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International News (6893)
October
The National Bank of Ukraine kept its key rate unchanged at 25% on Thursday, a level it said was forecast to be maintained until the second quarter of 2024 as it grapples with high inflation fuelled by Russia's invasion.
The central bank said it expected a 32% GDP contraction this year, a slight improvement in its forecast, and said the economy was "livening up" after falling sharply at the beginning of the war launched by Moscow in Feb. 24.
It said a gradual recovery was set to continue into 2023-24 and that a key assumption of its forecast was that security risks in Ukraine would start to decline significantly from mid-2023.
The rate meeting was the first under the central bank's new governor, Andriy Pyshnyi, who was head of Ukraine's state savings bank from 2014 to 2020 who was appointed head of the central bank on Oct. 7.
His predecessor, Kyrylo Shevchenko, resigned initially citing health problems, but later saying he faced political pressure after an old embezzlement case against him was reawakened immediately after his departure. (Reuters)
October
Russian oligarch's luxury yacht departs Hong Kong port
Written by Nur Yasmin
A luxury yacht belonging to sanctioned Russian oligarch Alexey Mordashov departed Hong Kong waters on Thursday heading for the South African port of Cape Town, according to private tracking site MarineTraffic.
The prominent sight of the 465 foot (141-metre) multi-deck Nord in the city's Victoria harbour in recent weeks had sparked criticism from the United States' State Department, which questioned the "transparency" of the financial hub and warned of reputational risks.
Valued at over $500 million, it arrived via a seven day voyage from Vladivostok in Russian Far East, down through the Sea of Japan and the East China Sea.
The Hong Kong government did not immediately respond to Reuters' questions on Thursday night.
The MarineTraffic site put the vessel southeast of Hong Kong waters early on Thursday evening, heading into the South China Sea.
A Reuters witness saw a fuel barge alongside the vessel inside the harbour at noon.
Hong Kong's leader John Lee said on Oct. 11 that the city's authorities would not act on unilateral sanctions imposed on Mordashov by individual jurisdictions.
"We cannot do anything that has no legal basis," said Lee, who himself has been sanctioned by the U.S. for his role on a crackdown on local freedoms.
Lee, who is due to host an international investment summit in November with global business leaders, said the Chinese-ruled city would only abide by United Nations sanctions. (Reuters)
October
China lodges representations over alleged harassment at Manchester consulate
Written by Nur Yasmin
China's foreign ministry, responding to a question about clashes between Hong Kong protesters and the staff of its consulate in the British city of Manchester on Sunday, said on Wednesday that it had lodged representations with Britain over the incident.
During a regular media briefing, ministry spokesman Wang Wenbin said the representations were made over what he described as malicious harassment by lawless elements. (Reuters)
October
WHO to switch to one dose of two-dose cholera vaccine amid rising outbreaks
Written by Nur Yasmin
The World Health Organization said on Wednesday it will temporarily suspend the standard two-dose vaccination regimen for cholera, replacing it with a single dose due to vaccine shortages and rising outbreaks worldwide.
The U.N. agency said "the exceptional decision reflects the grave state of the cholera vaccine stockpile" at a time when countries like Haiti, Syria, Malawi are fighting large outbreaks of the deadly disease, which spreads through contact with contaminated water and food.
As of Oct. 9, Haiti had confirmed 32 cases and 18 deaths from the disease, while many cases were still awaiting confirmation.
"The pivot in strategy will allow for the doses to be used in more countries, at a time of unprecedented rise in cholera outbreaks worldwide," WHO said in a statement on Wednesday.
The WHO's emergencies director Mike Ryan told reporters in a briefing that the change in strategy was a sign of the "scale of the crisis" caused by a lack of focus on safe sanitation and immunization for all at risk.
"It's a sad day for us to have to go backwards," he said.
The one-dose strategy had proved to be effective as a response to cholera outbreaks, the agency said, although the duration of protection is limited and appears to be much lower in children.
The disease often causes no or mild symptoms, but serious cases cause acute diarrhoea and can kill within hours if untreated.
Cholera cases have surged this year, especially in places of poverty and conflict, with outbreaks reported in 29 countries and fatality rates rising sharply. The WHO also said that climate change means that cholera is a risk in an increasing number of countries, as the bacteria causing the illness multiplies faster in warmer waters.
A cholera outbreak in Syria has already killed at least 33 people, posing a danger across the frontlines of the country's 11-year war and stirring fears in crowded camps for the displaced.
A cholera outbreak in a north Cameroon refugee camp has killed three people and infected at least 36, the UN refugee agency said on Wednesday.
The first case was confirmed on Saturday in the Minawao refugee camp, which hosts around 75,000 people who fled Boko Haram insurgents in neighbouring Nigeria. (reuters)
October
Drought forces Kenya's Maasai to sell starving cattle for a pittance
Written by Nur Yasmin
Cows too weak to stand, with sores on their hides from lying on the ground and ribcages protruding from their sides -- such is the painful sight faced by Kenya's Maasai herders as they struggle to keep their cattle alive in a severe drought.
Livestock are central to the traditional Maasai way of life, not only as the main source of food and income but also as a marker of social status and constant presence, with cows living alongside people inside circular enclosures called kraals.
Kenya, along with neighbouring Ethiopia and Somalia, is experiencing its worst drought in 40 years, with four consecutive rainy seasons having failed to materialise, wiping out livestock and crops in some regions and deepening a hunger crisis.
"This is the kind of situation we have all found ourselves in, with emaciated cattle," said Maasai pastoralist Jackson Sane, speaking at a cattle market in the town of Ilbisil, south of Nairobi.
"The brownish ones lying beside me would fetch up to around 60,000 or 65,000 shillings ($500-$530). Now they are selling for only 1,500 Kenyan shillings ($12)," he said.
The animals at the market were so weak from lack of food that men were having to lift them in and out of vehicles like unwieldy parcels.
"Maize meal prices have shot up, petrol too, while livestock prices have seriously depreciated," said cattle trader Joshua Kedoya. "We just come to the market because we are desperate and there is nothing else to do."
At his kraal, herder Ntyuyoto Sepeina gestured towards cows feeding on hay, purchased from merchants at barely affordable rates.
"Most of these cows you see here have lost all their calves to the drought. We sometimes manage to save a few, especially when we feed them like this but a majority of them end up dying." (Reuters)
October
N.Korea fires artillery shells to send 'serious warning' to S.Korea
Written by Nur Yasmin
North Korea fired 100 more artillery shells off its west coast on Wednesday, South Korea's military said, just hours after it launched hundreds of shells into the sea off its east and west coasts in what it called a grave warning to South Korea.
North Korea has been carrying out weapons tests at an unprecedented pace this year, firing a short-range ballistic missile and hundreds of artillery rounds near the heavily armed inter-Korean border on Friday.
On Monday, South Korean troops kicked off their annual Hoguk defence drills designed to boost their ability to respond to North Korea's nuclear and missile threats.
Pyongyang has angrily reacted to the South Korean and joint military activities, calling them provocations and threatening countermeasures. Seoul says its exercises are regular and defence-oriented.
North Korea fired the latest shots at around 12:30 p.m. (0330 GMT), the South's Joint Chiefs of Staff said in a statement, urging Pyongyang to halt acts threatening peace and security in the region.
A spokesman for the General Staff of the North's Korean People's Army (KPA) said the latest move was in response to South Korea's firing of over 10 shells of multiple rocket launchers near the frontline between 8:27 a.m. and 9:40 a.m.
"Our Army strongly warns the enemy forces to immediately stop the highly irritating provocative act in the frontline areas," the KPA official said.
Wednesday's exchange of firings comes shortly after the North fired some 100 shells into the sea off its west coast and shot a further 150 rounds off its east coast on Tuesday night.
North Korea said later the shots were designed to send a "serious warning" and "powerful military countermeasure" to South Korea. (Reuters)
October
Japan's Kishida, Australia's Albanese to meet in Perth -Japan govt
Written by Nur Yasmin
Japanese Prime Minister Fumio Kishida will visit Perth from Oct. 21-23 and will meet counterpart Anthony Albanese during his trip, Chief Cabinet Secretary Hirokazu Matsuno said on Wednesday.
Japan aims to further develop ties between the two nations over security, defence and the economy, including cooperation over a free and open Indo-Pacific, Matsuno said. (Reuters)
October
New Zealand's parliament on Wednesday proposed changes to the country's counter-terrorism laws to provide more restrictions on people thought likely to be planning an attack.
The changes to the Control Orders Act and the Terrorism Suppression Act follow the introduction of the Counter-Terrorism Legislation bill in 2021 in the wake of a knife attack on several people at an Auckland supermarket by a man with known extremist views.
"While no law can ever stop a motivated terrorist from undertaking an attack these changes will go a long way in preventing, disrupting and limiting their ability to do so," Justice Minister Kiri Allen said in a statement.
The changes include expanding the criteria for who can have restrictions placed on them in the community, increasing flexibility on whether someone under a control order has their identity suppressed, and making it more difficult for those categorised to have the designation of "terrorist" removed.
After the mall knife attack in 2021 the government sought a review on how to improve laws to prevent a similar attack happening. The man, who was shot dead by police, was inspired by the Islamic state militant group and was being monitored constantly by security personnel after his earlier release from prison.
It was the second extremist attack in the country in a little over two years after the massacre by a white supremacist at two mosques in Christchurch in March 2019 that killed 51 people and injured dozens more.
The changes to the Acts now have to make their way through parliament and are unlikely to be finalised before March 2023. (Reuters)
October
U.S. mulls joint weapons production with Taiwan, Nikkei reports
Written by Nur Yasmin
The U.S. government is considering a plan to jointly produce weapons with Taiwan, Japan's Nikkei newspaper said on Wednesday, citing three sources.
Washington wants to step up production capacity for U.S.-designed arms and speed up their transfer as part of a move to bolster deterrence against China, Nikkei reported.
Chinese President Xi Jinping said on Sunday that China would never renounce the right to use force over Taiwan, which it views as its own territory, but that it would strive for a peaceful resolution.
Taiwan's presidential office said earlier this week Taiwan would not back down on its sovereignty and would not compromise on freedom and democracy, but that meeting on the battlefield was not an option.
The Nikkei report added that a person with direct knowledge of the U.S. government's deliberations said discussions had begun, while a different source said it was likely to take some time.
Possibilities would include the U.S. providing technology to produce weapons in Taiwan, or producing the weapons in the United States using Taiwanese parts, the Nikkei added.
Tensions in the region remain high. On Tuesday, the Taiwan Defence Ministry said two Chinese air force planes crossed the Taiwan Strait median line. (Reuters)
October
Taiwan and U.S. tensions with China pose 'serious' challenges for chip industry - TSMC
Written by Nur Yasmin
Rising Taiwan-China and U.S.-China tensions have brought "more serious" challenges for the semiconductor industry, the chairman of Taiwanese chipmaker TSMC (2330.TW) said on Wednesday.
Taiwan is a major producer of chips used in everything from cars and smartphones to data centres and fighter jets, and Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is the world's largest contract chipmaker and Asia's most valuable listed firm.
While the chips sector is already bracing for waning demand as red-hot inflation squeezes spending, Taiwan faces a tougher situation - sandwiched between its largest export market China and its main international backer and arms supplier, the United States - especially as Beijing steps up military pressure to force Taipei to accept Chinese sovereignty claims.
Speaking at the Taiwan Semiconductor Industry Association's annual convention, TSMC Chairman Mark Liu said: "The U.S.-China trade conflict and the escalation of cross-Strait tensions have brought more serious challenges to all industries, including the semiconductor industry."
In recent years, China's government has "never stopped promoting its domestic semiconductor industry", including chip design, manufacturing, and packaging, he said.
The United States has also passed its CHIPS Act to vigorously support local research and development and manufacturing, Liu said.
Liu said he looked forward to Taiwan's industry, government and academia developing "more concrete, constructive measures" on industrial policies related to innovation, research, talent education and retention "to maintain Taiwan's most critical semiconductor industry advantages".
He noted that this year the "industry value" of Taiwan's chip sector is expected to have risen one-fifth compared with 2021, even with the impact of Sino-U.S. trade friction and geopolitical problems.
While Liu did not make direct mention of it, the sweeping set of export controls announced by the United States this month, aimed at slowing China's progress in advanced chip manufacturing, is expected to also impact Taiwanese chipmakers.
The new rules require U.S. companies to cease supplying Chinese chipmakers with equipment to make relatively advanced chips, though Washington has granted some non-Chinese companies operating in China one-year licenses."
"The difficulty this time will be a very big challenge," Nicky Lu, chairman of Taiwan chip design firm Etron Technology Inc (5351.TWO), told reporters ahead of the event. "No one will escape the impact."
Frank Huang, chairman of Powerchip Semiconductor Manufacturing Corp , said the sector was caught in a difficult situation.
"We do business on both sides of the Strait. So we can't listen to the U.S. and not do any business with mainland China. Then what would everyone eat?" Huang said. "Our industry's position is to maintain our competitiveness."
TSMC, which makes most of its chips in Taiwan, last week cut its annual investment budget by at least 10% for 2022 and struck a more cautious note than usual on upcoming demand.
TSMC's dominance in making some of the world's most advanced chips for high-end customers such as Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) has shielded it in recent quarters from the downturn flagged by chipmakers including Micron Technology Inc (MU.O). (Reuters)