Tag Archives: 2561(2018)

Fixed-income funds, corporate bonds among concerns flagged by BOT

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Fixed-income funds, corporate bonds among concerns flagged by BOT

Economy December 27, 2018 01:00

By WICHIT CHAITRONG
THE NATION

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THE BANK of Thailand (BOT) yesterday warned investors about the risks posed by fixed-income funds invested abroad, while also flagging concerns over deposits placed with savings cooperatives and bonds issued by Thai conglomerates.

In a broad assessment of the potential hazards to the country’s financial stability, the central bank reiterated its concerns over the prospect of a glut in housing, with the BOT’s worries sharpened by the highly volatile global and local financial markets.

The risk assessment is an outcome of the joint meeting between the Monetary Policy Committee (MPC) and the Financial Institutions Policy Committee (FIPC) on December 21, according to a central bank statement issued yesterday. The BOT said that Thailand’s financial stability remained sound. Economic growth continued to gain traction, while banks and insurance companies have maintained high capital buffers. Thailand’s external stability remained solid given its high level of international reserves, continued current account surplus, and low external debt.

These factors helped cushion the spillover from recent bouts of volatility in global financial markets. However, there remained some pockets of risks that could have notable implications for financial stability, two of which were highlighted by the committees.

First, risks in the real estate sector were underlined. Despite some signs of improvement in the housing loan market, there continued to be a need to monitor banks’ lending standards, households’ debt serviceability, a possible slowdown in foreign demand notably from China, and a surge in supply due to new mixed-use projects, said the central bank statement.

Risks arising from intense competition in the housing loan market, which had led to lenient lending practices, were addressed to some degree by the new macroprudential measure on housing loans, said the BOT.

Foreign demand, notably from China, had been gaining significance in the condominium market over the past few years. This exposed the Thai real estate market to a possible drag from foreign demand due to China’s economic slowdown. For the supply side, office and retail space could pick up sharply due to new mixed-use projects especially from 2020 onwards, the committees warned.

Second, the search-for-yield behaviour, which could lead to underpricing of risks, continued to persist – especially in savings cooperatives and large conglomerates. Investment abroad by fixed income funds remained highly concentrated in a small number of destination countries and institutions. Although these countries and institutions possessed high credit ratings and foreign exchange risk was properly hedged, such concentration could make these fixed-income funds sensitive to country and counterparty risks, warned the BOT.

The search-for-yield behaviour via savings cooperatives continued to be present, as reflected in high growth of deposits and investments in securities.

In addition, some large savings cooperatives raised additional funds via short-term borrowings to invest in securities, which could translate into additional liquidity and market risks. The committees viewed that the draft of the Cooperatives Act, which had been approved by the National Legislative Assembly, would serve as a good starting point in enhancing the supervision of cooperatives. But the committees saw that further improvements were urgently needed in the areas of risk management and governance.

Large conglomerates had been raising funds actively during the period of low interest rates, and some of them appeared to channel more investment to non-core businesses and abroad. Such developments could make it difficult to assess risks related to large conglomerates, which could lead to underpricing of risks. Moreover, some conglomerates expanded their issuances of perpetual bonds to raise funds. The Office of the Securities and Exchange Commission has been monitoring this trend closely and emphasising that complete information on associated risks must be provided to investors.

In the committees’ view, risks related to large conglomerates must be monitored regularly, given their interconnections with the financial system at large due to their complex structure and growing funding activity via loans and debt securities, said the statement.

In the periods ahead, Thailand’s financial system could still face several risk factors. Chief among them are heightened volatility in global financial markets, uncertainties in G3 countries’ economic and monetary policies, trade protectionism measures, as well as geopolitical risks. The debt serviceability of households and SMEs in certain industries will be closely monitored, the statement added.

Tech defines the challenge for retailers

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Central Food Retail is showcasing its Tops Daily outlet in the Singha Complex as the most innovative mini-supermarket in Thailand.
Central Food Retail is showcasing its Tops Daily outlet in the Singha Complex as the most innovative mini-supermarket in Thailand.

Tech defines the challenge for retailers

Economy December 27, 2018 01:00

By KWANCHAI RUNGFAPAISARN
THE NATION

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THE coming year will be another challenging one for retailers with a number of trends set to characterise the retail landscape, especially the emergence of digital technology and changes in shoppers’ behaviour that see them wanting more than just good products at attractive prices.

Larry Chao, managing director of Chao Group Ltd, an organisational change consultancy based in New York and Bangkok, said that 2019 is going to be a profitable year for retailers in Thailand that are willing to embrace digital technologies, capitalise on consumer trends and follow responsible business practices.

Through artificial intelligence (AI), such as voice technology, retailers can have real-time conversations with consumers using so-called chatbots while they shop in-store. These chatbots can learn what consumers want, then target products and promotions to suit their needs. Voice technology, along with instant messaging, promises to deliver more personalised experiences to consumers, answering questions faster and more completely, as well as stimulating impulse purchasing.

“Although it’s not as advanced as in China, where nearly half of all online sales are made via mobile phones, online purchasing is poised to make a bigger splash in Thailand as more and more retailers and banks partner to ensure secure transactions,” said Chao.

“Already Siam Commercial Bank has the capability to allow consumers to scan QR codes and pay bills digitally. This will only grow as consumers gain more trust in retailers in paying for purchases digitally.

“While digital technologies will encourage businesses and consumers to migrate to digital platforms or at least use both bricks and mortar digital alternatives, shopping centres here in Thailand are not likely to experience a ‘downfall of the mall’ as they have in the West. Thais still enjoy visiting shopping malls for social reasons and they appreciate the tangible and sensory experiences offered by physical retail outlets.”

Chao said that to attract and encourage foot traffic and purchases, retailers will need to differentiate themselves with exciting experiences that are relevant to their target shoppers. According to KPMG’s annual report on retailing trends, “experience per square foot” will be the new retail metric to measure success. “Moreover, these experiences need to tell a story that reflects the brand messages of the products they are trying to sell, rather than just trying to attract attention by loud noises and lots of colour,” he said.

“Consumers want to enjoy their shopping experience, and retailers who can provide something new and different will win.”

He added: “Another trend that will affect successful retailers is how effectively they incorporate health and wellness into their business. Thailand has one of the fastest ageing populations in Asia and now more than ever, consumers are concerned about eating and living well. For example, in a recent survey by Inside Retail, over 85 per cent of shoppers say they are actively trying to improve their diet. Supporting how consumers look and feel should be a key priority for how retailers position themselves and products and services they offer.”

Driven by millennials

He said that, in the back of their minds, consumers prefer to deal with retailers that are responsible, good corporate citizens.

“Driven primarily by millennials, consumers are informed and concerned about the practices of retailers and the brands they carry. With so many choices, consumers prefer to do business and be associated with a retailer who is responsible with an untarnished reputation,” Chao said.

“Whether the cause is preserving the environment, abstaining from selling products that use drug testing on animals or child labour, more and more retailers need to be aware that these issues matter to consumers.”

Kiatanantha Lounkaew, a lecturer in the Faculty of Economics at Thammasat University, said that the transformation of modern retailers in Thailand lags three to five years behind that other developed countries, such as in the US, Europe, Australia and New Zealand.

“Tesco in the UK started to reduce its number of people about five to six years ago and now it is happening in Thailand as well,” he said, adding that the major forces behind such reductions in the number of employees are the higher cost of workers, the emergence of new technology, which is now cheaper and able to replace human capital, and the readiness of people to deal with new technology.

“The Thai retail sector is now running into what is called internationalisation, especially the new working organisation, which relies on fewer people, but smarter technology,” said Kiatanantha.

He added that many retailers are trying to encourage individual shoppers to act like their staff. “Self-cashiering” by barcode scanning is a vital example of an initiative launched by major retailers, who want their shoppers to act like cashier staff in a move aimed at reducing costs.

Kiatanantha said that the power of information search is coming back into the hands of the customers.

He said that customers are divided into two major groups. The first one is the “niche” shoppers, who buy products determined by an emotional drive.

“In the past, retailers defined a customer target for their products. But in the new retail era, both online and off-line retailers need to exist in the online world that individual shoppers can find easily. They (retailers) need to focus on finding insights of particular shoppers, and drive them into actual selling activities,” said Kiatanantha.

The second group of shoppers comprises those who buy products on price and promotions. To serve this group of customers, retailers still need to sell a massive amount of products at cheap prices and with hard-selling activities. Lazada is a good example of an online retailer with special-price promotions and hard-selling campaigns.

Kiatanantha said that the next trend for 2019 is that individual shoppers will have many dimensions of their own. They will be more complicated with diversified characters and demands.

“Retailers then need to do data-intensive activities to find out their insights and cater to the different dimensions of shoppers. The launch of massive advertising campaigns may not work anymore, but on-timing advertising will be more proper way of communication that reaches different groups of shoppers,” he said.

“Integrated online marketing will be used to effectively reach individual customers, who have shifted themselves from one to another of the online sites, such as Facebook and Instagram.”

THE NATION TOP SPORTS NEWS 2018

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  • Ariya Jutanugarn of Thailand poses for a photo with (left to right) the Rolex Player of the Year trophy, Leaders Top 10 Competition Trophy, Vare trophy, Rolex Annika Major award and the Race to the CME Globe trophy.
  • The Nation Sports Highlights of 2018
  • The Nation Sports Highlights of 2018

THE NATION TOP SPORTS NEWS 2018

sports December 29, 2018 01:00

By Lerpong Amsa-ngiam
The Nation

Queen Ariya reigns supreme

2018 has been an amazing year for world No1 golfer Ariya Jutanugarn, taekwondo exponent Panipak Wongpattanakit and J-League footballer Chanathip Songkrasin. For some sports, however, it’s been a year best quickly forgotten. Here are The Nation’s picks of the biggest sports stories of the past 12 months.

Ariya Jutanugarn ruled over women’s golf, winning her biggest trophy yet – the US Open – and two more LPGA titles: the Kingsmill Championship and Ladies Scottish Open. She then became the first woman in history to clean sweep all the major awards: Player of the Year, Race to CME Globe, Annika Major Award, LPGA Vare Trophy, Top 10 Leaders and No 1 Money List. Older sster Moriya and Thidapa Suwannapura also celebrated their own LPGA title wins.  Kiradech Aphiranrat proudly continued to fly the flag for Thailand’s in the men’s game, breaking into the Top 30 and becoming the first Thai to earn his full membership card for the world-leading PGA Tour.

 

Mighty Mouse Chanathip Songkrasin emerged as one of the Kingdom’s most successful football players ever, scoring eight goals for Consadole Sapporo to help them to their highest ever J-League finish (fourth). Just 158cm tall, Chanathip was voted by his teammates as the team’s most valuable player of the season but the highlight of his career was being included in the Team of the Year at the recent J-League Awards, the first Asean footballer to ever receive such an honour.

Taekwondo star Panipak Wongpattanakit ended the year as the undoubted world No 1 in the women’s 49kg category after snaring a total of six titles. Her major wins included two World Grand Prix titles, in Manchester and Taoyuan, the Asian Games gold medal and two gold medals in the World Taekwondo Grand Slam Champions Series. The 21-year-old from Surat Thani is one of the hottest Thai prospects at the Tokyo Olympics in 2020.

For the first time in history, the women’s badminton team reached the final of the Uber Cup. Led by three top-10 players – Ratchanok Intanon (singles) and the doubles pairing of Jongkolphan Kititharakul and Rawinda Prajongjai – the hosts upset 14-time champions China 3-2 in the semi-finals at the Impact Arena in May but fell short in the gold medal match, 3-0 to Japan. The event will return to Bangkok in 2022.

 

After back-to-back wins over Roman Gonzalez of Nicaraqua that earned him the WBC super-flyweight belt in the US last year, Srisaket Sor Rungvisai returned to Uncle Sam in February to defend his title and succeeded with a majority decision over Juan Francisco Estrada of Mexico. He later beat another Mexican Iran Diaz with a unanimous points decision on home soil in October, a bout featured in the One Super Series.

Despite being a football-obsessed country, Thailand managed to nonetheless host a highly successful MotoGP event in Buriram – in fact the Kingdom’s debut went down so well in the sport it was voted the best MotoGP stop of the calendar. More than 220,000 fans packed into the Chang International Circuit, the highest turnout of any MotoGP race in 2018. A clever use of E-taen trucks – northeastern agricultural vehicles – as “shuttle buses” was one of the tournament’s highlights.

Ever since the retirement of legendary tennis player Tamarine Tanasugarn in 2016, Thai tennis has been lamenting the lack of an heir apparent … until Luksika Kumkhum ended the long wait for a Thai champion on the WTA circuit by winning two WTA 125K Series in Mumbai and Taiwan in November. That strong finish helped her to wrap up the season on a career-high No 66 in the world. The Chanthaburi-born player also reached the third round of the Australian Open in January, the second Thai to do so in 21 years, after Tamarine in 1997.

 

The 18th Asian Games was a priority event for Thai athletes in 2018 but the the team’s campaign in the quadrennial event ended in disappointment. Only 11 golds were brought home, far short of the projected 17-20 hopes for by sports chiefs. Out of those 11 medals, only three – by shooter Sutiya Jiewchaloemit in the women’s skeet, Panipak Wongpattanakit (taekwondo) and cyclist Jai Angsuthasawit (men’s keirin) – came from Olympic standard sports.

 

One of the biggest flops of the year was undisputedly the shock semi-final exit of the Thai football team at the AFF Suzuki Cup. The five-time champions were seeking a hat-trick of triumphs but crashed out on the “away goals” rule, managing just a 2-2 draw at home rule after a 0-0 draw with Malaysia in Kuala Lumpur. A poorly taken late penalty by Adisak Kraisorn, which would have taken the team into the final, ranks among the most painful memories for Thai football fans this year.

 

The passing of Leicester City chairman Vichai Srivaddhanaprapha in a helicopter crash was a great loss to Thai sports this year. The former CEO of King Power made headlines around the world when he inspired The Foxes to a fairytale Englidsh premier league crown out of nowhere in the 2015-2016 season. His death brought an outpouring of grief, not only in Thailand but also in the global sports scene.

New skipper Teerasil urges spirit of adventure

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Milovan Rajevac and Teerasil Dangda
Milovan Rajevac and Teerasil Dangda

New skipper Teerasil urges spirit of adventure

sports December 29, 2018 01:00

By Lerpong Amsa-ngiam
The Nation Weekend

Thailand coach Milovan Rajevac has appointed striker Teerasil Dangda as captain for the AFC Asian Cup, which starts next Saturday in the United Arab Emirates.

Teerasil, who just returned from playing for J-League 1 runners-up Sanfrecce Hiroshima, will inherit the captain’s armband from goalkeeper Kawin Thamsatchanant, who has had to withdraw with a foot injury.

Left back Theerathon Bunmathan and midfielder Chalermpong Kerdkaew have been selected as vice-captains.

Since joining the senior team in 2007, the 30-year-old Teerasil, who will return to Muangthong United next season, has netted an outstanding 42 times in just 95 Thailand games.

Meanwhile, star midfielder Chanathip Songkrasin is confident his side will beat India in their opening match on January 6 in Abu Dhabi.

“I don’t have much information about India but the scouting team will show us their videos soon,” said the 25-year-old player who will start his permanent contract with J-League’s Consadole Sapporo in February. “The first game is always tough but our team has been improving and I’m sure we can earn three points from the opening game.”

Thailand are in a group with Bahrain and hosts UAE – the top two in each of the six groups, plus the four best third-placed teams, go through to the round of 16.

“UAE will be tough to play. All their players have individual talents and are physically big. UAE has a tough league and their players have been training together for a long time,” Chanathip added.

He also believes the War Eelephants need to be more adventurous if they want to make their mark in the tournament.

“We’ve started to train more [on our] attacks. At the Asian level, we have to be more aggressive but also be consistent. If we make mistakes, we could be punished,” he said.

MURRAY MARCHES ON AT ASIAN TOUR QUALIFYING SCHOOL

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Zach Murray of Australia
Zach Murray of Australia

MURRAY MARCHES ON AT ASIAN TOUR QUALIFYING SCHOOL

sports December 28, 2018 19:30

Hua Hin – Australia’s Zach Murray edged closer to another dream start in his early professional career by carding a four-under-par 67 to head into the weekend rounds in prime position together with Thailand’s Poom Pattaropong at the Asian Tour Qualifying School Final Stage on Friday.

The 21-year-old Australian turned professional only last month and is already enjoying an early boost to his fledgling career as he leads the field with his three-day total of 14-under-par 199 at the Lakeview Resort and Golf Club.

China’s Xiao Bowen, who was among the leading 140 players and ties to progress after the first two rounds, remained firmly in control of regaining his playing rights on the Asian Tour when he returned with a 66 to take fifth place.

Having made to make the early exit at Qualifying School earlier this year, American Jeremy Wendelken will get another shot of securing his Tour card as he heads into the next round in a share of seventh place with his 203 total.

A further cut for the final round will be made after the fourth round where only the leading 70 players and ties will feature on Sunday.

At the conclusion of 90 holes, the leading 35 players and ties will be ranked accordingly for the 2019 season.

Leading scores after round 3 of the The Asian Tour Qualifying School Final Stage 2019 being played at the par 71, 6888 Yards A&B course (am – denotes amateur):

199 – Zach MURRAY (AUS) 68-64-67, Poom PATTAROPONG (THA) 67-64-68.

200 – Tomoharu OTSUKI (JPN) 69-65-66, Christoffer BAUMANN (SWE) 64-68-68.

201 – XIAO Bowen (CHN) 64-71-66.

202 – Austen TRUSLOW (USA) 67-66-69.

203 – Ben GEYER (USA) 68-68-67, Jeremy WENDELKEN (USA) 67-66-70.

204 – Kisang LEE (KOR) 72-70-62, Gunn CHAROENKUL (THA) 69-68-67, Jeff BERKSHIRE (USA) 70-67-67, Kade MCBRIDE (AUS) 70-69-65, Itthipat BURANATANYARAT (THA) 67-67-70, Clyde MONDILLA (PHI) 71-68-65, Mikumu HORIKAWA (JPN) 72-68-64, Jobim CARLOS (PHI) 68-66-70, Sean KELLY (USA) 65-69-70, Dale BRANDT-RICHARDS (AUS) 72-68-64.

Kyrgios says bitten by spider ahead of Brisbane title defence

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Nick Kyrgios
Nick Kyrgios

Kyrgios says bitten by spider ahead of Brisbane title defence

sports December 28, 2018 14:14

By AFP

Temperamental Australian star Nick Kyrgios revealed on Friday he was bitten by a spider over Christmas ahead of his defence of the Brisbane International.

The fiery 23-year-old posted a short video on his Instagram account showing him with what appeared to be a drip in his arm and being treated by medics.

“This spider bite outta contro,” a caption to the video said.

He added to his nearly one million followers: “Got a spider bite on my foot. Christmas different every year.”

Local reports said he spent the festive season in a Canberra hospital but was still on track to be in Brisbane for the tournament that starts on Monday.

Kyrgios finished his season early in October after an elbow injury forced him out of the Kremlin Cup in Moscow.

Returning home to prepare for 2019, the world number 35 admitted last month he was working through mental health issues that had plagued him throughout the year.

“I’m starting to see some psychologists and trying to get on top of my mental health,” he said then.

The supremely talented but combustible Kyrgios has become infamous for his public outbursts and meltdowns on court.

His win in Brisbane was his only title success in 2018.

6.9-magnitude quake strikes off southern Philippines: USGS

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6.9-magnitude quake strikes off southern Philippines: USGS

ASEAN+ December 29, 2018 11:45

By Agence France-Presse
Manila

A 6.9-magnitude earthquake struck off the southern Philippine island of Mindanao on Saturday, monitors said, adding that a tsunami threat was possible for parts of the Philippines and neighbouring Indonesia.

The quake struck southeast of Davao City at a depth of 59 kilometres (35 miles), the US Geological Survey said, while the Pacific Tsunami Warning Centre said “hazardous tsunami waves from this earthquake are possible” along the coasts of Indonesia and the Philippines.

However tsunami waves were forecast to be less than 30 cm (12 inches) high, the Pacific Tsunami Warning Centre said.

The Philippines’ government seismology office said cities in the south of the country felt “moderately strong” shaking.

The provincial civil defence office said it had no immediate reports of damage or casualties from the quake.

According to the USGS, there was a low likelihood of casualties and damage, although it warned recent earthquakes in the area had caused landslides.

The Philippines and Indonesia lie on the so-called Ring of Fire, a vast Pacific Ocean region where many earthquakes and volcanic eruptions occur.

The most recent major quake disaster to strike the Philippines was in 2013 when a 7.1-magnitude quake left more than 220 people dead and destroyed historic churches in the central islands.

Indonesia has been hit by two major tsunamis this year. More than 400 people were killed last weekend after an erupting volcano triggered a deadly wave that struck the coastlines of western Java island and south Sumatra.

A quake-tsunami in September killed around 2,200 people in Palu on Sulawesi island, with thousands more missing and presumed dead.

Bomb kills three Vietnamese tourists, guide near Egypt pyramids

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Bomb kills three Vietnamese tourists, guide near Egypt pyramids

ASEAN+ December 29, 2018 08:03

By Agence France-Presse
Giza, Egypt

Three Vietnamese holidaymakers and an Egyptian tour guide were killed Friday when a roadside bomb blast hit their bus as it travelled close to the Giza pyramids outside Cairo, officials said.

A statement by the public prosecutor’s office said 11 other tourists from Vietnam and an Egyptian bus driver were wounded when the homemade device exploded.

The improvised explosive device was placed near a wall along the Mariyutiya Street in Al-Haram district near the Giza Pyramids, it said.

The bus was carrying a total of 16 people including 14 Vietnamese tourists, an Egyptian driver and a tour guide, according to the statement.

Armed security personnel quickly deployed to the site and cordoned off the area for inspection.

The white tourist bus could be seen with its windows shattered and surrounded by soot-covered debris.

Prime Minister Mostafa Madbouli visited the injured tourists in hospital, where he announced that the tour guide had died from his wounds.

Madbouli urged against “amplifying” the incident as he insisted that “no country in the world can guarantee that its 100 percent safe”.

“It’s possible at times that an individual incident takes place here or there,” he told journalists.

“We have to know that it’s possible that it would be repeated in the future.”

There was no immediate claim of responsibility for the blast.

Later, a statement issued by the United States condemning the attack.

“We stand with all Egyptians in the fight against terrorism and support the Egyptian government in bringing the perpetrators of this attack to justice,” State Department spokesman Robert Palladino said.

Tourism struggling

Egypt’s tourism industry has been struggling to recover from terror attacks and domestic instability that has hit the country in recent years.

In July 2017, two German tourists were stabbed to death by a suspected jihadist assailant at the Egyptian Red Sea beach resort of Hurgada.

In October 2015, a bomb claimed by a local affiliate of the Islamic State group killed 224 people on board a passenger jet carrying Russian tourists over the Sinai peninsula.

That incident dealt a severe blow to Egypt’s tourism industry still reeling from the turmoil set off by the 2011 uprising that forced veteran leader Hosni Mubarak from power.

Egypt has since been seeking to lure tourists back and spur the lucrative sector by touting new archaeological discoveries and bolstering security around archaeological sites and in airports.

Tourism has slowly started picking up. The official statistics agency says tourists arrivals in Egypt in 2017 reached 8.2 million, up from 5.3 million the year before.

But that figure was still far short of the record influx in 2010 when over 14 million visitors flocked see the country’s sites.

Egypt has for years been battling an Islamist insurgency in North Sinai, which surged following the 2013 military ouster of president Mohamed Morsi.

Security forces have since February been conducting a major operation focused on the Sinai Peninsula, aimed at wiping out a local IS branch.

More than 450 suspected jihadists and around 30 Egyptian soldiers have been killed since the offensive began, the army said in October.

The pyramids of Giza are the only surviving structure of the seven wonders of the ancient world and a major tourist draw attracting visitors from across the globe.

British divers in Thai cave rescue make UK honours list

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In this file photo taken on October 16, 2018 British divers involved in the Tham Luang cave rescue in Thailand, (L-R) Chris Jewell, Connor Roe, Jim Warny and Rob Harper, pose for a photograph at a reception in London./AFP
In this file photo taken on October 16, 2018 British divers involved in the Tham Luang cave rescue in Thailand, (L-R) Chris Jewell, Connor Roe, Jim Warny and Rob Harper, pose for a photograph at a reception in London./AFP

British divers in Thai cave rescue make UK honours list

Breaking News December 29, 2018 06:54

By Agence France-Presse
London

A team of British divers who helped save a junior football team stranded in a flooded cave in Thailand were among those awarded in Britain’s traditional New Year Honours, announced on Friday.

The seven underwater specialists involved in the remarkable rescue were joined on the prestigious annual achievement list by Hollywood filmmaker Christopher Nolan and former supermodel Lesley Lawson, better known as Twiggy.

Other recipients include Monty Python actor Michael Palin and Jim Carter from “Downton Abbey”, best-selling author Philip Pullman and leading Brexiteer lawmaker John Redwood.

Four of the divers were given awards for exceptional bravery while the three others were made Members of the Most Excellent Order of the British Empire (MBE).

Richard Stanton and John Volanthen — the first of the divers to reach the 12 stricken children and their coach — were awarded the George Medal, the country’s second highest civilian gallantry award.

Stanton had already been made an MBE in 2012 for his rescue services.

Fellow divers Christopher Jewell and Jason Mallinson receive the Queen’s Gallantry Medal, while Joshua Bratchley, Connor Roe and Vernon Unsworth were decorated with MBEs.

“For me, after saving the boys, this is the icing on the cake,” said Unsworth, who has also risen in fame after suing Tesla entrepreneur Elon Musk for labelling him a “pedo guy”.

“This was a team effort and I’m very honoured to have been recognised, particularly as you don’t engage in a major rescue expecting this outcome,” he added.

– ‘It makes me giggle’ –

Sixties it-girl Lawson receives a damehood for services to fashion following a decades-spanning career modelling, singing and acting.

The 69-year-old told Britain’s Press Association that the recognition was “wonderful, but it makes me giggle”.

“The hardest thing has been keeping it a secret,” she said.

Acclaimed director Nolan, an Oscar nominee this year for “Dunkirk” — as well as in 2011 for “Inception” and in 2002 for “Memento” — gets a CBE for services to film.

After graduating from low-budget independent movies, he has directed some of the biggest blockbusters ever made — including several “Batman” films — and become renowned for his technical and narrative daring.

Pullman, the creator of the hugely successful “His Dark Materials” trilogy, receives a knighthood for services to literature.

The 72-year-old said he was “very surprised and honoured” by the acknowledgement.

“I’m most grateful of all to those who continue to read my books, and I hope they don’t have to work as hard as those who edit them,” Pullman added.

Brexiteer wins knighthood

Palin, 75, becomes the first of Monty Python’s revered comedy cast to receive a knighthood.

The veteran actor, who has reinvented himself as a travel documentary maker and writer in later life, gets a knighthood for his international contributions to travel, culture and geography.

He said news of the accolade had yet to sink in. “I don’t think it will be until I see the envelopes addressing me as Sir Michael Palin,” he added.

Meanwhile, as Britain prepares to leave the European Union in March after decades of membership, John Redwood — one of parliament’s most prominent eurosceptics — was made a knight.

Redwood was part of a group of eurosceptics who plotted to bring down the government of former Conservative prime minister John Major, who called them the “bastards”.

The veteran Conservative lawmaker — a vocal opponent of Prime Minister Theresa May’s draft Brexit deal, set to be voted on in mid-January — was among three MPs awarded knighthoods.

There had been speculation this year’s honours could be deployed to try to win support for May’s plan — but it appears unlikely with Redwood.

Earlier this week he published a blog outlining “eight things wrong with the withdrawal agreement”.

Overall, 1,148 recipients were named in Queen Elizabeth II’s 2019 New Year Honours List.

Canadian teacher detained in China is freed

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Canadian teacher detained in China is freed

Breaking News December 29, 2018 06:51

By Agence France-Presse
Ottawa

A Canadian teacher arrested in China for administrative reasons — a case officially unrelated to the ongoing diplomatic row between Beijing and Ottawa — has been freed, authorities said Friday.

Global Affairs Canada “confirms that a Canadian citizen, who was detained in China in December, was released and has now returned to Canada,” spokesman Richard Walker said, without providing further details.

The arrest of Sarah McIver, a teacher accused of working illegally in China, was announced shortly after that of two other Canadian nationals: former diplomat Michael Kovrig, employed by think tank International Crisis Group (ICG), and Michael Spavor, a consultant on North Korea.

The two men, whom China arrested on December 10, were detained on suspicion of “harm to national security” — a phrase often used by Beijing when alleging espionage.

But many observers believe it was retaliation following the early December arrest in Vancouver of Chinese telecommunications giant Huawei’s chief financial officer, Meng Wanzhou.

Ottawa has repeatedly said Meng’s arrest was not political, but rather part of a judicial process in keeping with an extradition treaty with Washington.