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January
Rights group says several Chinese 'white paper' protestors still in detention
Written by Nur Yasmin
Several demonstrators who were apprehended for publicly protesting China's then-ongoing zero-COVID policy remain in detention, face charges or have not been heard from, Human Rights Watch said in a report on Thursday.
In late November, protests broke out in numerous cities across China calling for an end to the country's nearly three years of strict enforcement of the zero-COVID policy. Many demonstrators held up blank sheets of white paper, which became a symbol of their discontent.
Some protestors also shouted slogans calling for the ouster of President Xi Jinping or the ruling Communist Party.
The protests, unprecedented in Xi's decade in power, which has seen an increasingly heavy crackdown on dissent, petered out within days amid a heavy police presence. Numerous individuals were apprehended and subsequently released, protesters, lawyers and academics told Reuters at the time, adding that they were concerned that some could face consequences later.
Human Rights Watch researchers cited four protestors in Beijing - editor Cao Zhixin, accountant Li Yuanjing, teacher Zhai Dengrui, and journalist Li Siqi - as having been formally arrested for "picking quarrels and provoking trouble", which can carry a sentence of up to five years.
In Shanghai, the whereabouts of two protestors who demonstrated on Wulumuqi Road, Li Yi and Chen Jialin, are unknown, Human Rights Watch said.
The group called on authorities to release all of the individuals immediately.
Reuters could not independently verify the status of the individuals named in the report.
Calls by Reuters to China's Ministry of Public Security for a comment were not answered.
Human Rights Watch said "a few" protestors were released on bail.
"More protestors are believed to have been detained or forcibly disappeared, though their cases are not publicly known, given the Chinese authorities' practice of threatening detainees' families to keep silent," it said.
In early December, soon after the protests, China abruptly dropped most of its zero-COVID curbs, and the coronavirus has spread rapidly across the country. (Reuters)
January
More than 160 Afghans die in bitterly cold weather
Written by Nur Yasmin
More than 160 people have died from the cold in Afghanistan this month in the worst winter in more than a decade, authorities said on Thursday, as residents described being unable to afford fuel to heat homes in temperatures well below freezing.
"162 people have died due to cold weather since January 10 until now," said Shafiullah Rahimi, a spokesperson for the Minister of Disaster Management. About 84 of the deaths had taken place in the last week.
The coldest winter in 15 years, which has seen temperatures dip as low as -34 degrees Celsius (-29.2 degrees Fahrenheit), has hit Afghanistan in the middle of a severe economic crisis.
Many aid groups have partially suspended operations in recent weeks due to a Taliban administration ruling that most female NGO workers could not work, leaving agencies unable to operate many programmes in the conservative country.
In a snowy field in the west of the Afghan capital, children rummaged through rubbish looking for plastic to burn to help their families, unable to afford wood or coal.
Nearby, 30-year-old shopkeeper Ashour Ali lives with his family in a concrete basement, where his five children shiver from cold.
"This year, the weather is extremely cold and we couldn't buy coal for ourselves," he said, adding the small amount he makes from his shop was no longer enough for fuel.
"The children wake up from the cold and cry at night until the morning. They are all sick. So far, we have not received any help and we do not have enough bread to eat most of the time."
During a visit to Kabul this week, U.N. aid chief Martin Griffiths said the world body was seeking exemptions to the ban on most female aid workers that was coming at one of the most vulnerable times for many Afghans.
"The Afghan winter … as everybody in Afghanistan knows is the big messenger of doom for so many families in Afghanistan as we go through these many years of humanitarian need … we see some of the consequences in loss of life," Griffiths told Reuters. (Reuters)
January
China's open borders and push to stoke economy may revive dealmaking, advisers say
Written by Nur Yasmin
China's reopened borders and renewed focus on boosting the sagging economy have brightened the deals outlook, with bankers starting to field interest for mergers, acquisitions and fundraising involving the world's second-largest economy.
The prospect of a revival in deals comes as Chinese policymakers try to restore private-sector confidence and growth, which has been ravaged by the COVID-19 pandemic and a sweeping regulatory crackdown.
Although consumer, retail and travel-related firms are expected to bounce back after an almost three-year lockdown, advisers say sectors linked to strengthening China's economic prospects will be at the centre of dealmaking this year.
"We see strategic sectors, hardcore industrial technology, automation, semiconductor-related to be a focus for outbound activity," said Mark Webster, partner and head of Singapore at BDA Partners, an Asia-focused investment banking adviser.
"Healthcare opportunities are proving of interest, both domestically and outbound, including in Southeast Asia," he added. "Geographically, Indonesia in particular is attracting a lot of attention."
Australia has also already emerged on China's radar amid hopes of a diplomatic thaw between the two countries. In one such deal, Tianqi Lithium (002466.SZ) and IGO's (IGO.AX) joint venture are bidding for lithium miner Essential Metals.
Outbound M&A involving companies in China halved last year to the lowest point since 2006, Refinitiv data showed, which pulled total Chinese company-led dealmaking to its lowest point in nine years.
Chinese companies' capital markets deals slipped 44% in the same period, according to Refinitiv data. That slump crimped the fees earned by Wall Street banks and forced some of them to cut jobs, mainly those linked to Chinese deals, in the past few months.
"We have had a lot more requests for proposals from companies in the past two to three weeks," said Li He, a capital markets partner at law firm Davis Polk who travelled to Beijing to meet clients the day after China's border reopened on Jan. 8.
"That is not just because of travel but people think that a reopening is good for the economy, good for capital markets and good for deal execution," He said.
The reopening coincided with a thaw in regulatory scrutiny that had seen overseas Chinese IPOs grind to a halt in the past 18 months amid proposed rule changes, and the tech sector struggle with a range of new regulations.
Until the border reopened, travel from Hong Kong into mainland China had been tightly restricted for about three years - a sharp change for advisers for whom weekly trips to China had been common.
Opened borders could lead to a pick up in deals involving private equity funds later in 2023 as firms head to China to find buyers for their assets, according to Bagrin Angelov, head of China cross-border M&A at Chinese investment bank CICC.
Chinese private equity activity was worth $24.1 billion in 2022, down from $57.8 billion a year before, Pitchbook data showed.
"Six months or one year before the deal, private equity firms would already start meeting potential buyers to try to warm up the interest and try to understand who could be interested," Beijing-based Angelov said.
"For them certainty is very important, and they really need to meet buyers very early on," he continued. "Because of opening up, we expect an uptick in overseas disposal of private equity to Chinese buyers." (Reuters)
January
Japan's top FX diplomat warns sharp currency moves won't be tolerated
Written by Nur Yasmin
Sharp one-sided currency moves cannot be tolerated, Japan's top finance diplomat Masato Kanda told Reuters, reaffirming Tokyo's determination to intervene in the foreign exchange market to curb any speculative or significant yen moves.
"Sharp, one-sided moves as seen last year are not desirable or cannot be tolerated from the viewpoints of the people's livelihood and corporate activity," Kanda said on Wednesday, referring to Japan's first yen-buying intervention in 24 years last year.
Kanda oversaw Japan's currency intervention conducted last year to prop up the yen after it fell around 30% to 32-year lows near 152 to the dollar. The yen has rebounded since then and it is now trading around 130 to the dollar.
"There's no change to this thinking from now on as well," Kanda, who is vice finance minister for international affairs, said in an interview, when asked whether sharp yen rises warrant action.
Kanda emphasised that the government aims to keep currency moves stable, while the Bank of Japan (BOJ) has independence in guiding monetary policy and focuses on achieving price stability.
"Generally speaking, the BOJ targets price stability, while we aim for currency stability," he said.
"We are communicating firmly with the BOJ as well as other central banks. But policy itself is independent," Kanda said of the central bank's monetary policy.
The BOJ's ultra-loose monetary policy has drawn criticism from some analysts as having triggered an unwelcome yen plunge last year that inflated the cost of raw material imports.
Separately, Tokyo plans to spearhead discussions on ramping up a regional multilateral currency swaps arrangement called Chiang-Mai Initiative Multilateralisation (CMIM), to prepare against future financial crises and natural disasters, Kanda said. (Reuters)
January
Pakistan seeks U.S. help in unlocking $1.1 bln IMF loan - Dawn
Written by Nur Yasmin
Pakistan has sought support from Washington to unlock a stalled International Monetary Fund programme that would release $1.1 billion to its strained economy as the country rebuilds after last year's devastating floods, Dawn newspaper said on Thursday.
The IMF and Pakistan signed a $6 billion bailout in 2019, that was topped up with another $1.1 billion last year, but that came with conditions attached, aimed at reducing the budget deficit before the loan is released.
With interest rates already at 17%, inflation hitting 24.5% in December, and foreign reserves barely sufficient to cover three weeks of imports, the South Asian nation is in dire need of external financing.
Finance Minister Ishaq Dar met a visiting U.S. Treasury delegation on Wednesday. He told them that Pakistan would honour its international commitments and was in the process of taking "very tough decisions" such as increasing natural gas and electricity prices, Dawn reported, citing sources.
"However, he pointed out, Pakistan required breathing space as the industry and agriculture had passed through most challenging times after the devastating floods," the report in the Pakistani English-language newspaper said.
The finance ministry did not immediately respond to a request for comment.
Last year's severe floods submerged swathes of the country, killed at least 1,700 people, and battered its already strained economy.
Rebuilding costs were estimated at $16.3 billion and international donors this month pledged to finance more than half of that. (Reuters)
January
North Korea locks down capital city over 'respiratory illness'
Written by Nur Yasmin
Authorities in the North Korean capital Pyongyang have ordered a five-day lockdown due to rising cases of an unspecified respiratory illness, the Russian embassy and Seoul-based NK News reported on Wednesday, citing a government notice.
The notice, shared by the embassy on its Facebook page, said that a "a special anti-epidemic period has been established" and it called on foreign delegations to keep employees inside. The order also called for individuals to measure their temperatures four times a day and report the results to a hospital by phone.
The notice made no mention of COVID-19 though cited an "increase in winter cases of recurrent flu and other respiratory diseases".
The lockdowns were first reported by South Korea's NK News, which monitors secretive North Korea.
On Tuesday, the website reported that Pyongyang residents appeared to be stocking up on goods in anticipation of stricter measures. It was unclear if other areas of the country had imposed new lockdowns.
North Korea acknowledged its first COVID-19 outbreak last year, but by August had declared victory over the virus.
It never confirmed how many people caught COVID, apparently because it lacks the means to conduct widespread testing.
Instead, Pyongyang reported daily numbers of patients with fever, a tally that rose to some 4.77 million, out of a population of about 25 million. But it has not reported such cases since July 29.
State media have continued to report on anti-pandemic measures to battle respiratory diseases, including the flu, but have yet to report on the lockdown order.
On Tuesday, state news agency KCNA said the city of Kaesong, near the border with South Korea, had intensified public communication campaigns "so that all the working people observe anti-epidemic regulations voluntarily in their work and life". (Reuters)
January
Thai PM walks out of news conference over question on ex-leader Thaksin
Written by Nur Yasmin
The mere mention of Thailand's ousted former premier Thaksin Shinawatra prompted Prime Minister Prayuth Chan-ocha to walk out of a news conference this week, irked by talk of the exiled political heavyweight's long-touted return.
As a general in a royalist military that ousted the governments of both Thaksin in 2006 and his sister Yingluck in 2014, Prayuth's enmity with the billionaire Shinawatra family goes back more than a decade.
In an election due by May, Prayuth, 68, could face off against Thaksin's youngest daughter, Paetongtarn, who has garnered twice as much support, topping recent opinion polls on who should be Thailand's next premier.
"Don't talk about that person. I don't like it," Prayuth said on Wednesday cutting off a reporter's question about Thaksin, before walking away from the podium and out of the venue.
Former telecoms tycoon and Premier League football club owner Thaksin has been at the heart of 17 years of on-off tumult in Thailand, despite living in self-exile mostly in Dubai since 2008, to avoid a jail term that he maintains was engineered by rivals in the military and conservative establishment.
Thaksin, 73, has been promoting his daughter's candidacy and on Tuesday accused Prayuth of dragging his heels on dissolving parliament, while reiterating he would return to Thailand soon.
Paetongtarn, 36, last week declared her readiness to be prime minister with the Pheu Thai Party, which won most seats in the 2019 election but not enough to form a government.
The Shinawatras and their allies have won unprecedented majorities in five elections since 2001, campaigning on Thaksin's name and populist policies that earned a loyal following among working-class Thais.
Prayuth, who has joined a new party, is expected to seek the premiership again after eight years in charge as both a junta chief and head of a 17-party coalition. (Reuters)
January
Myanmar opium cultivation surging under military rule - UN report
Written by Nur Yasmin
Opium cultivation in military-ruled Myanmar jumped 33% last year, reversing a six-year downward trend in the strife-torn country, a United Nations report said on Thursday.
The growth was "directly connected" to the political and economic turmoil in Myanmar since the military took power in a coup nearly two years ago, an official at the United Nations Office on Drugs and Crime (UNODC) said.
"Economic, security and governance disruptions that followed the military takeover of February 2021 have converged, and farmers in remote, often conflict-prone areas... have had little option but to move back to opium," said Jeremy Douglas, the UNODC's regional representative.
A junta spokesperson did not respond to requests for comment.
Myanmar's economy has declined since the coup, with the kyat currency plummeting against the dollar and food and fuel prices spiralling upwards.
"Without alternatives and economic stability it is likely that opium cultivation and production will continue to expand," warned UNODC Myanmar country manager Benedikt Hofmann.
The cultivated area in 2022 expanded by a third to 40,100 hectares (99,000 acres), while the average estimated yield rose 41% to nearly 20 kg (44 lb) per hectare, the highest value since the UNODC started keeping records in 2002, the report said.
The eastern Shan State, which borders China, Thailand and Laos, saw the biggest increase in cultivation, at 39%.
The 2021 report primarily used satellite data to determine cultivated area.
The value of opium produced annually in Myanmar can reach up to $2 billion, with much of the drug smuggled out to neighbouring countries and on to the global market, the report added. (Reuters)
January
U.S. sees some Chinese companies helping Russia's Ukraine effort -source
Written by Nur Yasmin
The United States has determined that some Chinese companies are providing non-lethal assistance to Russia for use in the Ukraine war and officials are noting their concern to the Chinese government, a source familiar with the matter said on Tuesday.
The source, speaking on condition of anonymity, said: "What we're seeing is non-lethal military assistance and economic support that stops short of wholesale sanctions evasion."
The source did not elaborate, and Reuters could not independently verify this account.
The United States has warned the Chinese government of consequences should China provide weaponry to Russia for use against Ukraine.
U.S. officials view the current activity as concerning and believe it is "a significantly scaled-down version of the PRC’s (Peoples Republic of China) initial plan, which was to sell lethal weapons systems for use on the battlefield," the source said.
It is unclear if the Chinese government is aware of the activity, the source said.
U.S. officials are reaching out to Chinese authorities through diplomatic channels, the source said.
"We will continue to communicate to China the implications of providing material support to Russia's war against Ukraine," said White House press secretary Karine Jean-Pierre.
U.S. State Department spokesperson Ned Price said Washington has been very clear with China about the implications of providing material to support Russia's war in Ukraine, though he declined to confirm Tuesday's reports.
"But we would be concerned if we were to see not only the PRC itself engaging in this but Chinese companies, PRC companies, doing this," Price told reporters.
Price added that he suspects it is something that will be discussed in coming days when U.S. Secretary of State Antony Blinken has an opportunity to travel to Beijing. (Reuters)
January
Kremlin expresses alarm over 'Doomsday Clock', blames U.S. and NATO
Written by Nur Yasmin
The Kremlin expressed alarm on Wednesday that the "Doomsday Clock" had edged closer to midnight than ever, even though the scientists who moved the symbolic dial cited Moscow's own "thinly veiled threats" to use nuclear weapons.
The "Doomsday Clock," created by the Bulletin of the Atomic Scientists to illustrate how close humanity has come to the end of the world, on Tuesday moved its "time" in 2023 to 90 seconds to midnight, 10 seconds closer than it has been for the past three years.
Midnight on this clock marks the theoretical point of annihilation. The clock's hands are moved closer to or further away from midnight based on scientists' reading of existential threats at a particular time.
"The situation as a whole is really alarming," Kremlin spokesman Dmitry Peskov told reporters, calling for a sober appraisal of the tensions between Russia and the West over the Ukraine crisis.
He said there was no prospect of any detente, based on "the line that was chosen by NATO under U.S. leadership".
"This imposes on us a duty to be particularly careful, to be alert and to take appropriate measures," he added.
On Tuesday, the Bulletin's president cited repeated warnings by President Vladimir Putin and other Russian politicians that Moscow might be prepared to use nuclear weapons as a key factor in the decision to advance the dial of the "Doomsday Clock".
"Russia's thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict by accident, intention or miscalculation is a terrible risk," Rachel Bronson told a news conference in Washington. (reuters)