prison for taking part in a riot with a stick-wielding white-clad mob outside a railway station during the 2019 anti-government protests.
West Kowloon Court on Monday jailed Tang Ka-man, 46, for participating in the assault against protesters and commuters during the overnight violence at Yuen Long MTR station between July 21 and 22, 2019.
Tang, a Yuen Long villager who runs a car park business, was earlier found guilty of rioting and conspiracy to wound with intent for brandishing a rattan stick to threaten a group of black-clad protesters gathering outside Ying Lung Wai village in the early hours of July 22.
He also hurled a wooden stick and a lamp he stole from a construction site at the opposition group, but missed his targets.
Deputy district judge Amy Chan Wai-mun sought to draw distinctions between the present case and other violent episodes of the social unrest, saying there was no evidence that anybody was injured during the clashes in Yuen Long, nor was any public facility vandalised.
“So this case was not one which involved the digging of the bricks, the attack of the police, arsons on the shops, on the MTR, the damage on the traffic lights, throwing of the petrol bombs,” she told the court.
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By Brian Wong
A Hong Kong businessman has been sentenced to four years and one month in prison for taking part in a riot with a stick-wielding white-clad mob outside a railway station during the 2019 anti-government protests.
West Kowloon Court on Monday jailed Tang Ka-man, 46, for participating in the assault against protesters and commuters during the overnight violence at Yuen Long MTR station between July 21 and 22, 2019.
Tang, a Yuen Long villager who runs a car park business, was earlier found guilty of rioting and conspiracy to wound with intent for brandishing a rattan stick to threaten a group of black-clad protesters gathering outside Ying Lung Wai village in the early hours of July 22.
He also hurled a wooden stick and a lamp he stole from a construction site at the opposition group, but missed his targets.
Deputy district judge Amy Chan Wai-mun sought to draw distinctions between the present case and other violent episodes of the social unrest, saying there was no evidence that anybody was injured during the clashes in Yuen Long, nor was any public facility vandalised.
“So this case was not one which involved the digging of the bricks, the attack of the police, arsons on the shops, on the MTR, the damage on the traffic lights, throwing of the petrol bombs,” she told the court.
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‘Erasing history’?: Philippines’ new banknotes do not feature the Aquinos, sparking anger
By Jeoffrey Maitem
The Philippines has released a new series of polymer banknotes that no longer feature portraits of its political heroes, including the late opposition leader Benigno Aquino Jnr and his wife, former president Corazon Aquino, both icons in the fight against the dictatorship of the father of current leader Ferdinand Marcos Jnr.
On Thursday, the Bangko Sentral ng Pilipinas (BSP) presented the first polymer banknote series, which highlights the country’s rich biodiversity and cultural heritage. The series includes the 1,000-peso polymer introduced in April 2022 and new polymer denominations of 500 pesos, 100 pesos, and 50 pesos, and will be available in time for Christmas and circulated nationwide in January next year.
Critics, however, warn the decision to remove heroes and former presidents from the banknotes reflects a disregard for the causes they fought for.
In a statement, the BSP explained it followed a cyclical pattern in selecting currency design themes and showcased symbols of national pride across various denominations over the decades.
The new series will display images of the country’s native and protected species and traditional weave designs. For instance, the new 500-peso banknotes feature the Visayan spotted deer on the front and the Acanthephippium mantinianum plant on the reverse side.
BSP Governor Remolona said: “The polymer series raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride.”
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By Jeoffrey Maitem
The Philippines has released a new series of polymer banknotes that no longer feature portraits of its political heroes, including the late opposition leader Benigno Aquino Jnr and his wife, former president Corazon Aquino, both icons in the fight against the dictatorship of the father of current leader Ferdinand Marcos Jnr.
On Thursday, the Bangko Sentral ng Pilipinas (BSP) presented the first polymer banknote series, which highlights the country’s rich biodiversity and cultural heritage. The series includes the 1,000-peso polymer introduced in April 2022 and new polymer denominations of 500 pesos, 100 pesos, and 50 pesos, and will be available in time for Christmas and circulated nationwide in January next year.
Critics, however, warn the decision to remove heroes and former presidents from the banknotes reflects a disregard for the causes they fought for.
In a statement, the BSP explained it followed a cyclical pattern in selecting currency design themes and showcased symbols of national pride across various denominations over the decades.
The new series will display images of the country’s native and protected species and traditional weave designs. For instance, the new 500-peso banknotes feature the Visayan spotted deer on the front and the Acanthephippium mantinianum plant on the reverse side.
BSP Governor Remolona said: “The polymer series raises awareness of the country’s threatened species, serves as a symbol of Filipino identity, and fosters national pride.”
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By Jiang Chuqin
A Hong Kong plumber has died while working on a repair project contracted by the Drainage Services Department, after he was reportedly struck by a large water pipe.
Police have classified the case as an industrial accident.
The incident happened on Monday morning while the man was offloading water pipes from a crane truck at a construction site near Man Kok Village in Sheung Shui, the northern part of the New Territories, according to initial investigations.
The project, contracted by the Drainage Services Department, involved repairing an underground stormwater drain, according to local media.
Wooden supports used to stabilise the pipes became loose, causing the pipes to roll down and hit the victim on the head.Emergency personnel were alerted around 9.52am on Monday and rushed the victim to North District Hospital. Photo: Handout
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By SCMP
Catch up on some 2024 entries in Open Questions, SCMP’s series of in-depth interviews with global opinion leaders. If you would like to see more of our reporting, please consider subscribing.
Amid numerous risk factors, China’s ascension and America’s predominance appear destined for conflict. But Graham Allison says recent “trend lines” could change trajectories towards a more “constructive relationship”.
An expert on the contested waterway, Wu Shicun calls for rival claimants to work together to demilitarise – and says Beijing should take the lead.
Shen Zhihua warns about the economic decoupling that sent US-Soviet relations spiralling into confrontation. China should make its diplomatic position clear as the countries realign over ideology, the head of a Cold War history research centre says.Illustration: Victor Sanjinez
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China’s diplomatic clout in Mideast at risk as threats build around ally Iran
By Zhao Ziwen
When Beijing brokered a historic peace deal between Iran and Saudi Arabia last year, it was seen as a milestone for China’s proactive engagement with the Middle East.
For Tehran, which has been under economic and geopolitical pressure from US President Joe Biden’s administration, the deal marked a diplomatic breakthrough and a potential opportunity to end isolation, with Beijing’s help.
However, with the downfall of Syria’s Bashar al-Assad, and the catastrophic loss of Hamas and Hezbollah during its war against Israel, Tehran faces mounting geopolitical threats with splintered regional proxies.
Experts said that with Donald Trump’s hawkish Middle East policy cabinet, China-Iran relations were likely to strengthen under the common pressure.
But China’s ability to remain a mediator could be at risk amid the growing risk of confrontation between Tehran and regional powers, which could complicate China’s diplomatic legacy in the region.
“It is almost certain that Trump’s second term will continue to exert strong pressure on Iran, which, coupled with Israel’s pounding and destruction of Iranian-backed forces such as Hamas and Hezbollah over the past year …[It] will force Iran to opt for closer cooperation with other powers, including China and Russia,” said Fan Hongda, a professor at the Middle East Studies Institute, Shanghai International Studies University.
Iran has experienced economic hardship since Trump’s first presidency. After withdrawing from the Iran nuclear deal – a multipolar framework to negotiate Iran’s nuclear issue – Trump imposed harsher economic sanctions on the Islamic Republic, a campaign Washington called “maximum pressure” and whose impact has lasted until today.
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By Zhao Ziwen
When Beijing brokered a historic peace deal between Iran and Saudi Arabia last year, it was seen as a milestone for China’s proactive engagement with the Middle East.
For Tehran, which has been under economic and geopolitical pressure from US President Joe Biden’s administration, the deal marked a diplomatic breakthrough and a potential opportunity to end isolation, with Beijing’s help.
However, with the downfall of Syria’s Bashar al-Assad, and the catastrophic loss of Hamas and Hezbollah during its war against Israel, Tehran faces mounting geopolitical threats with splintered regional proxies.
Experts said that with Donald Trump’s hawkish Middle East policy cabinet, China-Iran relations were likely to strengthen under the common pressure.
But China’s ability to remain a mediator could be at risk amid the growing risk of confrontation between Tehran and regional powers, which could complicate China’s diplomatic legacy in the region.
“It is almost certain that Trump’s second term will continue to exert strong pressure on Iran, which, coupled with Israel’s pounding and destruction of Iranian-backed forces such as Hamas and Hezbollah over the past year …[It] will force Iran to opt for closer cooperation with other powers, including China and Russia,” said Fan Hongda, a professor at the Middle East Studies Institute, Shanghai International Studies University.
Iran has experienced economic hardship since Trump’s first presidency. After withdrawing from the Iran nuclear deal – a multipolar framework to negotiate Iran’s nuclear issue – Trump imposed harsher economic sanctions on the Islamic Republic, a campaign Washington called “maximum pressure” and whose impact has lasted until today.
via SCMP Full Text Feed
Australia approves extradition of ex-US Marine accused of training Chinese military pilots
By Associated Press
Former US Marine Corps pilot Daniel Duggan will be extradited from Australia to the United States over allegations that he illegally trained Chinese aviators.
Australia’s Attorney General Mark Dreyfus approved the extradition on Monday, ending the Boston-born 55-year-old’s nearly two-year attempt to avoid being returned to the US.
Duggan, who served in the Marines for 12 years before immigrating to Australia and giving up his US citizenship, has been in a maximum-security prison since he was arrested in 2022 at his family home in the state of New South Wales. He is the father of six children.
Dreyfus confirmed in a statement on Monday he had approved the extradition but did not say when Duggan would be transferred to the US.
“Duggan was given the opportunity to provide representations as to why he should not be surrendered to the United States. In arriving at my decision, I took into consideration all material in front of me,” Dreyfus said in the statement.
In May, a Sydney judge ruled Duggan could be extradited to the US, leaving an appeal to the attorney general as Duggan’s last hope of remaining in Australia.
via SCMP Full Text Feed
By Associated Press
Former US Marine Corps pilot Daniel Duggan will be extradited from Australia to the United States over allegations that he illegally trained Chinese aviators.
Australia’s Attorney General Mark Dreyfus approved the extradition on Monday, ending the Boston-born 55-year-old’s nearly two-year attempt to avoid being returned to the US.
Duggan, who served in the Marines for 12 years before immigrating to Australia and giving up his US citizenship, has been in a maximum-security prison since he was arrested in 2022 at his family home in the state of New South Wales. He is the father of six children.
Dreyfus confirmed in a statement on Monday he had approved the extradition but did not say when Duggan would be transferred to the US.
“Duggan was given the opportunity to provide representations as to why he should not be surrendered to the United States. In arriving at my decision, I took into consideration all material in front of me,” Dreyfus said in the statement.
In May, a Sydney judge ruled Duggan could be extradited to the US, leaving an appeal to the attorney general as Duggan’s last hope of remaining in Australia.
via SCMP Full Text Feed
