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July
OPEC+ could add 2 million barrels of oil to market later this year
Written by Nur Yasmin
OPEC+ is moving towards adding around 2 million barrels per day (bpd) of oil to the market between August and December as it eases back on its output curbs, an OPEC+ source told Reuters.
The source said monthly increases would amount to less than 0.5 million bpd.
The first source and another OPEC+ source said Saudi Arabia and Russia, top producers in the OPEC+ alliance, have a preliminary agreement on a deal raising oil output from August. (Reuters)
July
Euro 2020 crowds driving rise in COVID-19 infections, says WHO
Written by Nur Yasmin
Crowds at Euro 2020 football stadiums and in pubs and bars in host cities are driving the current rise in coronavirus infections in Europe, the World Health Organisation (WHO) said on Thursday.
A 10-week decline in new coronavirus infections across the region has come to an end and a new wave of infections is inevitable if football fans and others drop their guard, according to WHO.
Last week, the number of new cases rose by 10%, driven by mixing of crowds in Euro 2020 host cities, travel and easing of social restrictions, WHO said.
"We need to look much beyond just the stadiums themselves," WHO's senior emergency officer, Catherine Smallwood, told reporters.
"We need to look at how people get there, are they travelling in large crowded convoys of buses? And when they leave the stadiums, are they going into crowded bars and pubs to watch the matches?
"It is these small continuous events that are driving the spread of the virus," Smallwood said.
German Interior Minister Horst Seehofer called a decision by European soccer's governing body UEFA to allow big crowds at Euro 2020 "utterly irresponsible". read more
UEFA said in a statement to Reuters that mitigation measures at host venues "are fully aligned with the regulations set out by the competent local public health authorities".
The rise in new COVID-19 cases is happening as the more contagious Delta virus variant spreads rapidly across Europe.
Nearly 2,000 people who live in Scotland have attended a Euro 2020 event while infectious with COVID-19, with many attending their group stage match against England in London on June 18, Scottish authorities said on Wednesday. read more
The rise in infections has raised concern that a third wave could spread across Europe in the autumn if people don't get vaccinated.
"The concern of an autumn surge is still there, but what we see now is that it might come even earlier," Smallwood said. (Reuters)
July
U.S. ends military academy progamme for Cambodia amid strained ties
Written by Nur YasminThe United States has ended its programme with Cambodia to send students to top American military academies, a U.S. embassy official said on Thursday, marking the latest sign of strains in the relations between the two countries.
Washington has been concerned over China's growing military presence in Cambodia, with the Southeast Asian country becoming one of Beijing most important allies in the region.
The decision to end the programme had been made after Cambodia had ended some areas of military cooperation, U.S. Embassy spokesman Arend Zwartjes said.
"Following Cambodia's curtailment of cooperation in several areas of traditional bilateral military-military engagement, the country lost its eligibility for the U.S. military service academy program," Zwartjes told Voice of America (VoA).
Zwartjes said, however, Cambodian students currently enrolled in U.S. military academies would be permitted to complete their undergraduate programmes.
"The United States has encouraged the Government of Cambodia to assist its students with remaining tuition costs," Zwartjes said.
Some elite members of Cambodian society, including Hun Manet, the oldest son of Prime Minister Hun Sen, have in recent decades graduated from the prestigious U.S. Military Academy at West Point.
Hun Manet is now a deputy commander and joint chief of staff of the Royal Cambodian Armed Forces (RCAF).
Chhum Socheat, a spokesman at Cambodia's defence ministry, and government spokesman, Phay Siphan, did not immediately respond to requests for comment on the issue. (Reuters)
July
Malaysia to impose tighter coronavirus restrictions in capital
Written by Nur Yasmin
Malaysia on Thursday announced tighter restrictions on movement and businesses in the capital Kuala Lumpur and neighbouring Selangor state as new coronavirus cases show no sign of abating.
Security Minister Ismail Sabri Yaakob said Kuala Lumpur and several districts in Selangor will see stricter measures imposed from Saturday for a period of two weeks.
Only essential busineses, including factories producing food and daily necessities are allowed to operate, he said in a statement.
Malaysia last week extended a national lockdown to curb the spread of COVID-19. Prime Minister Muhyiddin Yassin said restrictions will not be eased until daily cases fall below 4,000. read more
The Southeast Asian nation recorded 6,988 new cases on Thursday, bringing the cumulative total to 758,967 infections and 5,254 deaths.
Science minister Khairy Jamaluddin also announced that the country would shorten the dosing interval for the AstraZeneca (AZN.L) vaccine to nine weeks from a 12-week gap previously. (Reuters)
July
Australia's NSW state says Delta outbreak grows despite lockdown
Written by Nur Yasmin
Australia's New South Wales (NSW) state on Thursday warned that significant numbers of new COVID-19 cases were being found in the community, raising fears of fresh clusters as it reported a rise in new infections for a third straight day.
With state capital Sydney in the middle of a two-week lockdown to contain an outbreak of the highly infectious Delta variant, authorities said half of Thursday's total of 24 new cases had spent time in the community when infectious.
"(This) is a cause of concern. That is what we will be looking at in the next few days and beyond as a measure of our success," NSW Premier Gladys Berejiklian told reporters.
Berejiklian said many people with flu-like symptoms were ignoring lockdown orders and "going about their business".
"We can't allow that to happen ... assume that you have the virus or that people you come into contact with have the virus and act accordingly," she said.
Australia is battling simultaneous flare-ups of infections in several states and nearly half of all Australians are under stay-at-home orders to prevent any major outbreak of the Delta strain.
Sydney, Perth, Brisbane and Darwin imposed lockdowns in the past few days, following months in which Australia had nearly eliminated the virus.
The remote outback town of Alice Springs, gateway to UNESCO World Heritage-listed Uluru, was also locked down on Wednesday after an infected traveller spent hours in the city's airport. read more
The total number of cases in the latest outbreak in NSW, the worst affected state, neared 200 since the first case was detected more than two weeks ago in a limousine driver who transported overseas airline crew.
Queensland state on Thursday detected two new local cases, as it tracks four different virus clusters - three of them the Delta variant. The Northern Territory detected one new case, South Australia and Western Australia recorded no cases.
Australia has fared much better than many other developed countries in containing the novel coronavirus through lockdowns, swift contact tracing and strict social distancing, with just over 30,550 cases and 910 deaths.
However, a sluggish vaccination drive has put the federal government on the back foot.
The government earlier this week decided to indemnify doctors who administered AstraZeneca's (AZN.L) vaccine shots to people under 60, in an effort to ramp up inoculation.
But several states have declined to administer AstraZeneca shots to under 60s due to the higher but still low risk of blood-clotting in younger people.
Lieutenant General John Frewen, the head of the country's vaccine taskforce, said more than 2,600 people under 40 years had received AstraZeneca shots since Monday.
"Right now, they would rather have the available vaccine than wait. I think all Australians have that right," Frewen told broadcaster Channel Nine. (reuters)
July
GLOBAL ECONOMY European factories racing as Asian manufacturers see momentum weaken
Written by Nur Yasmin
European factories continued to ramp up their post-lockdown recovery in June but Asian manufacturers saw momentum weaken amid rising input costs and the reintroduction of curbs to combat a new wave of coronavirus infections, surveys showed.
Euro zone manufacturing activity expanded at its fastest pace on record last month while Britain's factories extended their post-lockdown recovery and went on a hiring spree.
"How has that story turned -- a few months ago we were seeing the euro zone was lagging with vaccinations far behind. We were expecting a turnaround and we haven't seen much disappointment," said Bert Colijn at ING.
"That upside scenario has materialised. There is a very broad feeling amongst businesses in both services and industry that the coming months are going to be very strong as economies reopen."
Czech and Polish manufacturing hit a record pace of activity for the second month in a row as orders rose and economies opened up again.
But manufacturing activity grew at a slower pace in China and Japan as raw materials rose, while activity shrank in Vietnam, Malaysia and India, where governments imposed tougher restrictions to contain fresh coronavirus outbreaks.
A shortage of shipping containers and supply chains hugely affected by the global pandemic have made it a sellers' market for materials needed by factories. An index measuring input prices in the euro zone was at its highest since the survey began 24 years ago.
IHS Markit's final manufacturing Purchasing Managers' Index (PMI) nevertheless rose to a survey high of 63.4 in June from May's 63.1, above an initial 63.1 "flash" estimate. Anything above 50 indicates growth.
Britain's PMI dipped to 63.9 from May's all-time high but the pace of expansion in output, new orders and employment remained among the highest in the survey's near 30-year history after some COVID-19 restrictions were eased.
ASIA LAG
Data showed Asia was lagging behind western economies in recovering from the pandemic doldrums, reinforcing the view that many regional central banks were unlikely to withdraw pandemic-era stimulus soon. read more
"The June PMIs dropped back as virus outbreaks and supply chain issues created mounting headwinds for industry," said Alex Holmes, emerging Asia economist at Capital Economics.
"With neither issue likely to be resolved soon, the rapid growth in industry over the past few quarters looks unlikely to be repeated."
China's factory activity expanded at a softer pace in June with output growth slumping to the lowest level in 15 months, according to a private survey, in line with an official survey showing a dip in activity to a fourth-month low. read more
The Caixin/Markit Manufacturing PMI fell to 51.3 in June from May's 52, marking the 14th month of expansion but coming in below analyst expectations for only a slight slowdown to 51.8.
Higher raw materials costs and a shortage of semiconductor chips also hurt export powerhouses including Japan, which saw factory activity expand at the slowest pace in four months in June.
South Korea fared better, with factory activity growing for a ninth consecutive month in June, though record input and output price rises pointed to strains on manufacturers.
"Manufacturers were increasingly commenting that severe supply chain disruption was starting to impact activity," said Usamah Bhatti, an economist at IHS Markit.
Once seen as a driver of global growth, Asian's emerging economies are lagging advanced economies in recovering from the pandemic's pain as delays in vaccine rollouts hurt domestic demand and countries reliant on tourism.
Vietnam's PMI plunged to 44.1, marking the sharpest deterioration in business conditions while Malaysia's PMI fell to 39.9 as renewed COVID curbs weighed on external and domestic demand. The PMI for Taiwan fell to 57.6 from 62.0.
India's factory activity contracted for the first time in almost a year as restrictions to contain the deadly second wave of the coronavirus hit demand. (Reuters)
July
Malaysia appoints Ericsson as 5G development partner
Written by Nur Yasmin
Malaysia on Thursday said it has appointed Swedish telecommunications giant Ericsson (ERICb.ST) as its partner to develop its 5G network and ecosystem.
Under the deal, Ericsson will be responsible for end-to-end development of the network in Malaysia at a total cost of 11 billion ringgit ($2.65 billion), state owned Digital Nasional Berhad (DNB) - which is responsible for the project - said in a statement.
This includes the core, radio access and transport network, operation and business support systems and managed systems, besides supporting local vendor development and participation, DNB said.
"Ericsson has undertaken to arrange financing for the supply, delivery, and management of the entire 5G network," DNB said.
DNB said Malaysia aimed to launch 5G at its national and administrative capitals of Kuala Lumpur and Putrajaya by the end of the year, before eventually expanding nationwide by 2023.
China's Huawei (HWT.UL) had long been seen as the frontrunner for Malaysia's 5G contract, with the government having previously dismissed security concerns raised by the United States.
Huawei had already signed a deal with Maxis(MXSC.KL), Malaysia's second-largest mobile network by subscribers, to launch 5G services. (Reuters)
June
U.S. military days away from completing Afghan withdrawal - sources
Written by Nur Yasmin
The U.S. military appears just days away from completing its withdrawal from Afghanistan, well ahead of the Sept. 11 deadline set by President Joe Biden to end America's longest war, U.S. officials told Reuters on Tuesday, speaking on condition of anonymity.
The withdrawal of troops and equipment from Afghanistan would not include forces that will remain to protect diplomats at the U.S. embassy and potentially assist securing Kabul airport.
U.S. officials have told Reuters that embassy presence could be around 650 troops.
The U.S. military stopped publicly detailing the pace of its withdrawal after it was more than 50 percent complete earlier in June.
The disclosure of the brisk pace of the U.S. withdrawal comes as the Taliban insurgency ramps up its offensive throughout the country. The Pentagon now estimates the Taliban control 81 of the country's 419 district centers.
Peace talks in Qatar, meanwhile, have failed to make significant progress.
The Pentagon said earlier on Tuesday that the U.S. withdrawal would not necessarily signify the end of NATO's Resolute Support mission in Afghanistan, but referred further queries to NATO.
The withdraw of U.S.-led NATO forces has raised concerns that the country could erupt in full-scale civil war, potentially providing al Qaeda space in which to rebuild and plan new attacks on U.S. and other targets.
A United Nations report in January said there were as many as 500 al Qaeda fighters in Afghanistan and that the Taliban maintained a close relationship with the Islamist extremist group. The Taliban denies al Qaeda has a presence in Afghanistan.
U.S. Defense Secretary Lloyd Austin is expected on Wednesday to meet his Germany counterpart at the Pentagon. Germany, which had the second largest contingent of troops after the United States in Afghanistan, announced on Tuesday that it had concluded its withdrawal from Afghanistan.
It was unclear if the pace of the U.S. withdrawal would still allow first for a planned evacuation of thousands of vulnerable Afghan interpreters and their families, something that had been expected before the U.S. pullout. (Reuters)
June
Olympics Tokyo may extend coronavirus curbs into Games period -media
Written by Nur Yasmin
Japan is considering an extension of two weeks to a month for coronavirus prevention measures in Tokyo and other areas, Japanese media said on Wednesday, with less than a month left until the opening of the summer Olympics.
Japan's capital and other areas are under a 'quasi' state of emergency set to be lifted on July 12, but a recent uptick in infections has officials concerned and could affect the number of spectators allowed into Olympics venues.
As Tokyo's infections rose to 714, their highest since May 26, the Mainichi Shimbun daily said the government was considering the extension that would overlap with the Olympics, due to open on July 23 after a year's delay over the pandemic.
A government meeting later in the day will discuss how to tackle signs of an impending surge that have worried experts and ignited concern about the spread of more infectious variants.
"Any decisions regarding quasi-emergency measures will be taken based on policies we have in place," Chief Cabinet Secretary Katsunobu Kato told a news conference.
The 'quasi' state of emergency caps spectators at 5,000. Olympics organisers have said spectators will be allowed up to half of venue capacity or a maximum of 10,000, though foreign spectators have been banned.
Media said Tokyo governor Yuriko Koike would work from home for an indefinite period after her release early on Wednesday from hospital, where she had been recovering from fatigue.
Tokyo has decided to move off public roads the first half of the 15-day Olympic torch relay scheduled for the capital. read more
Officials have pledged a "safe and secure" Games but face persistent resistance from a substantial part of the public, its worries fanned over two Ugandan delegates who tested positive after arrival in Japan. read more
Public broadcaster NHK said the government was drawing up measures for all foreign athletes in regional training camps ahead of the Olympics to halt training and quarantine in their rooms if one of their group tests positive.
This measure will continue until all have had a negative virus test, NHK added, without identifying its sources.
Asked about stronger screening guidelines, Tokyo 2020 organisers said in an email those testing positive at the airport would be quarantined and authorities in host areas would decide how to categorise "close contacts".
"We are paying close attention to last week's case involving the Uganda team," they added, saying that all relevant information gathered about it would be weighed in running the Games.
Even in the "most optimistic scenario", Tokyo's daily new cases could reach 1,000 in July, and 2,000 in August, fuelled by greater travel activity during the Games, university researchers and the National Institute of Infectious Diseases project.
If infections accelerate during or after the Games, the capital's hospital bed usage could hit its limit in August, they added. (Reuters)
June
Hong Kong security law is 'a human rights emergency' - Amnesty
Written by Nur Yasmin
Hong Kong authorities have used a new national security law to target dissent and justify "censorship, harassment, arrests and prosecutions that violate human rights", Amnesty International said on Wednesday, a year after the law was implemented.
Beijing imposed a sweeping national security law in June last year that sets out punishment for anything it deems as subversion, secession, colluding with foreign forces and terrorism with up to life in prison, setting the city on a more authoritarian path.
Authorities have said the law would affect an "extremely small minority" of people and that it had restored stability after months of often-violent protests in 2019. They have said rights and freedoms in the former British colony remain protected but they are not absolute.
Most high-profile democratic politicians and activists have been arrested under the new law or for protest-related charges, or are in self-exile.
"In one year, the National Security Law has put Hong Kong on a rapid path to becoming a police state and created a human rights emergency for the people living there," said Amnesty International's Asia-Pacific Regional Director Yamini Mishra.
"Ultimately, this sweeping and repressive legislation threatens to make the city a human rights wasteland increasingly resembling mainland China."
China foreign ministry spokesman Wang Wenbin said at a regular news conference that Amnesty's statements were "purely malicious slander."
Authorities have said all arrests have been lawful and no one was above the law, regardless of their occupation.
In its 47-page report, the international human rights group cited analysis of court judgements, court hearing notes and interviews with activists, concluding the legislation has been used "to carry out a wide range of human rights violations".
Hong Kong returned to Chinese rule in 1997 with the promise of a high degree of autonomy from Beijing and that wide-ranging rights and freedoms would be protected for at least 50 years.
Mishra said the law "has infected every part of Hong Kong society and fomented a climate of fear that forces residents to think twice about what they say, what they tweet and how they live their lives".
More than 100 people were arrested and more than 60 charged in the first year under the security law, according to a tally by Reuters.
"Hong Kong's NSL has been used as a false pretext to curb dissent," the rights group said, referring to the security law. (Reuters)