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January
Japan finmin cautions against changes to debt redemption rule
Written by Nur Yasmin
Japanese Finance Minister Shunichi Suzuki cautioned against making any change to the government's debt redemption rule as it helps the government maintain fiscal discipline.
Suzuki made the comments after a cabinet meeting on Friday, as some ruling Liberal Democratic Party (LDP) lawmakers are calling for extending a 60-year redemption period to allow more debt issuance and bigger spending.
Whether to review the rule is being debated by an LDP panel led by the party policy research chief Koichi Hagiuda, tasked with seeking sources of funding for a controversial plan to boost defence spending.
The 60-year redemption rule is applicable to redeeming construction bonds and deficit-covering bonds so that these bonds, including refunding bonds, will be entirely redeemed in a 60-year period.
"This 60-year redemption rule is set from the standpoint of securing sources of funding for redemption of JGBs and levelling fiscal burdens of redemption. In a sense, discipline is being kept with this rule."
"In Japan, the 60-year redemption rule is one way to secure fiscal discipline. We must think thoroughly about how the loss of this rule would be perceived," he said, referring to rules adopted by other countries.
The amount of overall government bond issuance would not change even if the 60-year debt redemption rule is reviewed, Suzuki told reporters. (reuters)
January
South Korea to lift indoor mask mandate this month
Written by Nur Yasmin
South Korea will drop a face mask mandate for most indoor public places later this month, Prime Minister Han Duck-soo said on Friday, though coverings will still be required on transport and in medical facilities.
The lifting of the face-covering rules will take effect on Jan. 30, Han said, in the country's latest step to ease COVID-19 rules as new cases show signs of a slowdown.
"The daily number of new infections is continuing to decline and despite concerns over a spike in cases in China, the situation here is under control without major troubles," the prime minister said during a COVID response meeting.
South Korea has ordered COVID tests for travellers arriving from China after Beijing abandoned a strict anti-virus regime of mass lockdowns in an abrupt policy U-turn.
Friday's announcement comes exactly three years after South Korea reported its first outbreak of COVID infection on Jan. 20, 2020 and as it is set to mark the Lunar New Year holidays during which many South Koreans return to their home towns.
The easing of mask rules coupled with the upcoming holidays could result in a temporary surge in new cases, Han warned, urging health authorities to stay vigilant especially for those more vulnerable to infection.
South Korea has scrapped most of its pandemic-related precautions, but it maintains a seven-day isolation rule for those testing positive for COVID. (Reuters)
January
Kazakh ex-leader Nazarbayev undergoes successful heart surgery - spokesman
Written by Nur Yasmin
Former Kazakh President Nursultan Nazarbayev has undergone a successful heart surgery and his life is not in danger, his spokesman Aidos Ukibay said on Friday.
Ukibay's tweet followed reports by Kazakh media that Nazarbayev, 82, who ran the oil-rich country for three decades, was hospitalised.
Nazarbayev resigned as president in 2019 and lost his remaining positions of power last year after falling out with his successor Kassym-Jomart Tokayev amid violent unrest.
This month, the Kazakh parliament repealed a law that had given Nazarbayev the title of Yelbasy, or the leader of the nation, and granted legal immunity to his immediate family members.
Nazarbayev himself still enjoys immunity from prosecution given to him by the constitution. (Reuters)
January
Candidates to replace Jacinda Ardern to start making their bids
Written by Nur Yasmin
Nominations for candidates to replace Jacinda Ardern as New Zealand's prime minister must be submitted by 9am Saturday (2200GMT) ahead of a leadership vote on Sunday, the Labour Party's chief whip said in an emailed statement on Friday.
Ardern, 42, said Thursday she had "no more in the tank" to continue leading the country, and would step down no later than early February and not seek re-election.
Her party, Labour, has been struggling in the polls, with a Taxpayers' Union-Curia poll released Friday using research from before Ardern announcement saw Labour’s popularity fall to 31.7%, while the opposition New Zealand National Party saw support from 37.2% of respondents.
There is no clear successor to Ardern and commentators point to several ministers as possible candidates for the role, including Chris Hipkins, the former COVID minister and current Minister of Education and Police, and current Minister of Justice Kiri Allen and Minister of Transport Michael Wood.
Hipkins told news organisation Newshub on Friday that he expected Labour lawmakers to reach consensus on a new candidate, but declined to say whether he planned to run.
"We do have a responsibility to make sure that we're making these decisions in the best interests of New Zealanders," he said.
Ardern told media at Napier Airport on Friday that she intended to remain neutral during the election.
"I think the most important thing is that we focus on the process," she said.
Local media have reported that Megan Woods, minister of housing, ruled herself out of contention.
If a candidate is unable to secure two-thirds of the available votes on Sunday, the leadership contest will go to the wider membership.
Labour's chief whip, Duncan Webb, said in a statement that to be nominated a candidate must have the support of at least seven lawmakers, and that their nomination must be received before the deadline.
"Caucus (the 64 Labour lawmakers in parliament) had seven days from the date of resignation to reach a decision. Accordingly Caucus can continue to meet to seek to obtain 66% support for a leader up until that time," Webb said.
The winner will become prime minister until the next general election. Ardern's term as leader will conclude no later than Feb. 7 and a general election will be held on Oct. 14. (Reuters)
January
Ukraine expects decisions on tanks at Western defence leaders' meeting
Written by Nur Yasmin
Ukrainian President Volodomyr Zelenskiy said his government was expecting "strong decisions" from defence leaders of NATO and other countries meeting on Friday to discuss boosting Ukraine's ability to confront Russian forces with modern battle tanks.
The meeting at Ramstein Air Base in Germany is the latest in a series since Russia invaded Ukraine nearly 11 months ago, and where future weapons supplies will be discussed, particularly of Germany's Leopard 2 tanks used by armies across Europe.
Berlin has veto power over any decision to export the tanks and Chancellor Olaf Scholz's government has appeared reluctant to authorise that for fear of provoking Russia.
Some allies say Germany's concern is misplaced with Russia already fully committed to war and its repeated assertions that Western weapons transfers would prolong the conflict and increase suffering in Ukraine.
Ukraine and Russia have both relied primarily on Soviet-era T-72 tanks, which have been destroyed in their hundreds during the war that Russian President Vladimir Putin started on Feb. 24, calling it a "special military operation" to protect Russia and Russian speakers.
Ukraine and its allies accuse Russia of an unprovoked war to grab territory and to erase the independence of a ex-Soviet republic and neighbour. Western countries have provided a steady supply of weapons to Ukraine.
"We are, in fact, now waiting for a decision from one European capital, which will activate the prepared chains of cooperation regarding tanks," Zelenskiy said in a video address on Thursday night.
The Lithuanian defence minister said earlier that several countries would announce sending Leopard 2 tanks to Ukraine at Friday's meeting.
"Some of the countries will definitely send Leopard tanks to Ukraine, that is for sure", Arvydas Anusauskas told Reuters, about the Ramstein pledges, speaking after a preparatory meeting of 11 nations in Estonia.
Zelenskiy is due to address the gathering: "We are expecting strong decisions," he said.
U.S. MILITARY ASSISTANCE
The United States on Thursday announced new military assistance for Ukraine valued at up to $2.5 billion, including hundreds of armoured vehicles and support for Ukraine's air defence.
The aid includes 59 Bradley Fighting Vehicles and 90 Stryker Armored Personnel Carriers, the U.S. Defense Department said. In total, the United States has committed more than $27.4 billion in security aid to Ukraine since the invasion began.
Government sources in Germany have said it would move on the Leopard tanks issue if the United States agreed to send Abrams tanks to Ukraine. Abrams tanks were not included in Thursday's U.S. announcement.
Germany's new defence minister, Boris Pistorius, said earlier, however, that he did not know of any requirement that Ukraine receive U.S. and German tanks simultaneously.
"I'm not aware of any such stipulation," Pistorius told German ARD television when asked if that meant Abrams and Leopards had to be delivered at the same time, a position that leaves open the possibility of an agreement on Friday.
CIA DIRECTOR VISIT
Ukraine's allies in the West have wanted to avoid NATO appearing to confront Russia directly and demurred on sending the Kyiv government their most potent weaponry.
Ukraine needed the tanks to defend itself, recapture occupied land, and did not plan to attack Russia, Zelenskiy told ARD television on Thursday.
"From Washington to London, from Paris to Warsaw, you hear one thing: Ukraine needs tanks. Tanks are the key to ending the war properly. It is time to stop trembling before Putin and take the final step," Zelenskiy adviser Mykhailo Podolyak said on Twitter.
Poland and Finland have already said they would send Leopard tanks to Ukraine if Germany gives approval for export. On Friday morning, Poland indicated that it might send the tanks even if Germany opposes.
"If there is strong resistance, we will be ready to take even such non-standard action," Deputy Foreign Minister Pawel Jablonski told private radio RMF FM.
Meanwhile, CIA Director William Burns travelled in secret to Ukraine's capital Kyiv to meet Zelenskiy, a U.S. official told Reuters on Thursday.
The official declined to say when the visit took place. The Washington Post, which first reported the visit, said it was at the end of last week. The Post said Burns briefed Zelenskiy on his expectations on Russia's military plans.
Fighting has been most intense in the industrial region known as the Donbas on Ukraine's eastern border with Russia, Ukrainian military officials said on Thursday night.
The Ukrainian military said Russian forces shelled the town of Bakhmut, Russia's main target in Donetsk province, which combined with Luhansk province forms the Donbas. Soledar, about 20 km (12 miles) from Bakhmut, also came under fire - Russian forces say they control Soledar, while Ukrainian sources say their military is still fighting there.
"Ukrainian forces have practically stabilised the front around Bakhmut," Ukrainian military analyst Oleh Zhdanov said on YouTube.
"As of today, Russia is turning Soledar into a military hub. And they are trying to redirect troops towards the towns of Spirne and Bilohorivka - just inside the Luhansk region."
Reuters was not able to verify battlefield reports. (Reuters)
January
Malaysia surprises by holding rates as economic risks loom
Written by Nur Yasmin
Malaysia's central bank on Thursday unexpectedly kept its benchmark interest rate (MYINTR=ECI) unchanged, signalling worries about economic growth after four consecutive rate hikes last year.
Bank Negara Malaysia held the overnight policy rate at 2.75%. All but one of 27 economists polled by Reuters had expected the bank to raise the rate to 3%.
"Today's decision allows the monetary policy committee to assess the impact of the cumulative past overnight policy rate (OPR) adjustments, given the lag effects of monetary policy on the economy," Bank Negara Malaysia said in a statement.
Future monetary policy moves would depend on both domestic inflation and the growth outlook, it said.
The central bank flagged downside risks to the economy, including geopolitical tensions, weaker growth in advanced economies and a sharp tightening in financial market conditions. Headline inflation has peaked, it said.
The central bank has increased interest rates by a total of 100 basis points since last May from a historic low of 1.75%, as it looked to rein in inflation.
"BNM's move suggests that they are getting increasingly worried about the near-term downside risks to growth stemming from the slowdown in the advanced economies," said Khoon Goh, head of Asia research at ANZ.
Malaysia's economy has recovered strongly from a pandemic-induced slump but is expected to moderate this year amid a global slowdown.
The central bank has said growth in 2022 likely surpassed the government's 6.5%-7% forecast, but would drop to 4%-5% this year.
Capital Economics said it now expects the Malaysian central bank to hold interest rates unchanged for the rest of the year, and begin cutting in 2024.
"With growth set to slow and inflationary pressures easing, we think today's hold represents an end, rather than just a pause, to the tightening cycle," said Shivaan Tandon, emerging Asia economist at Capital Economics. (Reuters)
January
Indian judges concerned as government seeks bigger role in judicial appointments
Written by Nur Yasmin
Senior officials in India's government have said they want to have a bigger role in choosing judges, a demand several lawyers and judges say threatens the independence of the judiciary.
Judges for the Supreme Court and the 25 high courts across India are appointed through a quarter-century-old mechanism that involves both sitting judges and government officials. A group of senior judges, known as the collegium, puts up candidates' names to the law ministry, and these names are approved if they clear security checks.
A senior law ministry official said the government is seeking a role in selecting the candidates and was not satisfied with only being involved at the concluding stage. The official declined to be named because he was not authorised to speak to the media.
The government has recently held back on approving several candidates, without giving a reason.
The law minister said in the upper house of the parliament in December that 165 high court judges were appointed last year against 331 vacancies.
Recently, the government told the Supreme Court that 44 more judges were likely to be appointed this month.
Law Minister Kiren Rijiju has said the current system of appointing judges was opaque. "I am not critical about the judiciary or the judges, but I state a fact which is the reflection of the thinking of the common people of India," he told a news channel.
This week Rijiju's office said the minister was waiting for a response from the chief justice, the country's highest judge, to the government demand to review the structure of the collegium. A bill passed by parliament to change the process was rejected by the Supreme Court in 2015.
The dispute has exacerbated a shortage of high court judges and a backlog of cases. Official data shows 4 out of every 10 judicial seats are currently empty, and there are over 70,000 cases pending before the Supreme Court and over 5.9 million cases before the high courts.
Several lawyers and retired judges told Reuters they believed the government was seeking to influence the judiciary, which would be unconstitutional.
"We are seeing the legislative authority trying to become the supreme power," said N.Santosh Hegde, a former Supreme Court judge and a former Solicitor General. "The collegium system may not be completely perfect but it is not unfair."
Two lawyers affiliated with Prime Minister Narendra Modi's ruling party said the government was trying to end favouritism. The lawyers declined to be named because they were not authorised to speak to the media since the law minister, a member of the ruling party, was already addressing the issue.
One of the candidates who was not approved, lawyer Nagendra Ramachandra Naik, told Reuters he was rejected 4 times for a seat on Karnataka's High Court.
"I don't have a criminal record and my 30 years of work as a lawyer qualifies me for the position of a judge," he said. When asked about Naik's case, a senior law ministry official said the government's decisions about appointments are confidential. (Reuters)
January
Australia 'deeply troubled' by delays in writer's espionage trial verdict in China
Written by Nur Yasmin
A verdict in the espionage trial of Australian writer Yang Hengjun, detained by China since his arrest there four years ago, has been delayed until April, the seventh such delay, his supporters said on Thursday.
Pro-democracy blogger Yang is an Australian citizen born in China who was working in New York before his arrest at Guangzhou airport in 2019, coinciding with deteriorating relations between Australia and China.
A Beijing court heard Yang's trial in secret in May 2021 and the case against him has never been publicly disclosed. Yang has denied working as a spy for Australia or the United States.
"The Australian government is deeply troubled by the ongoing delays in his case. Since Dr Yang was detained, the Australian government has called for basic standards of justice, procedural fairness and humane treatment to be afforded to Dr Yang," Foreign Minister Penny Wong said in a statement marking the fourth anniversary of his detention.
Yang's case, and that of detained Australian journalist Cheng Lei, tried in secret on national security charges in March 2022, are being closely watched in Australia as the two nations seek to improve diplomatic ties after a leaders' meeting. read more
The first consular visit since October to the two journalists detained in Beijing took place on Jan. 13, after the Australian government called for consular access to be restored. Chinese authorities had previously suspended visits citing COVID-19 restrictions.
Asked about the delay in the verdict in Yang's case, Chinese foreign ministry spokesperson Wang Wenbin said Australia should not interfere.
"The Chinese side urges the Australian side to earnestly respect China's judicial sovereignty, refrain from interfering in any form in the handling of cases by Chinese judiciary according to law, and take concrete actions to create conditions and atmosphere for the improvement of bilateral relations," Wang said during a regular media briefing.
A verdict in Yang's trial has been delayed by the court seven times, and his lawyer was told the deadline had been extended a further three months to April, his supporters told Reuters.
"Yang's arbitrary detention in China is an outrageous political persecution due to his advocacy for universal values such as human rights, democracy and the rule of law," said his former PhD supervisor at the University of Technology in Sydney, Feng Chongyi.
He urged the Australian government to secure Yang's release before any resumption of normal trade with China, adding there were concerns over his health, including malnutrition, after four years of imprisonment.
In a message viewed by Reuters that Yang sent to his friends from prison this month, he maintained his innocence.
"Four years is a long time. I came, I suffered, I thought. But I have not been conquered," Yang wrote in the message. (Reuters)
January
Taiwan premier, cabinet submit resignations ahead of reshuffle
Written by Nur Yasmin
Taiwan Premier Su Tseng-chang submitted his resignation along with that of his cabinet to President Tsai Ing-wen on Thursday, ahead a widely expected government reshuffle but there was no immediate word of his successor.
Su stepping down follows the ruling Democratic Progress Party's (DPP) trouncing at local polls in November, and comes as Taiwan gears up for presidential and parliamentary elections in early 2024.
The new Cabinet will only serve until the next administration takes over next year.
In a post on his Facebook page, Su said he had asked Tsai to appoint a new Cabinet so she could bring in new people.
Cabinet spokesman Lo Ping-cheng said in a separate statement said that Su and his Cabinet will formally step down once Tsai has confirmed their replacements.
Su, 75, had originally submitted his resignation after the November poll losses, but Tsai asked him to stay on. (Reuters)
January
South Korea, Iran summon each other's envoys as spat over Yoon remarks deepens
Written by Nur Yasmin
Iran and South Korea summoned each other's envoys in a deepening spat over comments by South Korean President Yoon Suk-yeol that described the Islamic republic as the enemy of the United Arab Emirates.
Yoon, speaking to South Korean troops stationed in Abu Dhabi earlier this week, said South Korea and the UAE are under "very similar" circumstances, each facing North Korea and Iran as "the enemy, biggest threat."
Relations between Seoul and Tehran had already been testy over frozen Iranian funds in South Korea and suspected arms dealings between Iran and North Korea.
Yoon's office has said his comment was intended as words of encouragement for South Korean soldiers while the foreign ministry said on Thursday it had repeatedly offered explanations to Tehran.
Unappeased, Tehran summoned South Korean ambassador Yun Kang-hyeon on Wednesday, warning that bilateral ties could be reviewed if the issue was not resolved, according to a report from Iran's official IRNA news agency.
Iran's deputy foreign minister for legal affairs, Reza Najafi, told Yun that Iran has "deep-rooted and friendly relations" with most neighbours. He described Yoon's comment as "interfering", adding that Yoon was "undermining peace and stability in the region," the report said.
It added that Najafi also accused Seoul of pursuing an "unfriendly approach" toward Iran, and mentioned the issue of frozen funds. Iran has repeatedly demanded the release of some $7 billion of its funds frozen in South Korean banks under U.S. sanctions.
Hours later on Thursday, South Korea's foreign ministry said its vice minister Cho Hyun-dong had called in Iran's ambassador in Seoul, Saeed Badamchi Shabestari, to complain about Najafi's remarks.
The ministry said Najafi had made a "completely groundless" claim that Yoon had hinted at developing a nuclear weapon.
Yoon said last week that Seoul might have to push to redeploy U.S. tactical nuclear weapons or build its own bombs to deter North Korea, but is working instead to improve joint planning and execution of so-called U.S. extended deterrence or military capability including nuclear forces as a "realistic, achievable" means.
"Our president's remarks were intended to strengthen the effectiveness of the extended deterrence to counter North Korea's escalating nuclear and missile threats," ministry spokesperson Lim Soo-suk told a briefing.
Yoon's remarks could also spell headaches for him domestically. Opposition lawmakers have accused him of causing a "diplomatic disaster," while some members of Yoon's own party have also said he should have been more careful.
Seoul and Tehran have been in talks over ways to unfreeze the funds and about the resumption of Iranian oil imports. South Korea was once one of Iran's biggest crude buyers in Asia, but ceased imports after Washington imposed sanctions on Tehran in 2018. (Reuters)