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February
Japan has no plans to review sales tax rates, finance minister says
Written by Nur Yasmin
Japanese is not considering reviewing future national sales tax rates as the current 10% levy provides a vital source of funding the social security spending to support its ageing population, the finance minister said on Friday.
Shunichi Suzuki told reporters after a cabinet meeting that Japan must tackle spending and revenue reform to win market trust in its fiscal position, which he said was severe. (Reuters)
February
Novavax's COVID-19 shot receives provisional approval in New Zealand
Written by Nur Yasmin
Novavax Inc (NVAX.O) said on Thursday it had received provisional approval from New Zealand's medicines regulator for its COVID-19 vaccine, Nuvaxovid, for individuals 18 years of age and older. (Reuters)
February
Hong Kong expands government work-from-home plans as Omicron bites
Written by Nur Yasmin
The Hong Kong government said on Thursday it would extend a work-from-home plan for civil servants as health officials warned tougher measures could follow amid a worsening COVID-19 outbreak.
Aside from those involved with essential and urgent work, all other civil servants - who had been due to resume work on Friday - will remain working from home until Feb. 11.
Health officials said on Thursday many untraceable transmission chains of the Omicron variant were spreading across the global financial hub - a warning that comes as many Hongkongers enjoy Lunar New Year gatherings.
"There is quite severe community transmission at the moment," said Dr Chuang Shuk-kwan of the city's health department.
"The government is closely monitoring the situation and we will announce further measures as appropriate," she said.
Officials recorded 142 cases on Thursday, figures that are expected to rise, with a further 160 cases classed as preliminary positive. In total, Hong Kong has recorded 213 COVID-19 deaths and has had 13,912 confirmed cases, according to the government.
On Thursday last week, the city marked 162 new infections - a daily record since the pandemic started in 2020.
The city has been grappling with triple-digit rises for much of the last two weeks as Omicron outbreaks threaten a "zero-COVID" policy that has seen Hong Kong become one of the most isolated major international cities, with 90 per cent of flights curbed.
City leader Carrie Lam last week extended other citywide restrictions until Feb. 17.
Schools, playgrounds, gyms and most venues are shut, while tens of thousands of people must do daily coronavirus tests.
Some banks and other large firms last week implemented new work-from-home plans. (Reuters)
February
U.S. advice to banks: OK to transfer aid money to Afghanistan
Written by Nur Yasmin
International banks can transfer money to Afghanistan for humanitarian purposes, and aid groups are allowed to pay teachers and healthcare workers at state-run institutions without fear of breaching sanctions on the Taliban, the United States said on Wednesday.
The U.S. Treasury Department offered guidance on sanctions exemptions issued in September and December for humanitarian work in Afghanistan, where the United Nations says more than half the country's 39 million people suffer extreme hunger and the economy, education and social services are facing collapse.
U.N. Secretary-General Antonio Guterres last week warned Afghanistan was "hanging by a thread."
The Taliban, which has long been blacklisted by the United States as a terrorist group, seized power from Afghanistan's internationally backed government in August. Billions of dollars in Afghan central bank reserves and international development aid were frozen to prevent it from falling into Taliban hands.
International banks have been wary of Afghanistan and the United Nations and aid groups are struggling to get enough money into the country to fund operations.
The U.S. Treasury said banks can process transactions related to humanitarian operations "including clearing, settlement, and transfers through, to, or otherwise involving privately owned and state-owned Afghan depository institutions."
It also outlined permitted transactions involving the Taliban, which includes the also blacklisted Haqqani Network. These include signing agreements to provide aid directly to the Afghan people, general aid coordination, including import administration, and sharing of office space.
"Payments of taxes, fees, or import duties to, or the purchase or receipt of permits, licenses, or public utility services from" the Taliban, Haqqani Network or any entity in which they own more than 50% is authorized for humanitarian operations, the Treasury said.
It also said aid groups are allowed to ship cash to Afghanistan for humanitarian operations and can make direct payments to healthcare workers and teachers in public hospitals and schools. (Reuters)
February
"We're not done" with sanctions on Myanmar junta and its supporters, says U.S. envoy
Written by Nur Yasmin
Washington will continue to impose sanctions on Myanmar's military and those who have helped the junta that seized power a year ago, U.S. State Department Counselor Derek Chollet said on Wednesday.
The United States, along with Britain and Canada, this week imposed the latest round of sanctions on people and organizations connected with Myanmar, targeting judicial officials involved in prosecutions against Aung San Suu Kyi, the deposed leader who has been detained since the coup on Feb. 1, 2021.
"And we’re not done," Chollet said. "There are those who are behind the coup or helped the coup, there’s also those who are working to undermine the democratic path inside Burma, and we’ll continue to look closely at any individual or entity that is part of that."
The coup triggered strikes and protests that led to about 1,500 civilians being killed in crackdowns and around 11,800 unlawfully held, according to United Nations human rights office figures.
Myanmar's embassy in Washington did not immediately respond to a request for comment. In the past, the military has rejected allegations of abuses, accused its international critics of ignoring abuses by its opponents and said it can withstand sanctions and international isolation.
Speaking in a virtual event hosted by the Center for Strategic and International Studies in Washington, Chollet said the Biden administration had now imposed sanctions on 65 individuals and sanctioned or placed export controls on 26 organizations "with close regime ties."
The U.S. sanctions announced on Monday included one Myanmar businessman targeted for helping the military procure arms and another for giving it financial support.
Chollet said Washington was in regular contact with opponents of the military, including the National Unity Government, a parallel administration that wants the West to do more to squeeze the junta.
Chollet has met with officials in Singapore, Myanmar's biggest source of foreign investment in recent years, to discuss ways to limit the military's access to financial assets overseas.
U.S. Treasury officials are "working very, very intensively" with Singapore to find ways to influence the Myanmar military's thinking, Chollet said. (Reuters)
February
S.Korean voters hold noses as rivals land low blows in 'unlikeable' election
Written by Nur Yasmin
Going by opinion polls, the two leading candidates for South Korea's presidency have a big problem - their disapproval ratings are so high that the March 9 vote has been dubbed the "unlikeable election".
Started by pundits and popularised by the media, the name has stuck, and even the candidates shamefacedly acknowledge the ugly image they've helped create.
Voters wanting to hear what they will do about runaway property prices and the widening income inequality in Asia's fourth largest economy have been disappointed by election campaigns that have stooped to vicious personal attacks.
"I know people are worried about intensifying back-to-back negative campaigns," Lee Jae-myung, the ruling Democratic Party candidate, said during a news conference last week in which he pledged to focus more on policy issues.
"I am ashamed every time I hear this is the most unlikeable election. I sincerely apologise."
Lee and Yoon Suk-yeol, his rival from the conservative People Power Party, will participate in the first live television debate between the main contenders on Thursday evening.
A former governor of Gyeonggi province, Lee gained prominence through his aggressive response to the COVID-19 pandemic and his advocacy of universal basic income, while Yoon is a former prosecutor-general and political novice.
Both parties' smear tactics have targeted not just the candidates, but their families too.
Yoon was forced to deny accusations levelled by Democrats that a shaman who is close to his wife was deeply involved in the People Power Party campaign.
But, he also had to apologise for his wife's inaccurate resume when she applied for teaching jobs years ago. read more
For his part, Lee has apologised over his son's illegal gambling, and he was forced back into damage limitation mode by media reports on Thursday.
Lee said he would undergo an investigation if necessary after allegations that a provincial government employee illegally served as a personal assistant to his wife and that she misappropriated government funds through a corporate credit card.
Lee apologised for causing public concern, but did not say whether the reports were true.
WHO'S WORSE?
All the mudslinging has left many voters holding their noses while making their pick.
"I can't help but keep thinking who's the lesser evil, which makes me sad," said Kim, a 38-year-old office worker who only gave her surname, and identified herself as a floating voter.
Until recently, surveys conducted for various newspapers and broadcasters showed both Lee and Yoon drawing disapproval ratings of around 60%, but now they are down to 50% or less.
The support numbers are unconvincing, with polls showing conflicting results.
A survey released on Thursday by Hangil Research showed 40.4% of respondents favoured Lee and 38.5% picked Yoon, while Opinion Research Justice put Yoon 5.4% ahead with 43.5%.
Public disillusion with the country's political class festered during the five-year term of the outgoing president, Moon Jae-in.
Presidents are only allowed one term in South Korea. And having vowed to clean up politics after his predecessor was impeached and jailed for graft, Moon's own presidency became mired in policy failures and corruption scandals, fuelling voters' cynicism over the perceived hypocrisy.
The chief beneficiary from the backlash against mainstream politicians has been Ahn Cheol-soo, a renowned software mogul and doctor who is running as a minor opposition challenger after losing to Moon in the 2017 election.
Ahn's ratings hovered between 7-8% in the latest polls after peaking at about 15%, but his showing has added to uncertainty over the ballot's outcome.
Polls show Yoon and Ahn would stand a better chance of winning if they united under one ticket, but both say that is not under consideration for now, even if some of their campaign staff think it could be the way to go. (Reuters)
February
ASEAN to exclude Myanmar foreign minister from meeting, says Cambodia
Written by Nur Yasmin
Cambodia said on Thursday a non-political representative from Myanmar had been invited to attend a regional ministerial meeting later this month instead of the country's military-appointed foreign minister.
Cambodia is currently chair of the Association of Southeast Asian Nations, which late last year sprung a surprise by barring Myanmar's junta from key meetings over a failure to honour a peace plan agreed with the bloc.
Cambodia Prime Minister Hun Sen had sought to re-engage with the junta and had indicated he wanted to invite its leaders to meetings of the 10-member bloc again.
But ASEAN members had not reached a consensus on inviting Foreign Minister Wunna Maung Lwin amid a lack of progress in the peace plan, said Cambodia's Foreign Ministry spokesman Chum Sounry.
"Meanwhile, we encourage Myanmar to be represented at the retreat by a non-political level rather than leaving the seat empty," Chum Sounry told Reuters, adding it was up to Myanmar to decide who the representative should be.
A spokesman for Myanmar's junta did not answer a telephone call seeking comment.
Cambodia is due to host the meeting of ministers on Feb. 16 and 17. read more
Myanmar has been in crisis since the military overthrew an elected government a year ago, with around 1,500 civilians killed in the junta's crackdown on its opponents, according to figures cited by the United Nations human rights office.
Troops in the countryside are also fighting on multiple fronts with pro-democracy groups that have taken up arms and ethnic minority forces.
Cambodia said in a statement on Wednesday it was "deeply concerned" about reports of continued violence and a deterioration of the humanitarian situation in Myanmar.
"ASEAN member states underline the urgency of the immediate cessation of violence and for all parties to exercise utmost restraint," it said.
But divisions over the issue have persisted and Hun Sen met military leader Min Aung Hlaing in Myanmar on Jan 7, a trip that had some regional neighbours worried it could be construed as an endorsement of the junta.
Hun Sen has come under pressure to hold Min Aung Hlaing to the ASEAN peace agreement and some members have demanded ousted leader Aung San Suu Kyi, who is on trial, be freed and allowed to join a peace process. (Reuters)
February
EXCLUSIVE IMF staff cut critical coal language from Japan statement -document
Written by Nur Yasmin
The International Monetary Fund deleted a sentence critical of Japan's continued financing of high-emissions coal projects from a staff mission statement on the Japanese economy, a copy of an earlier draft viewed by Reuters shows.
The IMF issued the report on Jan. 28 at the conclusion of a routine country surveillance mission to Tokyo to review Japan's economic policies. read more
The published concluding statement from IMF staff focused on Japan's need to scale back pandemic-relief measures as its economy recovers. It included a section entitled "Shifting to a Low-carbon Economy" that made no mention of coal but said meeting carbon emissions reduction goals would be especially challenging for Japan given its heavy reliance on fossil fuels for energy since a 2011 earthquake and tsunami.
A Jan. 26 draft of the document included this sentence: "While the Japanese government pledged to end new unabated coal financing, ending exceptions from the pledge and phasing out of existing commitments to support coal projects abroad would further contribute to the global efforts on climate policy."
It was not immediately clear who directed deletion of the passage.
The review was the first of Japan's economy since the IMF board voted last year to increase climate coverage in its surveillance activities. As part of the normal country review process, the IMF is due to issue an Executive Board statement on Japan's review - known as an Article IV review - and a detailed staff report in coming weeks.
An IMF spokesperson declined to comment on the draft seen by Reuters, adding that the global lender - as a matter of policy - does not comment on its communications with members.
"Japan's government is not in a position to comment on the process" in which the IMF crafted the Article IV statement based on discussion with Tokyo, Chief Cabinet Secretary Hirokazu Matsuno, the government's top spokesperson, told a regular press conference on Thursday, answering a question on the matter.
The Japanese government, which has backed exports of coal power plants to Indonesia, Vietnam and Bangladesh, adopted stricter rules for such projects in 2018 and 2020. However, it has resisted divestments of such projects, and has continued to grant exceptions to a June 2021 policy pledge to stop backing coal projects that lack measures to reduce carbon emissions. read more
Kate Mackenzie, an independent climate finance consultant and researcher based in Australia, said the change in the Japan report was disappointing given that the fund had only belatedly committed to including climate risk in its Article IV reports.
"For the fund to be already pulling its punches on climate mitigation, especially in regard to to one its most influential member countries and a long time funder of coal-fired power, is very disappointing," she said.
Kevin Gallagher, who heads Boston University's Global Development Policy Center, said it was great to see IMF staff initially sided "with science and climate ambition," and the incident could still prove useful.
"Given the IMF's uneven track record, it is important for member states to have a say on the final outcomes of Article IV reports, but let's hope this has opened up a dialogue between Japan and the IMF on this very important issue," he said.
The change in the Japan statement follows controversy unleashed last year after changes made to an IMF report on Brazil's economy removed language related to climate change.
In that case, nearly 200 IMF staff signed a petition asking whether IMF chief Kristalina Georgieva or her office had asked or advised staff to remove the specific language before it was sent to the IMF board and after objections from Brazil's representative on the board.
The issue boiled over after Georgieva won the IMF executive board's backing despite allegations that she had applied "undue pressure" on World Bank staff to alter data to favor China in 2017 while serving as the bank's CEO. (Reuters)
February
Key Japanese ruling party official Kono hopes for March easing of border curbs
Written by Nur Yasmin
Japan's former vaccine czar and a key official of its ruling party, Taro Kono, hopes the nation's strict border curbs against coronavirus, which are the toughest among the Group of Seven wealthy nations, can be eased from March, he said on Thursday.
With the borders shut for nearly two years, the lives of students, researchers and workers have been disrupted, prompting business leaders to warn about the possible economic impact, particularly amid a tight labour market. read more
Though briefly eased last year, the measures, which have massive support from the public, were tightened again from late November as the Omicron variant surged, with Prime Minister Fumio Kishida aiming to retain them until the end of February.
"Let's hope that quarantine will be lifted on March 1," Kono, who was drafted in last year to run the vaccine programme but now heads public relations for Kishida's ruling Liberal Democratic Party, told Reuters.
"It may not be, it may not happen that way, but it is important to be ready," said Kono, who has taken to social media to criticise the policy, which lets in citizens and foreign permanent residents, but very few others.
Kono, a lawmaker often touted as a future prime minister, said he agreed with the principles behind the border policy when it began, but execution had been flawed.
"Why should we discriminate against foreigners? Omicron doesn't know if (a person) is Japanese or American or Iranian," he added.
"It doesn't make any sense - economically, scientifically or whatever," Kono said, adding that while it was OK to ask tourists to wait, those planning to spend longer periods, such as students or businessmen on postings, should be let in.
Kono criticised Japan's lagging booster programme in the face of rapidly-spreading Omicron, which pushed nationwide infections to more than 90,000 on Wednesday, saying that more control for local governments was key.
Japan has fully vaccinated almost 80% of its population, but the booster programme has covered just 4%, versus 27% in the United States, and more than half in South Korea and Singapore.
"This time, because I'm not there, the Health Ministry wants to control everything ...," he said. "That's a sure way to fail - and that's exactly what they're doing."
Although opinion polls have showed Kishida's support slipping, and disapproval edging up over his handling of the coronavirus, Kono saw little political risk to him ahead of this summer's crucial upper house elections.
"I think with this Omicron, by the end of March it will subside and hopefully we can kickstart the economy," he added.
"And the election is July, so this shouldn't pose much problem for us." (Reuters)
February
Biden plans 'several' stops on Asia trip, region to remain focus -U.S. official
Written by Nur Yasmin
Joe Biden plans several stops during a visit to Asia this spring, which will be his first to the region as president and include a summit with three key regional allies in Japan, a senior administration official told Reuters.
The official brushed off questions about whether the Ukraine crisis could distract the administration's attention from Asia, saying: "We continue prioritizing our Indo-Pacific focus and will have more to come."
The official, speaking on condition of anonymity on Wednesday, declined to give details of the other stops in the region, which Biden's administration has declared its priority as it seeks to push back against China's expanding power and influence.
U.S. officials have said Biden has accepted an invitation to visit Japan in late spring to attend the summit of the Quad, which groups Japan, the United States, Australia and India, but details were still being worked out.
A person familiar with the matter told Reuters on Tuesday the trip could be in May, with concerns over China and North Korea on top of the agenda, and that Washington was looking into having Biden visit South Korea at the same time.
Japan's Yomiuri newspaper on Tuesday cited multiple government sources as saying the Tokyo visit could be in the last half of May.
"The President will travel later this year to Tokyo for the Quad Summit, as part of our commitment to regularize our engagement through the Quad, which continues to operate at full speed," the senior U.S. official told Reuters in an email.
"The President will also make several other stops on that trip," added the official, who declined to elaborate.
In stressing the U.S. commitment to the region, the official pointed to U.S. plans to host a summit with leaders from the Association of Southeast Asian Nations, or ASEAN, and for Secretary of State Antony Blinken to visit Australia next week for a Quad foreign ministers' meeting.
The administration also plans to launch a new Pacific Islands initiative with allies and partners that would bring together regional countries "to coordinate our actions, drive resources, and raise our ambition in the region, including on climate, maritime, and transportation issues," the official said.
It would, at the same time, finalize negotiations on Compacts of Free Association: agreements with three Pacific Island countries - the Marshall Islands, the Federated States of Micronesia and Palau - that facilitate U.S. military access. They are due to expire in 2023 in the case of the former two states and in 2024 in the case of Palau.
U.S. Indo-Pacific coordinator Kurt Campbell warned last month the Pacific could be the part of the world most likely to see "strategic surprise" - comments apparently referring to possible Chinese ambitions to establish Pacific-island bases. read more
Campbell said the United States had not done enough to assist the region and that there was a very short amount of time, working with partners like Australia, New Zealand, Japan and fellow Pacific power France, "to step up our game across the board."
The senior administration official said an announcement of "concrete offerings" under an Indo-Pacific Economic Framework initiative Biden announced in October could also be expected "soon." The official said progress was also being made in an agreement dubbed AUKUS for the United States and Britain to work with Australia to provide it with nuclear-powered submarines.
Biden has visited the region multiple times during his more than three decades as a senator and as vice president in the Obama administration. (Reuters)