‘Explosion’ dashes last hopes for missing Argentine sub with 44 aboard

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332425

  • A relative and a comrade of one of the 44 crew members of Argentine missing submarine, embrace each other in grief at Argentina’s Navy base in Mar del Plata, on the Atlantic coast south of Buenos Aires, on November 23.//AFP
  • A woman looks at supportive messages for the 44 crew members of Argentine missing submarine hanging outside Argentina’s Navy base in Mar del Plata, on the Atlantic coast south of Buenos Aires, on November 23.//AFP

‘Explosion’ dashes last hopes for missing Argentine sub with 44 aboard

Breaking News November 24, 2017 15:08

Mar del Plata, Argentina – Argentina’s navy confirmed Thursday that an unusual noise heard in the Atlantic  near the last known position of a missing submarine appeared to be an explosion, dashing the last hopes of finding the vessel’s 44 crew members alive.

Relatives of the missing sailors reacted with grief and anger to the news after holding out hope since the sub was reported overdue at its Mar del Plata base on November 17, two days after the explosion.

“An anomalous, singular, short, violent and non-nuclear event consistent with an explosion,” occurred shortly after the submarine’s last communication, navy spokesman Captain Enrique Balbi told a news conference in Buenos Aires.

After days of false hopes, some of the relatives said the navy had withheld information about the sub and lied to them over the past week.

“I feel cheated,” said Itati Leguizamon, whose husband German Suarez was a sonar operator on the ARA San Juan.

“They did not tell us they died. But they tell us they are three thousand meters (9,800 feet) deep,” added Leguizamon as other family members shouted angrily around her.

“They lied to us,” said Leguizamon, a lawyer.

A sobbing Jessica Gopar, whose husband was an electrician aboard the San Juan, said “they just told us that the submarine exploded.” She spoke as she came out from the sub’s base.

“He was the love of my life, engaged seven years before we got married,” Gopar said of her husband, Fernando Santilli. “And how can I tell my son that he no longer has a father?”

Underwater sounds detected in the first days of the search by two Argentine search ships were determined to originate from a sea creature, not the vessel. Satellite signals were also determined to be false alarms.

The San Juan, a 34-year-old German-built diesel-electric submarine, had reported a battery problem on November 15 and said it was diverting to Mar del Plata, but did not send a distress signal, according to the navy.

Balbi admitted on Wednesday that the situation for the sub and its crew appeared to be worsening.

However, he refused to speculate at that point on the origin of what he initially described as a “hydro-acoustic anomaly” detected in the ocean almost three hours after the sub’s communication and 30 miles (50 kilometers) north of its last known position.

Balbi explained that information about the unusual noise only became available Wednesday after being relayed by the United States and “after all the information from all agencies reporting such hydro-acoustic events was reviewed.”

Explaining the lack of debris on the surface, Balbi said “nothing will end up floating to the surface” because a submarine “implodes”.

Gustavo Mauvecin, director of the Center for Hyperbaric Medicine at Mar del Plata, said hydrogen “is always an issue with submarines with electric engines”.

The San Juan “has 500 tons of lead-acid batteries, which release hydrogen if there is an overcharge in the battery. Hydrogen in contact with oxygen is explosive”.

An explosion ‘so violent’

“In my opinion, after an explosion like that, it’s difficult for there to be survivors,” a former submarine commander told AFP.

The newspaper La Nacion said one hypothesis is that there was a short circuit in the batteries. It said this would explain the sub’s failure to communicate and the fact that it did not have time to send off a distress signal.

The commander said a problem with batteries, as the sub had reported, could in fact cause a blast.

“A severe problem with batteries might generate hydrogen. Hydrogen above a certain percentage is explosive,” said the commander who requested anonymity.

Horacio Tobias, former chief of diving for the San Juan, said it “was so violent that they would not have had time to realize what happened”.

The San Juan would have had enough oxygen for its crew to survive underwater in the South Atlantic for seven days since its last contact, according to officials. That time had elapsed by 0730 GMT Wednesday.

Argentina is leading an air-and-sea search to try to still find the sub. It is getting help from several countries now including Brazil, Britain, Chile, Colombia, France, Germany, Peru, Russia, the United States and Uruguay.

Russia was the latest navy to volunteer help, sending an oceanographic research ship as the operation shifted from rescue to recovery.

The Russian defense ministry said the Yantar was steaming to the area from the western coast of Africa on the orders of President Vladimir Putin.

The weeklong search has focused on the sub’s last known position, around 200 miles off the Argentine coast, but has been hampered by bad weather.

Putin offered “words of support over the situation with the San Juan submarine” in a phone call to Argentine President Mauricio Macri late Wednesday, the Kremlin said.

Russia said the Yantar “is equipped with two deep water submersibles which allow exploratory searches at a depth of up to 6,000 meters.”

US President Donald Trump offered his support, tweeting: “May God be with them and the people of Argentina!”//AFP

Berlin police seeking more missing John Lennon items

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332424

  • German legal officers give a press conference on November 21 in Berlin on stolen items from John Lennon’s estate.//AFP
  • A cigarette case from the estate of John Lennon//AFP
  • A music book from the estate of John Lennon//AFP
  • Glasses from the estate of John Lennon//AFP
  • Diaries from the estate of John Lennon.//AFP

Berlin police seeking more missing John Lennon items

ASEAN+ November 24, 2017 14:57

Berlin – German police are trying to recover numerous items stolen from the estate of the late Beatle John Lennon, prosecutors said Thursday, after the arrest of a suspect accused of handling the objects.

A 58-year-old man identified as Erhan G. was arrested in Berlin on Monday on suspicion of dealing in the stolen goods. Prosecutors said he has “given a broad confession” in the case and provided information about stolen personal items from Lennon that remain undiscovered.

Police had on Tuesday announced the recovery of around 100 items, including diaries, a cigarette case and two pairs of Lennon’s trademark round spectacles.

One of the three diaries from the haul contains an entry penned by Lennon on December 8, 1980 — hours before he was shot dead by a disturbed fan outside his Manhattan apartment building. But numerous items are still missing.

“Among those we are looking for are a sculpture, walking sticks as well as several personal recordings and other writings,” said prosecutors in a statement.

The objects were allegedly stolen by the driver of Lennon’s widow Yoko Ono from her New York home in 2006. They were discovered this year at a bankrupt Berlin auction house.

The driver, Koral Karsan, lives in Turkey and is out of reach of German law enforcement.

The former chauffeur worked for Ono from 1995 to 2006. He already spent 60 days in jail in 2007 in the United States for trying to blackmail Ono.

Along with co-Beatle Paul McCartney, Lennon wrote some of the Fab Four’s biggest hits including “Help” and “With a Little Help from My Friends”, before the band split in 1970. His possessions have since become collectors’ items.

A leather jacket supposedly worn by Lennon sold for 11,700 euros; $13,800 at an auction in England in February.//AFP

Buddhist nationalism burns as Pope visits Myanmar

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332415

  • Tourists visit Saint Mary’s Cathedral, where Pope Francis is scheduled to meet with Bishops of Myanmar, in Yangon, Myanmar on November 23.//EPA-EFE
  • File photo : Pope Francis

Buddhist nationalism burns as Pope visits Myanmar

ASEAN+ November 24, 2017 13:39

2,891 Viewed

Yangon – A fiery brand of Buddhist nationalism is burning brighter than ever as Myanmar braces for its first ever papal visit, posing a  challenge to the message of religious tolerance Pope Francis is expected to preach next week.

A wing of extremist monks has been stirring Islamaphobia in Myanmar for years, earning a reputation as incubators of “Buddhist terror”.

But their cause has received new support since August, when the army launched a brutal crackdown on the Muslim Rohingya, expelling more than half a million from the country.

Global outrage over the violence — which the UN and the US have called ethnic cleansing — has triggered an ultra-nationalistic reflex inside Myanmar, pushing the public towards firebrand monks who have long cast the Rohingya as ill-intentioned outsiders.

“Our ideas have now won the vast majority of the population,” said Ottama, a prominent monk in Buddhist nationalist circles.

Speaking to AFP in a temple in Yangon, the saffron-robed monk repeated a well-worn falsehood that Muslims are poised to “swallow the nation” in a demographic assault on Myanmar’s Buddhist majority.

“Fifty years ago, only 12 percent people in Myanmar were Muslim. Now their population is about 38 percent,” he said.

Census figures show Muslims make up less than five percent of the overwhelmingly Buddhist nation.

That fraction has been chiselled down further by the latest violence in Rakhine state, which has pushed over half of the 1.1-million Rohingya into Bangladesh.

The pope, who will head to Bangladesh after Myanmar, has thrown himself into the centre of the crisis rippling across the two nations’ border.

In Yangon he will press for peace in masses expected to draw hundreds of thousands from the country’s Catholic community.

But he will also meet with Myanmar’s civilian leader Aung San Suu Kyi and army chief Min Aung Hlaing — a highly symbolic sit-down between a peace icon and a general whose troops are accused murder, rape and arson.

– All in the name –

Francis is already in the crosshairs of Buddhist hardliners for expressing sympathy for the Rohingya, whom he has referred to as “brothers”.

His public comments in Myanmar will be closely scoured for any mention of the group by name — the term is rejected by the army, government and many in the Buddhist public, who insist the Muslims are “Bengalis”.

“I do not understand why the Pope is coming in the middle of a conflict, many people say he’s coming for the Bengalis,” Nyo Nyo Aung, a follower of an ultra-nationalist monk, told AFP.

Myanmar’s Catholic leaders have advised the Pope not to use the ‘R-word’, a path Suu Kyi has also taken to avoid triggering backlash from Buddhist nationalists, a powerful political bloc.

Myanmar’s Buddhist clergy has taken some steps to rein in radical members, including banning notoriously Islamaphobic monk Wirathu from giving sermons for one year, though with little enforcement.

A few days before the pope’s visit, another prominent ultra-nationalist abbot, Parmaukkha, was detained over an anti-Rohingya protest he organised in 2016.

But those moves have done little to draw the toxicity from anti-Rohingya hatred pinballing across social media in the form of rants, memes and grotesque cartoons.

This hyper-nationalism stretches back to Myanmar’s British colonial past, when the mass migration of people from South Asia caused economic and social tensions, according to Burmese historian Thant Myint-U.

“It created a sour, defensive nationalism, and remains at the heart of Myanmar’s political DNA,” he said.

Analysts warn the animus threatens to unpick fragile democratic gains in the former junta-run country and have chastised Suu Kyi for failing to use her moral authority to defend the Rohingya.

The Nobel laureate has avoided dangerous political territory by not condemning the army crackdown that sparked the refugee crisis. The Pope’s visit will test that intransigence.//AFP

Rohingya repatriation to begin in 2 months, Bangladesh-Myanmar inks deal

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332399

Bangladesh Foreign Minister AH Mahmood Ali meets with Myanmar's State Counsellor Aung San Suu Kyi at Suu Kyi's office on November 23, 2017.
Bangladesh Foreign Minister AH Mahmood Ali meets with Myanmar’s State Counsellor Aung San Suu Kyi at Suu Kyi’s office on November 23, 2017.

Rohingya repatriation to begin in 2 months, Bangladesh-Myanmar inks deal

ASEAN+ November 24, 2017 08:34

By The Daily Star
Asia News Network
Nay Pyi Taw

Bangladesh and Myanmar finally signed an ‘instrument’ on Rohingya repatriation on Thursday with no ending deadline amid high hopes that the forcibly displaced Rohingyas will start returning to their homeland within the next two months.

 

The two neighbouring nations struck the instrument in the afternoon following a meeting between Foreign Minister AH Mahmood Ali and Myanmar’s State Counsellor Aung San Suu Kyi in the morning at Suu Kyi’s office.

Foreign Minister AH Mahmood Ali and Myanmar’s Minister for State Counsellor’s office Kyauw Tint Swe signed the instrument.

They also exchanged ratification of the boundary agreement 1998.

Bangladesh’s Minister Mahmood Ali made the disclosure of signing the ‘Arrangement on Return of Displaced Persons from Rakhine State’ after they reached a much-sought consensus on the Rohingya repatriation.

Talking to UNB, Foreign Minister AH Mahmood Ali said the repatriation process will start soon. “This is the first step. We’ll start our second step work now.”

Asked about deadline, he said there is timeframe but he will tell details in Dhaka and it does not make it clear whether Myanmar agreed on specific timeframe for taking back all the Rohingyas.

When approached, a diplomat told UNB that there no such timeframe over completion of Rohingyas repatriation. “Our best efforts were there.”

The bilateral instrument was being negotiated by officials of the two countries for the last couple of months.

On Wednesday morning, the senior officials of both countries negotiated the draft at their level. Later in the afternoon, Foreign Minister Mahmood Ali and the Union Minister U Kyaw Tint Swe resolved the remaining issues and finalised the draft after discussion.

The ‘arrangement’ stipulates that the return shall commence within two months, said the Bangladesh Foreign Ministry in a statement.

A Joint Working Group will be established within three weeks of signing the ‘Arrangement’. A specific bilateral instrument (physical arrangement) for repatriation will be concluded in a speedy manner.

During the visit, Mahmood Ali and U Kyaw Tint Swe also exchanged the long-awaited “Instrument of Ratification” of the agreement on demarcation of the land section of the boundary north of the Naaf River concluded in 1998.

The two countries also signed “Supplementary Protocol on the demarcation of a fixed boundary in the Naaf River” earlier agreed in 2007.

Minister Ali also handed over three ambulances for Rakhine State as gift from the government of Bangladesh to the Union Minister of Social Welfare, Relief Resettlement U Win Myat Aye at latter’s office in Nay Pyi Taw on Thursday morning.

The Foreign Minister will brief the media on Saturday.

He said since their houses are destroyed and burned in Rakhine State it might take time to create conditions for their living.

The government did not share what are the terms and conditions mentioned in the signed arrangement creating confusion on how the repatriation will be executed.

Earlier, Minister Ali’s meeting with Suu Kyi began at 10:00 am (Myanmar time) and it lasted for 45 minutes.

Over 622,000 Rohingyas have crossed the border and taken shelter in Cox’s Bazar district since August 25 amid persecution by Myanmar military in their Rakhine State.

Referring to the influx of Rohingyas to Bangladesh, Prime Minister Sheikh Hasina told a programme on the outskirts of Dhaka on Thursday that these Myanmar nationals are a burden on Bangladesh and urged Myanmar to start their repatriation soon.

Bangladesh in its senior officials meeting here on Wednesday raised the issue of keeping a provision for a timeframe over completion of the Rohingya repatriation, a senior official told UNB.

Dhaka also sought involvement of the international community, including the UN agencies in verification process.

Myanmar did not meet Bangladesh’s full expectation on the repatriation timeframe as it only agrees on starting time but not the ending point, a senior diplomat told UNB.

Another diplomat said Myanmar wants to start the repatriation within the next two months from now.

He said Bangladesh wants to end the Rohingya repatriation by one year though Myanmar keeps it as an open-end one without giving any specific timeframe for completion.

On involvement of UN agencies in repatriation process, Myanmar shows a bit of soft position but nothing will be legally-binding one, an official told UNB.

Bangladesh and Myanmar, however, agreed on formation of joint working group at foreign-secretary level to start the repatriation process of all Rohingyas.

Foreign Secretary M Shahidul Haque, Bangladesh Ambassador to Yangon M Sufiur Rahman and representatives from Home Ministry and Prime Minister’s Office also attended the negotiations on Wednesday.

Earlier on Wednesday, the Foreign Minister and the Myanmar’s Minister for State Counsellor’s office had a marathon meeting when they discussed various issues of bilateral interest, including the Rohingya issue.

Soon after the one-to-one lengthy meeting, the Foreign Minister attended the ministerial meeting on ‘Arrangement on Return of Displaced Persons from Rakhine State’.

The senior officials’ meeting was co-chaired by Permanent Secretary of the Ministry of Foreign Affairs of Myanmar U Myint Thu and Bangladesh Foreign Secretary Md Shahidul Haque.

US Secretary of State Rex W Tillerson has said the United States will pursue accountability through US law, including possible targeted sanctions on Myanmar if the situation does not improve in Rakhine State.

“After a careful and thorough analysis of available facts, it is clear that the situation in northern Rakhine state constitutes ethnic cleansing against the Rohingya,” said the US Secretary of State on Wednesday.

The international community is also watching the talks and its subsequent outcome as they want to see the safe and dignified return of the Rohingyas as quickly as possible.

Amid mounting international pressure, Myanmar’s de facto leader Aung San Suu Kyi on Tuesday said they have planned to sign a MoU with Bangladesh which will enable them to start the repatriation process of all the Rohingyas from Bangladesh to Myanmar.

European Union High Representative Federica Mogherini, earlier, expressed her hope that Bangladesh and Myanmar will reach a decision to sign a MoU and an agreement on safe repatriation of Rohingyas from Bangladesh.

She said the EU is supporting this process and will stand ready to accompany this process in the coming week.

Earlier, the foreign ministers of Asian and European countries, in general, agreed in many areas on Rohingya issue and asked for immediate cessation of hostilities, halting of outflow, early return of externally displaced Rohingyas from Bangladesh.

They also asked for implementation of recommendations of the Kofi Annan Commission for durable solutions.

Malaysia seeks to rein in digital currencies

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332361

x

Malaysia seeks to rein in digital currencies

ASEAN+ November 24, 2017 01:00

By THE STAR
ASIA NEWS NETWORK
PETALING JAYA

IN THE FIRST notable move to regulate the world of cryptocurrencies in Malaysia, the country’s central bank says it will deem all parties acting as exchanges as “reporting institutions”, requiring them to provide detailed information on buyers and sellers of such currencies.

Bank Negara governor Muhammad Ibrahim also noted the possibility of digital currencies becoming the “new norm” and that the central bank “cannot be oblivious to these developments”.

The measure is to come into effect next year.

Going by some websites, there are up to 11 cryptocurrency exchanges in Malaysia, the most notable of which are Luno and CoinHako.

Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital currency or traditional currencies like the US dollar or the ringgit.

While there is no conclusive proof that money laundering and terrorism financing goes through the trading of cryptocurrencies, some reports indicate that these rogue parties are showing an increasing interest in cryptocurrencies.

“Beginning in 2018, Bank Negara will designate persons converting cryptocurrencies into fiat-money currencies as reporting institutions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) 2001,” Muhammad said.

“This is to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system,” he noted at the Third Counter-Terrorism Financing Summit 2017 in Kuala Lumpur on Wednesday.

Malaysia’s move is in step with what Australia, China and Japan had recently done, although countries like Japan are issuing licences for exchanges as well.

Conduit for money

Under Amla, all reporting institutions will be required to undertake preventive measures to prevent their institutions from being used as a conduit for money laundering and terrorism financing activities.

These preventive measures would include conducting risk assessment; application of customer due diligence; submission of suspicious transaction report (STR) and cash threshold report; and maintenance and retention of records of transactions.

According to Muhammad, the role of the financial sector as a bulwark against terrorists financing has become even more critical, given the rise of financial technology (fintech), which posted global investments totalling US$25 billion last year, compared with US$9 billion in 2010.

“If this trend is anything to go by, then the financial industry will be hard-pressed to mitigate, identify and prevent cases of abuse in the system,” he said.

“We need to prepare ourselves, as according to many pundits, digital currencies will become the new norm.

“The advent of digital currencies as some have forecast, will mark the beginning of a new era in the financial sector. As authorities, we cannot be oblivious to these developments.”Industry players in fintech welcome the move as a means to ensure that the technological developments in cryptocurrencies and its underlying blockchain technology are not hampered.

Petronas sees stronger results after Q3 surge

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332360

x

Petronas sees stronger results after Q3 surge

ASEAN+ November 24, 2017 01:00

By THE STAR
ASIA NEWS NETWORK
KUALA LUMPUR

MALAYSIA’S Petroliam Nasional Bhd (Petronas) posted a strong set of results for the third quarter ended September 30, 2017 and forecasts the group’s overall year-end performance to be better than last year as oil price recovers and due to efficiency improvement.

The national oil company said in a statement issued on yesterday profit after tax rose 64 per cent to 10 billion ringgit from 6.10 billion, underpinned by improved performances of its upstream and downstream businesses.

“In light of modest recovery in oil price and the continued drive for efficiency improvement, Petronas expects the group’s overall year-end performance to be better than last year. This would be supported by recovering commodity prices, stronger margins as well as its on-going group-wide transformation initiatives,” it said.

Petronas’ revenue increased by 14 per cent to 53.7 billion ringgit due to higher average realised prices for major products and impact of foreign exchange rate.

Commenting on the higher profits, Petronas said it benefited from higher revenue in addition to lower net impairment on assets and well costs. This was partially offset by higher tax expenses, product costs and amortisation of oil and gas properties.

Singapore growth view revised up

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332359

x

Singapore growth view revised up

ASEAN+ November 24, 2017 01:00

By THE STRAITS TIMES
ASIA NEWS NETWORK
SINGAPORE

SINGAPORE’S economy performed much better than expected this year due mostly to a strong showing in electronics, prompting the Ministry of Trade and Industry (MTI) to upgrade its 2017 gross domestic product (GDP) forecast yesterday.

SINGAPORE’S economy performed much better than expected this year due mostly to a strong showing in electronics, prompting the Ministry of Trade and Industry (MTI) to upgrade its 2017 gross domestic product (GDP) forecast yesterday.

Full-year GDP growth is now expected to be 3 per cent to 3.5 per cent. This is up from an earlier estimate of 2 per cent to 3 per cent, with the final figure expected to come in at the upper end of the range previously.

The Monetary Authority of Singapore (MAS) said that its forecasts for core and headline inflation remain unchanged.

Therefore, its current neutral monetary policy stance announced in October remains the same, said MAS deputy managing director Jacqueline Loh.

The upgraded forecast dovetails with Prime Minister Lee Hsien Loong’s earlier remarks on Sunday that the Singapore economy could expand by more than 3 per cent in 2017.

Some private-sector economists have also revised their estimates upwards, with three consecutive quarters of growth now in the bag.

In the data released yesterday, the Singapore economy grew by 5.2 per cent year on year in the third quarter, led once again by the manufacturing sector.

This is faster than the preceding growth of 2.9 per cent in the previous quarter and the best showing since the economy grew 5.4 per cent in the fourth quarter of 2013.

On a quarter-on-quarter seasonally adjusted basis, the economy expanded by a whopping 8.8 per cent, accelerating from 2.2 per cent in Q2.

The headline figure of 5.2 per cent was revised upwards from October’s advance GDP estimates of 4.6 per cent.

This beat economist expectations of a 5 per cent expansion, according to a poll by Bloomberg.

As for 2018, the Singapore economy is forecast to grow by 1.5 per cent to 3.5 per cent. The MTI said that the pace of growth is expected to moderate, compared with 2017, but “remain firm”.

The manufacturing sector is expected to continue to expand and provide support to overall GDP growth.

However, growth in several of Singapore’s key external demand markets such as China and the eurozone is projected to ease.

On the external front, global growth is expected to pick up marginally on the back of stronger economic growth in the US and some emerging markets and developing economies.

Externally oriented sectors are expected to benefit from this global economic recovery.

Bananas top farm export list

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332357

x

Bananas top farm export list

ASEAN+ November 24, 2017 01:00

By VIENTIANE TIMES
ASIA NEWS NETWORK

BANANAS are expected to be Laos’ highest revenue earner among agricultural exports this year, retaining the top spot achieved last year despite a decrease in exports by value.

This year, Laos expects to earn about US$184 million from banana exports, down US$13.8 million compared to last year, the Ministry of Industry and Commerce reported.

In the first nine months of this year, Laos earned US$158.5 million from banana exports, while last year overseas banana sales stood at US$197.8 million for the same period. The bulk of the crop was sold to China and some to Thailand

Other major agricultural export earners are expected to include cassava, with sales reaching US$158 million. Raw coffee exports are forecast at US$113 million, rubber at US$77.5 million, and maize at US$60.2 million.

In 2015, rubber was the top earner but this year it is forecast to drop to fourth place due to falling prices, while some farmers have switched to other commercial crops.

The export value of bananas is expected to slide further next year after the government banned additional plantations.

Commercial production of bananas is a good strategy and has the potential to generate much-needed income in rural areas, but it can have negative impacts on farmers’ health and soil quality, according to 2016 studies by the National Agriculture and Forestry Research Institute (NAFRI).

Overall, the commercialisation policy on banana production has benefited rural people.

The most notable outcome of this policy has been the influx of Chinese investors to assist Lao banana growers in the northern provinces of Bokeo, Luang Namtha, and Oudomxay.

Over the past four years, the value of banana exports increased tenfold from US$3.8 million in 2011-12 to over US$46 million in 2014-15.

Bank loans for securities sector in Vietnam fall to $444.4m

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332355

x

Bank loans for securities sector in Vietnam fall to $444.4m

ASEAN+ November 24, 2017 01:00

By VIET NAM NEWS
ASIA NEWS NETWORK
HANOI

TOTAL LENDING of the banking sector for securities trading has reached 10 trillion dong (US$444.4 million), according to State Bank of Vietnam (SBV) governor Le Minh Hung.

That was down 40 per cent compared to the same period last year, Hung told a National Assembly session recently, adding that bank’s lending for the securities sector was being tightly controlled to make sure bad debts stayed low.

Under existing regulations, a financial institution can only borrow from commercial banks to invest in the securities sector if the firm’s bad debt to charter capital ratio is below 3 per cent, while the total lending for securities firms that a commercial bank can make is maximum 5 per cent of the bank’s charter capital.

As the total charter capital of the entire banking system as of the end of August was reported by the SBV at 505 trillion dongs, the maximum amount of money that commercial banks can lend for the securities sector was estimated at 25 trillion dong.

As the total lending of banks to brokerage firms was reported at 10 trillion dong, there are still opportunities for financial firms to borrow another 15 trillion dong to carry out their business activities in the securities sector, Hung said.

Brokerage firms reduce dependence on bank loans by bond issuance

Total margin lending of securities firms to their clients for securities trading is estimated at 32 trillion dong by the top 20 securities companies as of September 2017.

The figure was an increase of 35 per cent from the beginning of the year as investors had raised their demand for margin lending. This is also the source of income for securities firms as the annual interest rates that those firms offered to customers ranged from 13 per cent to 14 per cent.

To increase margin lending, brokerage firms have planned to issue corporate bonds to increase their capital in addition to loans from commercial banks as corporate bonds often have longer terms than bank loans and offer financial stability.

Among those companies, Viet Capital Securities Co (VCSC) on October 23 announced it would issue 500 billion dong worth of corporate bonds to raise capital and restructure its debts.

The company bonds have a maturity of 24 months and the annual yield rate is calculated by the average middle-term saving rates of the Bank for Investment and Development of Vietnam (BIDV) and Vietinbank plus 4.5 per cent.

Since the beginning of the year, VSCS had raised 1 trillion dong from three bond issuances.

As of the end of September, |the company had lent total 3.2 trillion dong to clients for securities trading.

AEC Feed

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/asean-plus/30332349

x

AEC Feed

ASEAN+ November 24, 2017 01:00

By Asia News Network

Second Indonesia tax amnesty ruled out

Indonesia’s directorate general of taxation has stressed there will be no second tax amnesty as the tax office pursues tax cheats

Directorate spokesman Hestu Yoga Saksama said officials were pursuing those who have not declared their wealth either through asset statement letters or annual tax reports.

“The president has agreed that the tax amnesty was a one-time amnesty. The tax office is intensively enforcing the law.

This is fair for those who participated in the tax amnesty,” said Hestu in Manado on Wednesday as reported by kompas.com.

He said there were many taxpayers who had not declared their wealth, both from those who took part in the nine-month tax amnesty that ended in March and those who have not taken part.

Therefore, he said, Finance Minister Regulation No. 165/2017, which was issued recently, gave an opportunity to taxpayers to immediately declare their hidden wealth without being required to pay fines. – The Jakarta Post

Philippine budget deficit widens

As spending on public goods and services jumped by more than a fourth in October, the Philippine government widened its budget deficit that month by 830 per cent to 21.8 billion pesos (Bt14.06 billion) from 2.3 billion pesos a year ago.

However, the latest data showed that the national government continued to underspend during the first 10 months of the year as expenditures of 2.24 trillion pesos were 7-per cent lower than the programmed disbursements of 2.4 trillion pesos.

The end-October expenditures nonetheless exceeded by a tenth the 2.04 trillion pesos posted in the same 10-month period last year.

In October alone, the amount spent by the national government climbed 28 per cent to 226.9 billion peso from 177 billion peso in the same month last year.

Disbursements that month, however, were lower than the peso 265.6-billion programme .

Budget Secretary Benjamin Diokno told reporters on Wednesday that the jump in disbursements last month was the fastest so far this year, reversing the year-on-year declines of 6.9 per cent a year ago and 1.8 per cent a month ago. –Philippine Daily Inquirer

Greater Jakarta light rail cost jumps

The cost of the Greater Jakarta light rail transit (LRT) project, also known as LRT Jabodetabek, will swell to 31 trillion rupiah (US$2.29 billion) from an initial cost of 26.7 trillion rupiah.

Transport Minister Budi Karya Sumadi said the increase was caused by changes in signaling technology.

“It is not swelling. The cost depends on the technology that we will use,” Budi said in Jakarta on Tuesday as reported by tempo.co.

He said the government had two choices of signalling technology, namely fixed block or moving block technology. He said the choice to use moving block technology was the reason for the increase in costs.

He said the use of moving block signalling would help increase capacity on the LRT. “With fixed block technology, the LRT’s capacity will only be 300,000 passengers per day, while with moving block technology, the LRT could transport 430,000 passengers per day,” he added.

There are two LRT lines passing through Jakarta, namely the Greater Jakarta (LRT Jabodetabek) and the Jakarta LRT.

The Greater Jakarta LRT will depart from Bogor, Bekasi, Cawang, Kuningan and terminate at Sudirman Station, while the Jakarta LRT will depart from Kelapa Gading, Rawamangun, Manggarai and also terminate at Sudirman Station. |– The Star, Kuala Lumpur