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September
Japan expected to announce wedding of Princess Mako as soon as Friday –media
Written by Nur Yasmin
Japan's Imperial Household Agency (IHA) is expected to formally announce Princess Mako's marriage to a former college classmate as soon as Friday, media said, following years of intense scrutiny that cast her engagement in an unflattering light.
Details have not yet been confirmed, but the couple will opt out of a one-off payment of a million dollars to which the princess is entitled upon giving up her royal status, broadcaster NHK has said. read more
The engagement of the 29-year-old grand-daughter of then Emperor Akihito and former classmate Kei Komuro was announced in 2017. But the marriage was put off after reports of a financial dispute between Komuro's mother and her former fiance.
The couple will register their marriage at a local government office, with records of the imperial family adjusted to reflect that Princess Mako has left it, the report added.
The IHA, which has not made an official announcement on the marriage or on the one-off payment, has no comment, an agency spokesperson told Reuters on Thursday.
The fiancé, who is enrolled in a New York law school, flew into Tokyo on Monday for the first time in three years, wearing long hair tied in a pony tail, a style that stirred comment on mid-day television shows and from tabloids.
The controversy over the marriage plan started when a tabloid reported claims by a former fiance of Komuro's mother that the mother and son had failed to repay a debt of about 35,000 dollars.
Komuro has said his mother's former fiancé provided the money as a gift, not a loan.
The IHA postponed multiple engagement ceremonies following the scandal and has made no plans since to hold them.
The issue gained momentum after the tabloid coverage grew into a national concern that spilled into broadsheet newspapers, said Akinori Takamori, an expert on the imperial family who is a lecturer at Kokugakuin University in the capital.
It swelled further when members of the imperial family felt impelled to speak out and secure public understanding.
"Even the most minuscule details – like his hair – became fodder for day-time television," Takamori said, adding that he felt the extent of media coverage of Komuro's family life could even amount to "a human rights violation".
A recent poll by the daily Mainichi showed 38% of respondents supported the marriage, while 35% opposed it, and 26% expressed no interest.
"It's not desirable to have the people split over this matter when the imperial family should be a symbol of unity for the country," Takamori said. (Reuters)
September
Investors see Japan's Kishida as "safe-pair-of-hands" but reforms in question
Written by Nur Yasmin
Investors see Japan's new leader, Fumio Kishida, as a steady consensus-builder who can lead the ruling Liberal Democratic Party and its coalition partner to victory in a general election due in November.
But while the elimination of some political uncertainties is seen as benefiting Japanese stock prices in the near term, investors are not sure if he can push ahead with the tough measures seen as necessary to boost economic health.
Kishida, 64, won a ruling party leadership vote on Wednesday and is due to become prime minister next week.
He inherits an economy that is picking up steam thanks to falling coronavirus cases, increasing vaccinations and an improving earnings outlook, all of which should support Japanese stocks. read more
Japanese shares (.MIJP00000PUS) have risen 1.6% this month, outperforming a fall of more than 3% in the United States (.MIUS00000PUS) and Europe (.MIEU000000PUS).
Investors agree Kishida is more predictable than his rivals for the top job, such as vaccine minister Taro Kono, with his anti-nuclear streak, and Sanae Takaichi, a diplomatic hawk and a social conservative.
"Kishida can been seen as a safe pair of hands, particularly on the diplomatic front," said George Boubouras, head of research at K2 Asset Management in Melbourne.
"His long tenure as foreign affairs minister under Abe is an obvious good, positive market signal.".
Kishida held key posts under former Prime Minister Shinzo Abe and had been seen as an heir to Japan's longest-serving prime minister, who retains a lot of influence in the ruling party.
But Kishida's reserved style has also raised questions about whether he can push through reforms to boost competitiveness.
"The pandemic laid bare how old-fashioned Japan's bureaucracy is. Japan is also falling behind on environment technologies. These are some of the issues the government needs to tackle," said an investment manager at a major Japanese insurance firm.
"Markets probably view the outcome as a decision by the LDP to avoid changes. If you put it nicely, Kishida represents stability. But if you put it badly, the ship will continue sinking slowly and that won't change."
Abe's promise almost a decade ago to carry out structural reforms, energised investors but many think he fell short when it came to delivering results.
"If Kishida can project an inclination toward structural reform, that would likely be appreciated by offshore investors and result in flows into Japan's stock market," said Yunosuke Ikeda, chief equity strategist at Nomura Securities.
In the near term, there are unlikely to be big policy initiatives as an election for the lower house must be held by Nov. 28.
"Kishida will immediately have to deal with an election campaign. It will be hard to talk about any painful reforms before that," said Shinichi Ichikawa, senior fellow at Pictet Asset Management.
"I don't think investors will build large positions ahead of the election without knowing what kind of policies will be implemented." (Reuters)
September
Flight carrying Americans from Kabul departs UAE bound for US
Written by Nur Yasmin
A group of American citizens and lawful permanent residents evacuated to the United Arab Emirates from Afghanistan flew out of the Gulf state bound for the United States on Thursday, the country's foreign ministry said, after being temporarily held up for vetting.
The Department of Homeland Security had denied U.S. landing rights for a charter plane carrying more than 100 evacuees, said organisers of that earlier flight -- one of several that emerged from ad hoc networks that formed to bolster last month's chaotic evacuation operation from Afghanistan. read more
But the State Department said on Wednesday that more than 100 U.S. citizens and lawful permanent residents evacuated to Abu Dhabi from Afghanistan aboard the charter flight were expected to fly on to the United States on Thursday. read more
The State Department had said that U.S. officials were working to verify the accuracy of the list of passengers that had been evacuated to the UAE capital Abu Dhabi.
"The processing of those passengers has been completed and they have already departed for the United States on a commercial aircraft (Etihad) this morning," the UAE foreign ministry said in an emailed response to Reuters. read more
It did not say whether all the passengers had flown out.
Bryan Stern, a founder of nonprofit group Project Dynamo that chartered the flight, had said 28 U.S. citizens, 83 green card holders and six people with U.S. Special Immigration Visas granted to Afghans who worked for the U.S. government during the 20-year war in Afghanistan were aboard the Kam Air flight from Kabul to Abu Dhabi.
President Joe Biden's administration has said its top priority is repatriating Americans and green card holders who were unable to leave Afghanistan in the U.S. evacuation operation last month. (Reuters)
September
N.Korea's Kim offers to reopen hotline with South; denounces 'hostile' U.S.
Written by Nur Yasmin
North Korean leader Kim Jong Un said he is willing to restore severed inter-Korean hotlines next month but accused the United States of proposing talks without changing its "hostile policy", the North's KCNA state news agency reported on Thursday.
Kim made the remarks at the reclusive country's rubber-stamp parliament, the Supreme People's Assembly, which gathered for a second day to discuss the government's political, economic and social agenda.
North Korea this week conducted its latest in a series of weapons tests, firing a previously unseen hypersonic missile and joining a race for the advanced weapons system led by major military powers. It again demanded that South Korea and the United States scrap "double standards" over weapons development. read more
The United States and ally South Korea have for years been trying to press North Korea to give up its nuclear and missile programmes in exchange for sanctions relief.
Kim has refused to abandon weapons he says North Korea needs for its defence and has at times tried to drive a wedge between the two allies.
In his latest comments, he expressed a willingness to reconnect inter-Korean hotlines but criticised South Korea's "delusion" over what it calls North Korean military provocations.
"We have neither aim nor reason to provoke South Korea and no idea to harm it," Kim said, according to KCNA.
North Korea severed the hotlines in early August in protest against joint South Korea-U.S. military exercises, just days after reopening them for the first time in a year. read more
The decision to restore the communication link was to help "realise the expectations and desire of the entire Korean nation" for recovery and durable peace, Kim said.
South Korea's Unification Ministry, which handles inter-Korean affairs, welcomed Kim's offer on the hotlines but did not comment on his other remarks.
Kim took a tougher line on the United States, accusing President Joe Biden's administration of "employing more cunning ways and methods" in pursuing military threats while offering talks.
"The U.S. is touting 'diplomatic engagement' and 'dialogue without preconditions' but it is no more than a petty trick for deceiving the international community and hiding its hostile acts," Kim said.
The Biden administration has said it reached out to Pyongyang to break an impasse over denuclearisation talks. read more
'OPEN TO ENGAGEMENT'
Sung Kim, the U.S. special envoy for North Korea, said on Thursday the North's missile tests posed a threat to neighbours, and he stressed that the United States had "no hostile intent" toward North Korea and was ready for "tangible progress" on the diplomatic front.
"We remain open to engagement ... to discuss the full range of bilateral and regional issues," the U.S. envoy said after meeting his South Korean counterpart in Indonesia, where he serves as U.S. ambassador.
The U.N. Security Council will meet on Thursday over the North's latest test following requests from the United States, Britain and France, diplomats said.
Analysts say the North's carrot-and-stick approach is aimed at securing international recognition as a nuclear weapons state and dividing the United States and South Korea, taking advantage of President Moon Jae-in's desire for a diplomatic legacy before his term ends in May.
"The North seems upset about the Biden administration having not made any concrete, tempting proposal to resume negotiations," said Yang Moo-jin, a professor at the University of North Korean Studies in Seoul.
North Korea was also attempting to foster a more positive mood towards it in the South ahead of its presidential election and to press Moon to help shift the U.S. stance, he said.
Kim Jong Un did not refer to the North's recent missile tests but touted "ultra-modern weapons which are being developed at an extremely fast speed" and capable of containing "hostile forces."
KCNA separately reported that Kim Yo Jong, the leader's powerful sister, was named a new member of the State Affairs Commission, a top body created in 2016 and chaired by Kim Jong Un, as part of a reshuffle unveiled on the sidelines of the parliament meeting.
Kim Yo Jong, 32, has risen rapidly since her brother took power in 2011, becoming a senior official on propaganda and ideological messaging in 2014 and later taking on diplomatic duties. (Reuters)
September
Vietnam's biggest city to start lifting COVID-19 curbs to spur business
Written by Nur Yasmin
Vietnam's commercial hub Ho Chi Minh City will start relaxing its coronavirus curbs from later on Thursday, officials said, allowing more business and social activities after four months of measures aimed at arresting a spiralling death rate.
Policies will seek to spur the economy and restore some normalcy while coexisting with the virus, which hit the country hard in recent months, with overall deaths jumping from 36 in mid May to more than 19,098 as of Wednesday.
"All checkpoints on the streets will be lifted and no travel permits will be needed after today," Le Hoa Binh, deputy chairman of the city's people's committee, told a news conference.
"We are gradually opening but put our resident's safety first."
The city about 9 million people has borne the brunt of Vietnam's coronavirus crisis, accounting for 80% of the country's fatalities and half of its nearly 780,000 cases.
The capital Hanoi, however, has by comparison been only mildly impacted.
From Oct. 1, Ho Chi Minh City's industrial parks, construction projects, malls, barber shops, hospitality facilities and restaurants for takeaways can resume operations, Binh said.
Movement curbs have forced the closure of many factories in its industrial belt, prompting warnings from some foreign commerce groups that prolonged curbs could see them shift business to other countries. read more
"We foresee a huge shortage of labour force at manufacturing factories and construction when the city reopens," Binh added.
"There are many chances for the unemployed to find new jobs and start over."
Authorities are seeking to accelerate inoculation, prioritising workers and people over 50. About one-third of the city's residents have been fully vaccinated. (Reuters)
September
Philippines defence chief says was urged by China to drop review of U.S. pact
Written by Nur Yasmin
China has opposed a Philippines-led push for a review of its 70-year-old defence treaty with the United States, Manila's defence minister said on Thursday, concerned that it could be seen in Beijing as an effort to contain its rise.
The Philippines is keen to amend the 1951 Mutual Defense Treaty (MDT) to make clear the extent to which the United States would protect and defend its ally should it come under attack.
At an event to mark the MDT's 70th anniversary, Defence Secretary Delfin Lorenzana said he had been urged by a former Chinese diplomat to back off.
"While the U.S. welcomes the idea of revisiting the MDT, an outside party does not," he said.
"The former Chinese ambassador came to me and said: 'Please do not touch the MDT. Leave it as it is,'" said Lorenzana.
He later clarified the conversation took place in 2018.
"It did surprise me. I asked him why? He said any attempt to revise the MDT would be construed by the Chinese government as act to contain the rise of China," Lorenzana told Reuters.
Asked how he responded, Lorenzana said: "I just looked at him and smiled".
There was no immediate comment from the Chinese embassy in Manila.
The push for clarity on Washington's commitment comes amid a rapid buildup of Chinese maritime assets in contested areas of the South China Sea, including what the Philippines says is a militia disguised as a massive fishing fleet near Beijing's militarised manmade islands.
The Philippines has filed dozens of diplomatic protests about the militia and announced it would send another on Thursday.
The Philippine-U.S. alliance has existed for decades, with a rotating presence of U.S. troops for joint exercises, intelligence exchanges and hardware transfers.
Lorenzana said it was clear that strengthening the MDT was not in China's interests.
"The Chinese, having embedded themselves with their artificial islands, are not in a hurry for any resolution," he told the forum.
"It knew that any aggression it takes will trigger the MDT." (Reuters)
September
N.Korea joins race for new hypersonic missile with latest test
Written by Nur Yasmin
North Korea test-fired a newly developed hypersonic missile this week, state news media KCNA reported on Wednesday, joining a race headed by major military powers to deploy the advanced weapons system.
North Korea fired the missile off its east coast towards the sea on Tuesday, South Korea's military said, as Pyongyang called on the United States and South Korea to scrap their "double standards" on weapons programmes to restart diplomatic talks. read more
North Korea has been steadily developing its weapons systems amid an impasse over talks aimed at dismantling its nuclear and ballistic missile arsenals in return for U.S. sanctions relief.
Sung Kim, the U.S. special envoy for North Korea, said the latest launch was "destabilising" and posed a regional threat, but Washington would continue diplomatic efforts to denuclearise the Korean peninsula.
"We are waiting to hear back from Pyongyang. We have made a number of approaches ... and proposed dialogues on a wide range of topics," he told a virtual forum from Jakarta where he serves as U.S. ambassador to Indonesia.
Unlike ballistic missiles that fly into outer space before returning on steep trajectories, hypersonic weapons fly towards targets at lower altitudes and can achieve more than five times the speed of sound - or about 6,200 km per hour (3,850 mph).
South Korea's Joint Chiefs of Staff said the North's hypersonic missile was at an early stage of development, judging by detected velocity and other data, and would take a "considerable period of time" until it could be deployed.
The development of the weapons system increased North Korea's defence capabilities, KCNA said, describing the hypersonic missile as a "strategic weapon".
North Korean leader Kim Jong Un did not inspect the launch, according to the report.
"In the first test-launch, national defence scientists confirmed the navigational control and stability of the missile," the report said.
It said the missile, called the Hwasong-8, performed to its technical targets "including the guiding manoeuvrability and the gliding flight characteristics of the detached hypersonic gliding warhead."
NEXT GENERATION OF ARMS
Hypersonic weapons are considered the next generation of arms that aim to rob adversaries of reaction time and traditional defeat mechanisms.
The test could mean the North is entering an accelerating race to deploy the weapon now involving the United States, Russia and China.
The United States on Monday said it had tested an air-breathing hypersonic weapon, marking the first successful test of the class of weapon since 2013.
In July, Russia successfully tested a Tsirkon (Zircon) hypersonic cruise missile, a weapon President Vladimir Putin touted as part of a new generation of missile systems without equal in the world.
Chang Young-keun, a missile specialist at the Korea Aerospace University, said the North's test of the hypersonic gliding vehicle (HGV) was likely a failure, given the flight was clocked at Mach 2.5, citing reported assessment by South Korean military intelligence.
"The North's HGV technology is not comparable to those of the U.S., Russia or China and for now seems to aim for short-range that can target South Korea or Japan," Chang said.
North Korea last week said it was willing to consider another summit with the South if mutual respect between the neighbours can be assured, following South Korean President Moon Jae-in's call for a declaration to formally end the 1950-1953 Korean War.
The denuclearisation negotiations, initiated between former U.S. President Donald Trump and North Korean leader Kim in 2018, have stalled since 2019.
The two Koreas both test-fired ballistic missiles on Sept. 15, part of an arms race in which both nations have developed increasingly sophisticated weapons while efforts prove fruitless to get talks going on defusing tensions. (Reuters)
September
Support for Dutertes declines in Philippines election survey
Written by Nur Yasmin
The daughter of Philippine leader Rodrigo Duterte remains the most popular prospect for next year's presidential election, an opinion poll showed on Wednesday, while her father slipped into second among contenders for the vice-presidency.
Sara Duterte-Carpio, who this month said she would not seek higher office, has topped all surveys on prospective candidates ahead of registration, which opens on Friday. Her father cannot run for a second term and will seek the vice presidency.
But other potential candidates cut into Duterte-Carpio's lead in the Pulse Asia survey of 2,400 people, held earlier this month, with her support dropping from 28% to 20%.
Boxer Manny Pacquiao, who announced his retirement from the sport on Wednesday to run for the presidency, rose one notch to fourth, with 12% support, up from 8% previously.
Ahead of Pacquiao with 15% was the son and namesake of late dictator Ferdinand Marcos, who has yet to confirm his plans, plus Manila mayor Francisco Domagoso, with 13%.
The same poll showed Senate speaker Vicente Sotto overtaking Duterte as the top contender to become vice president, which in the Philippines is a separate contest. Duterte dropped to 14% from 18%.
Sotto, a former actor and comedian, won 25% support, a big jump from his 10% in the previous poll.
Duterte's decision to seek the largely ceremonial position has been met with skepticism, with critics convinced he has ambitions to retain power, or remain in high office to stymie possible legal action over thousands of state killings during his notorious war on drugs.
Duterte said he wants to serve the public.
A separate survey released this week by Social Weather Stations showed 60% of 1,200 respondents believed his move violates the intention of the constitution, which has a one-term limit to prevent abuse of power. (Reuters)
September
Japan's new premier Kishida to sustain big fiscal, monetary support - for now
Written by Nur Yasmin
Japan's struggle to emerge from the pandemic-induced doldrums will leave next prime minister Fumio Kishida with little choice but to maintain massive fiscal and monetary support for a fragile economy.
But Kishida may gradually shake off the legacies of former premier Shinzo Abe's "Abenomics" stimulus policies if he strengthens his grip on power by winning forthcoming general elections, some analysts say.
Having won a ruling Liberal Democratic Party (LDP) leadership race on Wednesday with support from various factions, Kishida is unlikely to rock the boat by overhauling the current pro-business, reflationary policies undertaken by Abe and his successor Yoshihide Suga any time soon. read more
"We must compile by year-end a stimulus package sized at several tens of trillion yen," Kishida said in a speech after the party race, signalling that Japan will lag other advanced nations in dialing back crisis-mode policies.
Wednesday's victory assures Kishida will be voted to become next prime minister in a Diet session to be convened next week, given the party's majority in parliament.
Analysts also expect little change to the Bank of Japan's ultra-loose policy given Kishida's recent comments stressing the need to underpin growth with huge monetary stimulus.
Over the long-term, however, Kishida could bring change particularly if he secures a strong mandate by winning a lower house vote this year and an upper house election next year.
Kishida has already distanced himself from Abenomics by calling for more focus on distributing wealth to households. read more
Under Abenomics - a strategy deployed by Abe in 2013 seeking to boost growth and inflation with a mix of expansionary fiscal and monetary policies - share prices and corporate profits boomed. But household wealth shrank as companies remained reluctant to boost wages. read more
"If anything, Kishida's policies will likely focus on income distribution compared to Abenomics," said Masaaki Kanno, chief economist at Sony Financial Holdings.
LESS BOJ PRESSURE
While Kishida has called on the BOJ to keep its policy ultra-loose for now as the economy tries to recover from the pandemic, he said back in 2018 the current monetary easing "cannot last forever" given the rising side-effects of prolonged stimulus.
Kishida's awareness of the demerits of radical easing could mean he will rely less on monetary stimulus to drive up growth, said Izuru Kato, chief economist at Totan Research.
"As prime minister, Kishida won't want any abrupt reversal of monetary easing. But he also won't put explicit pressure on the BOJ to ramp up stimulus," Kato said.
Kishida could also yield strong influence on how quickly the central bank withdraws stimulus, if he stays in power long enough to choose a successor when BOJ Governor Haruhiko Kuroda's term ends in 2023.
"Debate over a post-Kuroda monetary policy framework may emerge late 2022, around the time the U.S. Federal Reserve could be deliberating interest rate hikes," said Daiju Aoki, chief Japan economist at UBS Sumi Trust Wealth Management.
"If so, the government and the BOJ may face the need to lay out their views on an exit strategy from ultra-loose monetary policy," he said. (Reuters)
September
In victory for Japan establishment, Kishida anointed next ruling-party head
Written by Nur Yasmin
Japan's ruling Liberal Democratic Party (LDP) on Wednesday anointed former foreign minister Fumio Kishida as its next leader in a victory for the party's establishment that virtually ensures he will become prime minister within days.
Although he enjoys only moderate popular support, Kishida was backed by some of the party's heavyweights, allowing him to stop the momentum of rising star Taro Kono, the minister in charge of the coronavirus vaccine roll-out.
It was not clear if Kishida's bland image could spell problems for the LDP in a general election due by Nov. 28. Nevertheless, he focused on populist issues - such as the need to forge a new kind of capitalism and ease divisions of wealth - in his first news conference.
"We will strive to achieve economic growth and distribution," of wealth, he said, adding there was no way to achieve growth without distributing wealth.
Kishida, who succeeds unpopular Prime Minister Yoshihide Suga who did not seek re-election as party leader after just one year in office, is almost certain to become premier at a parliamentary session on Monday because of the LDP's majority in the lower house.
He is expected to form a new cabinet and reshuffle the LDP executive in early October.
Media, quoting LDP executives, reported that the lower chamber will likely be dissolved in mid-October with an election on either Nov. 7 or Nov. 14.
ESTABLISHMENT WIN
"A win for the establishment. Kishida stands for stability, for not rocking the boat and most importantly, doing what elite technocrats tell him to do," Jesper Koll, expert director at Monex Group.
Kono, a fluent English speaker with a large following on Twitter known for being outspoken, has long been seen as something of a maverick, and was not regarded as the top choice of some of the party's powerbrokers.
Two female contenders, Sanae Takaichi, 60, and Seiko Noda, 61, dropped out after the first round.
Kishida's victory is unlikely to trigger a huge shift in policies as Japan seeks to cope with an assertive China and revive an economy hit by the pandemic.
He shares a broad consensus on the need to boost Japan's defences and strengthen security ties with the United States and other partners including the QUAD grouping of Japan, the United States, Australia and India, while preserving vital economic ties with China.
Specifically, Kishida wants to beef up Japan's coast guard and backs passing a resolution condemning China's treatment of members of the Uyghur minority. He wants to appoint a prime ministerial aide to monitor their human rights situation.
He has proposed a spending package of more than 30 trillion yen, adding that Japan likely would not raise a sales tax rate from 10% "for about a decade".
He has stressed the need to distribute more wealth to households, in contrast to the focus of Abe's "Abenomics" policies on boosting corporate profits in the hope benefits trickle down to wage-earners. (Reuters)