Live Streaming
Program Highlight
Company Profile
International News (6891)
January
New Zealand business confidence at lowest since 1974
Written by Nur Yasmin
New Zealand's business confidence in the fourth quarter of last year hit its lowest level since 1974 as companies grapple with higher interest rates, cost pressures and soft demand, a private think tank said on Tuesday.
A net 70% of firms surveyed expected general business conditions to deteriorate compared with 42% pessimism in the previous quarter, the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed.
It added that business confidence is now at its lowest level since 1974, while on a seasonally adjusted basis it is the weakest since the survey started in 1970.
On a seasonally adjusted basis, 73% expected business conditions to worsen, versus 43% pessimism recorded in the previous period. The survey's measure of capacity utilisation fell to 93.7%, from the previous quarter's 94.5%.
NZIER said the survey was undertaken following the more hawkish than expected central bank meeting in November and this was weighing on sentiment.
The builders and retailers were the most downbeat in the December quarter. Firms have become much more cautious and are now looking to reduce staff and investment plans, NZIER said in its report.
A net 81% reported increased costs in the December quarter, it said. (Reuters)
January
Aid groups resume some Afghan operations with female healthworkers
Written by Nur Yasmin
Several aid organisations have restored some operations in Afghanistan after they received assurances from Taliban-run authorities that women could work in areas such as health, in spite of restrictions last month barring female NGO workers.
The International Rescue Committee (IRC), Save the Children and CARE said this week they were again operating some programmes, mostly in health and nutrition.
The Taliban administration last month ordered local and foreign aid organisations to stop letting female staff work until further notice. It said the move, condemned globally, was justified because some women had not adhered to the Taliban's interpretation of Islamic dress code.
Many NGOs suspended operations in response, saying they needed female workers to reach women in the conservative country.
"Last week, the Ministry of Public Health offered assurances that female health staff, and those working in office support roles, can resume working. Based on this clarity, IRC has restarted health and nutrition services through our static and mobile health teams in four provinces," Nancy Dent, a spokesperson for IRC, said.
A spokesperson the Afghan Ministry of Public Health told Reuters that they had not stopped any health-related activities.
"Due to a misunderstanding they stopped their health services and now they have restarted their health services," he told Reuters.
Save the Children said it had restarted a small number of its operations in health, nutrition and some of its education programs where it had received clear guidance from authorities that female workers could safely operate, but cautioned they were limited.
"The activities we're working to restart will provide vital assistance, but these activities are only the tip of the iceberg of what's required," said Samantha Halyk, a spokesperson for Save the Children. (Reuters)
January
Russia to make 'major changes' to armed forces from 2023 to 2026
Written by Nur Yasmin
Russia said on Tuesday that it would make "major changes" to its armed forces from 2023 to 2026, promising to shake up its military structure after months of setbacks on the battlefield in Ukraine.
In addition to administrative reforms, the Defence Ministry said it would strengthen the combat capabilities of its naval, aerospace and strategic missile forces.
"Only by strengthening the key structural components of the Armed Forces is it possible to guarantee the military security of the state and protect new entities and critical facilities of the Russian Federation," Defence Minister Sergei Shoigu said.
Kremlin spokesman Dmitry Peskov said the changes had been made necessary by the "proxy war" being conducted in Ukraine by the West, which has been sending increasingly heavy weaponry to Ukraine to help it resist Russian forces.
The defence ministry, which has faced sharp domestic criticism for the ineffectiveness of its drive to take control of large tracts of Ukraine, vowed in December to boost its military personnel to 1.5 million.
Kremlin spokesman Dmitry Peskov said the changes had been made necessary by the "proxy war" being conducted in Ukraine by the West, which has been sending increasingly heavy weaponry to Ukraine to help it resist Russian forces.
The defence ministry, which has faced sharp domestic criticism for the ineffectiveness of its drive to take control of large tracts of Ukraine, vowed in December to boost its military personnel to 1.5 million. (Reuters)
January
Vietnam lawmakers to hold rare extraordinary meeting - sources
Written by Nur Yasmin
Vietnam's legislature is expected to hold a rare extraordinary meeting on Wednesday, according to three sources, following a similar gathering earlier this month when two deputy prime ministers were dismissed.
The meeting of the National Assembly would come as the communist country pursues a "blazing furnace" anti-corruption crackdown that has already led to the arrest of a health minister and investigations into hundreds of senior officials.
Three sources familiar with government and parliament affairs, who declined to be identified due to the political sensitivity of the matter, said the legislature may ratify resignations of more high-ranking officials this week.
This would signal a further escalation in the corruption crackdown even as concerns grow that it may affect economic sentiment and investment.
A National Assembly information official declined to comment on the possible meeting. Calls to two other parliament officials went unanswered.
Such meetings are rare in Vietnam's rubber-stamp legislature and it is unusual for two to be held close together, or in the run-up to the Lunar New Year, the country's long holiday period.
The assembly on Jan. 5 voted to dismiss two of the government's deputy prime ministers, in a move sources said might be tied to graft scandals.
Vietnam has no paramount ruler and is officially led by four "pillars": the powerful Communist Party secretary, the largely ceremonial president, the prime minister and the chair of the assembly. (reuters)
January
Pakistan's largest province to hold snap polls in win for former PM Khan
Written by Nur Yasmin
A snap local election will be held in Pakistan's most populous province, officials said, after the provincial leader, an ally of ousted Prime Minister Imran Khan, triggered the poll, putting pressure on the government ahead a planned general election.
Holding local elections in a province with 110 million people, around half Pakistan's population, would be an expensive, logistically complicated exercise for a government dependant on foreign aid and reeling from the impact of last year's devastating floods.
By bringing forward a local poll, political analysts say it could pressure the national government into holding a countrywide election earlier to avoid the huge double cost of two votes.
Punjab is one of two provinces ruled by a coalition partner of Khan's Pakistan Tehreek-e-Insaaf (PTI) party.
Khan has been demanding general elections since he was ousted in April after losing a parliamentary vote of confidence. The 70-year-old former international cricketer has also led nationwide protests against his successor, Prime Minister Shehbaz Sharif.
Sharif has repeatedly rejected Khan's demands, saying elections will be held as scheduled later this year. As for the provincial assembly elections, Interior Minister Rana Sanaullah said the government will hold snap polls as necessary.
Punjab government spokesman Mussarat Cheema told Reuters the process to choose a caretaker government to oversee the polls had started. "We want this process to be completed as soon as possible so that we head toward elections," he said.
According to the constitution, the local assembly was automatically disbanded 48 hours after Punjab's chief minister called for it to be dissolved late on Thursday. The constitution also stipulates that elections must be held within 90 days.
Mahmood Khan, the chief minister of the other PTI-coalition ruled province, the northeastern Khyber Pakhtunkhwa, said he would call on Tuesday for the local assembly to be dissolved. (Reuters)
January
Sweden, Finland must send up to 130 "terrorists" to Turkey for NATO bid, Erdogan says
Written by Nur Yasmin
Sweden and Finland must deport or extradite up to 130 "terrorists" to Turkey before the Turkish parliament will approve their bids to join NATO, President Tayyip Erdogan said.
The two Nordic states applied last year to join NATO following Russia's invasion of Ukraine but their bids must be approved by all 30 NATO member states. Turkey and Hungary have yet to endorse the applications.
Turkey has said Sweden in particular must first take a clearer stance against what it sees as terrorists, mainly Kurdish militants and a group it blames for a 2016 coup attempt.
Sweden and Finland must deport or extradite up to 130 "terrorists" to Turkey before the Turkish parliament will approve their bids to join NATO, President Tayyip Erdogan said.
The two Nordic states applied last year to join NATO following Russia's invasion of Ukraine but their bids must be approved by all 30 NATO member states. Turkey and Hungary have yet to endorse the applications.
Turkey has said Sweden in particular must first take a clearer stance against what it sees as terrorists, mainly Kurdish militants and a group it blames for a 2016 coup attempt.
Finnish politicians interpreted Erdogan's demand as an angry response to an incident in Stockholm last week in which an effigy of the Turkish leader was strung up during what appeared to be a small protest.
"This must have been a reaction, I believe, to the events of the past days," Finland's foreign minister Pekka Haavisto told public broadcaster YLE.
Haavisto said he was not aware of any new official demands from Turkey.
In response to the incident in Stockholm, Turkey cancelled a planned visit to Ankara of the Swedish speaker of parliament, Andreas Norlen, who instead came to Helsinki on Monday.
"We stress that in Finland and in Sweden we have freedom of expression. We cannot control it," the speaker of the Finnish parliament, Matti Vanhanen, told reporters at a joint news conference with Norlen.
Separately on Monday Swedish Prime Minister Kristersson said that his country was in a "good position" to secure Turkey's ratification of its NATO bid.
Erdogan's spokesman Ibrahim Kalin said on Saturday that time was running out for Turkey's parliament to ratify the bids before presidential and parliamentary elections expected in May. (Reuters)
January
Singapore expects full tourism recovery by 2024
Written by Nur Yasmin
Singapore's international arrivals beat forecasts in 2022, paving the way for its tourism sector to recover to pre-pandemic levels by 2024, its tourism authority said on Tuesday.
The city-state saw 6.3 million visitors last year, exceeding the Singapore Tourism Board's (STB) forecast of between 4 to 6 million, while revenue from their spending was estimated to reach S$13.8 billion to S$14.3 billion ($10.45-10.82 billion).
STB's Director of Communications Terence Voon said these numbers were achieved even though Singapore had quarantine measures in the first quarter of 2022, reflecting that there is "strong pent-up demand" to visit Singapore.
But factors such as flight capacity and any renewed border restrictions could moderate tourism recovery, said STB's Chief Executive, Keith Tan.
Tourism contributes about 4% to Singapore's annual gross domestic product, according to the STB. In 2019, the regional travel hub saw a record 19.1 million visitors and S$27.7 billion in revenue.
Following the announcement of reopening of Chinese borders, the Southeast Asian country is expecting 12 to 14 million arrivals and up to S$21 billion in revenue in 2023.
There were 3.6 million visitors from China in 2019, making it the largest contributor to Singapore's tourism before the pandemic. But while it had strict travel restrictions in place, China was overtaken by Indonesia, India, Malaysia, Australia and the Philippines.
As of January this year, there are 38 flights from Singapore to China weekly, which is about 10% of the pre-pandemic capacity. The Singapore transport minister said in parliament last week that airlines have applied to operate more flights between the two countries, and the authorities will evaluate and approve them progressively.
"If Singapore were to receive more visitors in 2023 than it did in 2022, we could expect a decent boost from the resurgent services sector to act as a counterweight to softer domestic demand and slowing global trade," ING said in an analysts' report last week. (Reuters)
January
Vietnam's President Phuc quits, blamed for ministers' 'violations'
Written by Nur Yasmin
Vietnam's President Nguyen Xuan Phuc has submitted his resignation after the ruling Communist Party found him responsible for violations and wrongdoing of numerous officials under him, the country's official news agency said on Tuesday.
Phuc, 68, a former prime minister, has held the largely ceremonial position for less than two years. It was not immediately clear who would replace him.
"Fully being aware of his responsibilities before the party and people, he submitted an application to resign from his assigned positions, quit his job and retire," the Vietnam News Agency reported, citing the party's powerful Central Committee.
There was widespread speculation about Phuc's resignation following January's dismissals of two deputy prime ministers, who were working under him when he led the government.
To become effective, Phuc's resignation requires approval from the National Assembly. Reuters on Monday reported the legislature would hold a rare extraordinary meeting this week.
Vietnam has no paramount ruler and is officially led by four "pillars": the powerful party's secretary, the president, the prime minister and the chair of the parliament. (Reuters)
January
Pakistan PM Sharif offers talks with arch-rival India
Written by Nur Yasmin
Pakistan Prime Minister Shehbaz Sharif has offered his Indian counterpart talks over all outstanding issues, including disputed Kashmir, which he believes could be facilitated by the United Arab Emirates (UAE).
"My message to the Indian leadership and Prime Minister Narendra Modi is let's sit down at the table and have serious and sincere talks to resolve our burning issues, like Kashmir," Sharif said in an interview with Al Arabiya news channel, telecast by Pakistan's state run TV on Tuesday.
He said he had taken up the issue with UAE's president Sheikh Mohammed bin Zayed in his recent visit to the Emirates.
"He's a brother of Pakistan. He also has good relations with India. He can play a very important role to bring the two countries on the talking table," Sharif said.
The Indian foreign affairs ministry didn't respond immediately to a Reuters request for comment.
The two arch-rival nuclear powers have fought three wars since independence from British rule in 1947. Two of the wars were over Kashmir, a disputed Himalayan region, which both the nations claim. Each controls half of it.
The two neighbours got closer to a full scale war in 2019 when India launched an air strike inside Pakistan to target what New Delhi said was a militant training facility.
Tensions rose high when India unilaterally revoked the autonomous status of its part of Kashmir later in 2019, which Sharif said resulted in "flagrant" human rights violations.
Ever since, official talks between the two countries have been suspended, although there were some backdoor diplomacy attempts to resume negotiations - one brokered by the UAE in 2021.
Sharif said the wars between the two countries brought nothing except misery, poverty and unemployment.
"We want to alleviate poverty, achieve prosperity and provide education, health facilities and employment to our people, and not waste our resources on bombs and ammunition, that's the message I want to give to PM Modi," he said. (Reuters)
January
India writes to IMF backing Sri Lanka's debt restructuring plan - source
Written by Nur Yasmin
India has told the International Monetary Fund (IMF) it will support Sri Lanka's debt restructuring plan, a source with direct knowledge of the matter said, as the island nation races to secure a $2.9 billion bailout from the global lender.
The country of 22 million people is facing its worst economic crisis since independence from Britain in 1948, and policymakers have been grappling with multiple challenges over the past year including a shortage of dollars, runaway inflation and a steep recession.
"India has written to the IMF," the source told Reuters, asking not to be named because they are not authorised to speak to the media.
A spokesperson for India's finance ministry declined to comment. Sri Lanka's finance ministry did not immediately respond to a request for comment.
New Delhi's backing comes at a critical time for Sri Lanka as it has to put its massively indebted public finances in order to unlock the IMF loan that was agreed in September.
"India has written to the IMF," the source told Reuters, asking not to be named because they are not authorised to speak to the media.
A spokesperson for India's finance ministry declined to comment. Sri Lanka's finance ministry did not immediately respond to a request for comment.
New Delhi's backing comes at a critical time for Sri Lanka as it has to put its massively indebted public finances in order to unlock the IMF loan that was agreed in September.
Sri Lanka has to secure prior financing assurances from creditors, put its heavy debt burden on a sustainable path and increase public revenue before the global lender will disburse the funds, the IMF has said.
The IMF has stressed the importance of joint talks involving three of Sri Lanka's main bilateral creditors - China, Japan and India.
Sri Lanka's cabinet said on Tuesday that it would cut its recurrent budget expenditure by 6% in 2023 and had approved a proposal to delay salaries of some public employees to manage public finances. (Reuters)