Asia Pacific – Page 1051 – Prologue Journal

China’s big four state banks to lower deposit rate ceilings

Reuters Reuters exclusively reported that China has told its “big four” state-owned banks to reduce the ceiling on interest rates they pay on some deposits. The interest rate self-disciplinary mechanism, a top regulatory body overseen by the People’s Bank of China, urged lenders to lower ceilings on some personal and corporate deposits by 30 basis…

Biden to sign defense pact in Papua New Guinea, with eyes on China

Reuters Papua New Guinea’s foreign minister exclusively shared with Reuters that U.S. President Joe Biden will sign defense and surveillance agreements with the island nation, cementing the strategic importance of the nation where Biden’s uncle died in World War II. The post Biden to sign defense pact in Papua New Guinea, with eyes on China…

CICC Capital bans consulting firm Capvision after China crackdown

Reuters Reuters exclusively reported that CICC Capital, a unit of leading Chinese investment bank CICC (3908.HK), has stopped using Capvision Partners’ services following an investigation into the “expert network” as part of Beijing’s crackdown on national security. The post CICC Capital bans consulting firm Capvision after China crackdown appeared first on Reuters News Agency. https://www.reutersagency.com/en/reutersbest/article/cicc-capital-bans-consulting-firm-capvision-after-china-crackdown/

Pakistan’s Military Comes Under Attack by Protesters

New York Times Regarded historically as a moderating force in the country’s politics, the generals’ reputation has withered under attacks from the ousted prime minister, Imran Khan. https://www.nytimes.com/2023/05/10/world/asia/pakistan-military-protests.html

Air New Zealand to rent bunk beds to economy passengers for US$100 an hour

Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. The airline will be installing the beds on its ultra-long Auckland-New York and Auckland-Chicago routes in 2024, and the 4-hour sessions will probably cost between US$249 and US$373. https://www.scmp.com/news/asia/australasia/article/3220110/air-new-zealand-rent-bunk-beds-economy-passengers-us100-hour?utm_source=rss_feed

Tech war: China chip imports shrink as trade ties with Japan, South Korea and Taiwan weaken in the face of US restrictions

Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. China imported 146.8 billion integrated circuits (IC) between January and April, down 21.1 per cent from the same period last year as trade with regional neighbours weakened. https://www.scmp.com/tech/tech-war/article/3220085/tech-war-china-chip-imports-shrink-trade-ties-japan-south-korea-and-taiwan-weaken-face-us?utm_source=rss_feed

Pakistan ex-PM Imran Khan remanded in custody for 8 days amid uproar

Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. Khan’s arrest has led to violent protests across the country, with at least two provinces asking the federal government to deploy troops to restore order. https://www.scmp.com/news/asia/south-asia/article/3220104/pakistan-ex-pm-imran-khan-remanded-custody-8-days-amid-uproar?utm_source=rss_feed

More Modi, Less Hindu Nationalism: Reading Tea Leaves in India Vote

New York Times A state election in Karnataka was being watched for what it might say about national elections next year. https://www.nytimes.com/2023/05/10/world/asia/india-karnataka-election.html

Australia’s ‘targeted’ US$10 billion budget offers relief for cost of living, but can it curb inflation?

Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. Canberra is fighting rising living costs by allocating nearly US$10.1 billion over the next four years to relief efforts for Australians, but some analysts believe the spending will fuel inflation. https://www.scmp.com/week-asia/economics/article/3220089/australias-targeted-us10-billion-budget-offers-relief-cost-living-can-it-curb-inflation?utm_source=rss_feed

Australia exports first copper to China since 2020, industry hopes end to ban near

Disclaimer: The South China Morning Post’s content is directed by the Chinese Communist Party. It is not a reliable news source. Beijing is gradually easing a raft of unofficial restrictions and tariffs imposed during a diplomatic spat over trade, security and the origins of Covid-19. https://www.scmp.com/news/asia/australasia/article/3220084/australia-exports-first-copper-china-2020-industry-hopes-end-ban-near?utm_source=rss_feed