He was scheduled to announce the arrangement of ministries and the ministerial appointments to Parliament today.

Ethnic minority MPs welcomed his proposal to form an ethnic affairs ministry, one of 21 ministries compared to 36 under President Thein Sein’s administration.

“We support and welcome the proposal as we are ethnic minorities. We called for a ministry like this five years ago. Ethnic representation should be increased. The formation of an ethnic affairs ministry builds a bridge towards the peace process. The ministry should ease the suffering of the ethnic groups in the fields of education and health,” Arakan National Party Lower House MP Khin Saw Wai for Rathedaung said.

He noted that the ministry’s main task should be to tackle armed conflicts and involve all groups into the peace process.

“Ethnic rights should no longer need to be demanded but we still suffer from loss of human rights. Development is slow. We hope this ministry will not need to be permanent,” said Upper House MP Sai Wan Hlaing Kham of the Shan Nationalities League for Democracy.

Htin Kyaw’s list showed that 10 ministries would be axed: the ministries of co-operatives, mines, rail transport, sports, science and technology and five president’s offices. Twelve ministries will be combined into six.

New bodies include the ministries of Culture and Religious Affairs, Telecommunications and Transport, and Electric Power and Energy. The Ministry of Finance and Revenue is being formed from the ministries of National Planning and Economics, Labour, Employment and Social Security, and Immigration and Manpower.

The Agriculture and Irrigation Ministry is going to be united with the Livestock, Fisheries and Rural Development Ministry.

New organisations include the Ministry of Ethnic Affairs and the Ministry of the President’s Office.

People involved in national sports last week expressed no concern about the proposal to scrap the Sports Ministry and transfer jobs to a suitable ministry.

Displeased with past poor performance of the ministry, which was established in 1996, they are convinced that there should not be a problem as long as the right person is assigned to strengthen the sector.

Myanmar won more than 80 gold medals at the 27th SEA Games hosted in the country. However, Myanmar won only 12 gold medals in the previous SEA Games held in Singapore.

“I don’t think there will be much impact. What matters is the management system and budget allocation. As such, sports policies can be handled by a department. It is too soon to comment on it,” said Banny Tin Aung, former deputy director of the Department of Sports and Physical Education and former secretary of the Myanmar Football Federation.

Than Toe Aung, the coach of the Myanmar national football team as well as former national footballer, said: “The one who leads the sports must be patriotic and devoted. In fact, the Ministry of Sports could not perform well in the past. There has been no programme whatsoever to draw in young athletes. If the incoming government can do this, there will be more new blood.”

Parliamentary Speaker Mahn Win Khaing Than has announced that there will be 21 ministries and 18 ministers in the new cabinet.

The ministries are:

1) Ministry of Foreign Affairs

2) Ministry of Agriculture, Livestock-Fisheries and Irrigation

3) Ministry of Transport and Telecommunications

4) Ministry of Culture and Religious Affairs

5) Ministry of Resource and Environmental Conservation

6) Ministry of Electric Power and Energy

7) Ministry of Labour, Immigration and Man Power

8) Ministry of Planning and Finance

9) Ministry of Industry

10) Ministry of Health

11) Ministry of Education

12) Ministry of Construction

13) Ministry of Social Welfare, Relief and Resettlement

14) Ministry of Hotels and Tourism

15) Ministry of Economics and Commerce

16) Ministry of Information

17) Ministry of Ethnic Affairs

18) Ministry of the President’s Office

19) Ministry of Defence

20) Ministry of Home Affairs

21) Ministry of Border Affairs

He said yesterday that the new government would heed public opinion before making the next move and if the project does not win public approval, it would not be resumed.

“We have always faced questions on this. Anybody can say what they want. But as the spokesperson of the party, the o nly thing I can say is our policy is clear. We have special consideration for the people. We will not do it if people do not agree. Our chairperson Aung San Suu Kyi already mentioned it. We will aim for the development of the people,” he said.

Suu Kyi said during her election campaign in Myitkyina, Kachin State, that she had not seen the details of the Myitsone dam agreement and after studying it she would seek the people’s opinion to decide what to do.

With capacity to build 6,000 megawatt, Myitsone will be the fifteenth largest hydroelectric power station in the world. It is to be built by the Upstream Ayeyawady Confluence Basin Hydropower Co, a joint venture between China Power Investment Corporation (CPI), Myanmar’s Ministry of Electric Power and the Asia World. Due to strong opposition, President Thein Sein suspended the project in 2011.

Local concerns intensified recently after the Chinese ambassador to Myanmar Hong Liang said on March 4 that China would seek every possible way to resume the project by cooperating with the NLD. Reuters reported that the Chinese deputy minister for foreign affairs Liu Zhenmin said Beijing would urge the new government to resume the project, as it was still valid.

“It is an important cooperation project to implement between the two countries. In 2011, Myanmar postponed it but the contract is still valid. Cooperation is important for both countries. When the new government takes office, the Chinese government will continue to discuss ways to restart the project,” said Liu Zhenmin.

The comment stirred protest threats if the project is revived.

Environmentalist Win Myo Thu said: “This issue must be settled. The NLD said it would follow the people’s wishes. In order to do so, it needs principles. Depending on that principle, every possibility must be researched thoroughly. If it is cancelled completely, compensation should be given.”

NGOs and local people said that the giant dam would lead to the flooding of about 4,800 hectares, affecting 48 villages and people along the Ayeyawady (Irawaddy) River.

Chinese Premier Li Keqiang will chair the meeting in Sanya on Wednesday, which will also involve the leaders of Cambodia, Laos, Myanmar and Vietnam.

They will discuss the formulation of initiatives and measures under the cooperation.

The Lancang-Mekong Cooperation began in 2014 and its first foreign ministers’ meeting was held in Jinghong, China last November.

At Wednesday’s meeting the discussion will focus on a wide range of issues concerning the Mekong region including political matters, economic cooperation, security, the environment and the cultures of theMekong countries.

“The five countries are lagging behind in Asean, especially Laos, Cambodia and Myanmar,” Chinese Vice Foreign Minister Liu Zhenmin said in a press briefing in Beijing last week. “Cooperation will help narrow the development gaps within Asean, and promote prosperity in the sub-region.”

On Wednesday, the leaders of the six countries will endorse major initiatives including the Sanya Declaration of the First Lancang-Mekong Cooperation, the Joint Statement on Production Capacity Cooperation Among Lancang-Mekong Countries and the Tentative Joint List of the Lancang-Mekong Cooperation Early Harvest Project, according to a Thai government official.

More than 40 projects are listed under the early harvest scheme, which allows countries in the basin to begin projects such as a water utility monitoring system at the Mekong Mainstream and Information Centre.

Mekong countries downstream from China have complained that water levels had been affected by the latter’s Mekong dam projects.

Beijing, in response, agreed to release water from the dams between March 15 and April 10.

Vietnam hailed the decision, as it now has more freshwater to prevent seawater entering the MekongDelta.

But the release of water created new problems for people living along the Mekong, as levels increased too rapidly in a short period.

Prayoon Saen-ae, a local resident in Chiang Khan district in Loei, said that fishing and tourism in the province had been seriously affected by the sudden change in the water level.

He said many river beaches had been inundated by water, and local vendors who earned a living from tourism during summer were suffering.

Environmental academic Chainarong Sretthachau, from Maha Sarakam University, urged the leaders of the six nations to listen to people living along the Mekong and discuss their problems in Hainan.

He said that before leaving for the meeting, Prayut should meet with locals in the eight provinces along the river and listen to their problems.

Many projects along the Mekong have failed to create sustainable development and had caused “inequality and damaged the environment”, he said.

In a draft of the Sanya Declaration seen by The Nation, the leaders said they would encourage sustainable development while enhancing environmental protection and natural resource management.

The leaders said they would also develop and utilise sustainable and efficient clean energy sources, develop the regional power market, and enhance the exchange and transfer of clean energy technologies.

It found that about two in three workers here who are 45 or older would like to retire in the next five years but 48 per cent of them say they would not be able to. The global average is 38 per cent.

Moreover, 30 per cent of pre-retirees predict that they will never be able to retire fully, compared with the global average of 18 per cent.

Respondents here said the main impediment is a lack of savings or the burden of having dependants to look after.

Having a lot of debt was raised by 26 per cent of respondents here, compared with the global average of 22 per cent.

HSBC surveyed 1,008 respondents – people aged 25 and above as well as retirees – here as part of a survey spanning 17 countries.

START SAVING TODAY

Even small amounts saved by starting today can lay the groundwork for a comfortable retirement tomorrow, placing retirement dreams squarely within reach.

MR IAN MARTIN, chief executive of HSBC Insurance (Singapore).

Mr Matthew Colebrook, head of retail banking and wealth management at HSBC Singapore, said: “The HSBC Future of Retirement survey shows that the financial realities of retirement make it an elusive goal for many Singaporeans.

“This can be rectified with early financial planning and by seeking help from professionals who can provide advice on how to protect and grow your wealth.”

Pre-retirees surveyed said they were anxious that events such as bad health and the need to care for elderly parents could interfere with saving for retirement.

In spite of these concerns, retired life still offers much promise for some.

The poll found that 62 per cent of Singapore respondents aged 45 and above who would like to retire in the next five years want to travel or pursue other interests.

Also, 42 per cent of them would like to spend more time with family once they retire.

Pre-retirees also expect relationships with friends, their partner and their children to improve.

Mr Ian Martin, chief executive of HSBC Insurance (Singapore), said: “People should consider their personal aspirations when planning for retirement and ensure they are making sufficient financial provisions for this new chapter in life.

“Even small amounts saved by starting today can lay the groundwork for a comfortable retirement tomorrow, placing retirement dreams squarely within reach.”

HSBC also noted that about 56 per cent of pre-retirees here do not know how to predict how much they will spend on healthcare in retirement, even though 74 per cent believe that poor health will make saving for their golden years more difficult.

To help individuals assess financial preparedness in realising their retirement aspirations, HSBC has launched the Retirement Profiler, an online tool to help individuals assess financial preparedness in realising their retirement aspirations.

BI’s economy and monetary policy executive director Juda Agung said the central bank has accumulatively slashed its key rate by 75 bps since November 2015. At the same time, the primary reserve replacement ratio (GWM) has been cut by 150 bps. However, the banking industry has, on average, only cut their deposit rate by 7 bps and loan rate by 4 bps.

“It is not yet effective. Therefore, BI’s focus is to make a more effective transmission of policies by strengthening monetary operations and keeping the term structure [of interest rates] consistent. Currently, a one week term structure is 5.7 per cent; we will cut it,” he said in Jakarta on Thursday.

The term structure of interest rates, also known as a yield curve, is the relationship between the interest rate or bond yield and several different terms of maturities. “For the short-term, one week, 5.5 per cent. The long term, 12 months, 6.75 per cent. Similar to BI’s rate,” Juda said, adding that the change would be effective on March 18.

For this month, the central bank decided not to cut its GWM, since the past GWM cut by 100 bps has just been applied on March 16. With such a cut, Juda expected to see Rp 34 trillion (US$2.59 billion) of liquidity being cashed out and spur the lending growth by 14 per cent year-on-year in 2016.

“Banks are expected to immediately respond by lowering interest rates on both deposits and loans and most importantly credit availability. What is most important to businesses is credit availability,” he explained.

BI executive director of communication Tirta Segara projected the economy to grow at a faster pace in the first quarter of the year, driven by consumption and government investment. The central bank expected Indonesia’s economic to grow 5.1 per cent this year, better than last year’s 4.79 per cent.

“Increased government investment is driven by the acceleration of the government’s capital expenditures, which appeared to be disbursed fast in the first two months of 2016,” he said, adding that the growth in private investment was expected to follow in the next month.

They have created a solar cell with 21.3 per cent efficiency – the highest measured for a cell made completely in Singapore.

“Other solar cells made here usually have an efficiency of between 17 and 18 per cent,” said Professor Tonio Buonassisi from the Singapore-MIT Alliance for Research and Technology (Smart), one of two research leads on the project.

The efficiency of a solar cell is the proportion of energy from the sun it turns into electricity.

While there are solar cells made elsewhere with efficiencies of up to 24 per cent, these are usually more expensive. They cost about 50 per cent more than the silicon cells with efficiencies of about 18 per cent, said Professor Armin Aberle, the other research lead. He is the chief executive of the Solar Energy Research Institute of Singapore.

Light is electromagnetic radiation, some of which can be seen and some of which is invisible to the human eye. Infrared and ultraviolet radiation, for example, cannot be seen. They lie at either end of the visible spectrum of light.

Prof Buonassisi said today’s solar cells tend to be made of silicon, and they convert near-infrared light quite efficiently into electricity. But they are less efficient for visible and ultraviolet light.

Scientists in Singapore have discovered that a new material, gallium arsenide, can be incorporated into a solar cell to help it convert the other colours more efficiently.

By layering the gallium arsenide on top of the silicon cell, more of the sun’s energy can be captured and converted into electrical energy, said Prof Buonassisi.

The visible spectrum and ultraviolet light can be tapped in the top layer and the invisible spectrum passes through to be caught in the bottom layer.

The researchers also found that their solar cell had achieved its 21.3 per cent efficiency under more realistic, direct sunlight conditions, as opposed to concentrated sunlight conditions.

Direct sunlight is what a flat panel on a rooftop receives. Concentrated sunlight conditions are created with mirrors or lenses to focus the sunlight, and can be costly.

The Singapore team’s twin-layer cells using gallium arsenide are still at a research phase, and Prof Aberle said there are other teams focusing on other materials, such as perovskites. “It will require a huge R&D effort, but there are good prospects that by 2025, the first prototypes will emerge in the market, with efficiencies of over 25 per cent.

“By 2030, we can expect panel efficiencies of 30 per cent,” he said.

But the researchers added that the challenge is to develop a top cell that is both highly efficient for visible wavelengths and as cost-efficient as bottom silicon cells.

Prof Buonassisi said the team will continue to try and raise the efficiency of their solar cell by experimenting with other materials for the top layer.

He said: “Now that higher-efficiency technology has been developed, the industry, academia and research institutes can work together to come up with ways to manufacture them more cost-efficiently.”

Captain Saiful Bahrin Hj Bahar, the chief pilot and head of flight operations at Royal Brunei (RB) Airlines, said the flag carrier currently has six female pilots.

In an interview, he said another female pilot will join their ranks once she has completed the Cadet Pilot Programme.

He added that currently RB Airlines has 130 pilots, including the six women.

The chief pilot observed that there has been an increase in the number of female applicants seeking to join the Cadet Pilot Programme that was established since the late 1970s.

Captain Saiful attributed the increase in the number of women interested in becoming a pilot to Captain Sharifah Czarena Surainy Syed Hashim, who became the first female pilot in RB Airlines as well as Southeast Asia’s first female captain of a flag carrier line in 2012.

“We (RB) don’t discriminate based on gender, everyone is given equal opportunity, be it male or female because once they have decided to enter this field (being a pilot) they will go through the same process,” he said.

He added that the path towards becoming a pilot is difficult for males and females alike, adding that an individual must have the academic knowledge, physical ability as well as good health to become a pilot.

Captain Saiful said career opportunities for women at RB Airlines are not limited to being a pilot and that there is also an Engineering Apprenticeship Programme open to men and women.

“A word of advice for both men and women out there, the career of being a pilot is a rewarding one, it is challenging and demanding but if they choose to pursue this career, I can guarantee that the rewards are waiting for them,” said Captain Saiful.

Earlier this week, foreign media lauded RB Airlines’ first ever all female flight crew who flew the Boeing 787 Dreamliner to Saudi Arabia.

A photo of the three female pilots, which included Captain Sharifah Czarena, went viral with some foreign media such as BBC News referring to the impressive feat as having “made history”.

“Definitely we are working with everyone to ensure there is transparency and to know what really happened and how to prevent it from happening again,” Communications undersecretary Manolo Quezon said over state-run DZRB, highlighting the actions undertaken by the Anti-Money Laundering Council and the Court of Appeals in freezing the bank accounts involved in the alleged scheme.

“So what does this tell us? First of all, it shows that we are a responsible member of the banking community,” he added.

The Senate is currently conducting an investigation on the cross-border electronic fraud and money laundering scheme where $81 million from the central bank of Bangladesh slipped through the Philippine financial system, with local bank Rizal Commercial Banking Corp. (RCBC) at the center of the controversy.

Despite the heist, Quezon assured the public, especially account holders, that there is nothing to worry about regarding the security and integrity of Philippine banking as all systems are working.

“When the money entered the Philippines as far as we can tell, our system was shown to work because the alarm bells started ringing and and then the other countries also alerted us and in fact, there have been reports that AMLC is working with Federal Bureau of Investigation and United States,” Quezon said.

“We should be aware that the Central Bank of the Philippines is taking this seriously and the AMLC shows that it is doing its job. The Senate is holding hearings in aid of legislation and in fact the Bangko Sentral and the BIR have been giving their recommendations,” he added.

Less than three months before President Benigno Aquino III steps down from office, Quezon said the “groundwork is being laid for future reforms” that would improve the country’s financial system.

“Again, with our countrymen growing apprehensive thinking that this puts the country in a bad light, I think you can see even from media coverage here and abroad that there will be officials held liable, especially from the bank involved, and that’s what’s being investigated now, but on the whole, you can see that the system is working,” he said.

“In other words, it has been exposed, investigated, uncovered and action has been taken to address this disturbing incident and how this money has been taken from a central bank and transmitted to different parts of the world.”

The meeting explored cooperation of companies operating in supporting industries.

About 120 Vietnamese companies, 60 Japanese enterprises operating in Vietnam, and 23 Japanese firms looking for suppliers participated.

Japanese companies want to cooperate with Vietnamese firms to increase the ratio of materials supplied by Vietnamese firms. Success could help Japanese companies reduce production costs.

The local content ratio of products made by Japanese manufacturers in Vietnam last year was 32.1 per cent. This is more than the 26.2 per cent in the Philippines, but less than the 65 per cent in China, 56 per cent in Thailand, and 41 per cent in Indonesia, according to JETRO.

Tran Lê Diem Châu, deputy chief of HEPZA’s investment office, said that 17 export processing and industrial zones in the city attracted 1,387 projects, with total registered capital of around US$9 billion. Of those projects, 559 are foreign investment projects with total investment capital of around $5.4 billion.

According to Nguyen Tuan, vice director of the Investment and Trade Promotion Centre, the development of supporting industries is essential for economic development.

The Ministry of Industry and Trade has an approved support industry master plan, which includes goals through the year 2030. Vietnam will focus on: metal parts and components, plastic-rubber, electrical-electronics, textile-footwear, and high technology to support the industrial sector.