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FILE PHOTO: A fish vendor at Commonwealth Market in Quezon City weighs locally sourced “galunggong” or round scad as she waits for customers on Wednesday, August 22, 2018.  INQUIRER/GRIG C. MONTEGRANDE MANILA, Philippines — Senator Manny Pacquiao on Thursday expressed disbelief over the Department of Agriculture’s (DA) announcement that it would import 60,000 metric tons (MT) of pelagic fish, raising questions as to how a country surrounded by large bodies of water can have a shortage in its fish supply. According to Pacquiao, the admission of DA Secretary William Dar that the country is experiencing fish shortage is a manifestation of the government’s inability to manage and optimize the country’s rich aquatic resource properly. “This is unbelievable. Saan ka naman nakakita ng bansang napapaligiran ng mga dagat pero nag-iimport ng mga produktong galing sa dagat? Sobrang kawawa na nga ang ating mga magsasaka dahil sa pagpasok ng napakaraming imported at smuggled na mga bigas … [Read more...] about ‘Unbelievable!’ Pacquiao hits DA’s plan to import 60,000 MT of fish

Share to Twitter Share to Linkedin Topline New York state and city officials filed lawsuits Wednesday going after gun distributors who sell “ghost guns” that can escape firearm restrictions and be harder to trace, as the state tries to crack down on gun violence and do more to limit firearms after the U.S. Supreme Court struck down New York’s concealed carry law. Key Facts New York Attorney General Letitia James and New York City Mayor Eric Adams filed lawsuits in state and federal courts, respectively, against multiple national gun distributors that have been linked to “ ghost guns ,” firearms that are privately assembled and don’t have serial numbers, meaning they can’t be tracked and aren’t subject to background checks on purchases or other restrictions. The lawsuits allege the distributors have sent “unfinished” firearm frames and receivers to people in New York who then use those parts to assemble working guns—without including serial … [Read more...] about New York City And State Sue ‘Ghost Gun’ Distributors — Hit Back After Supreme Court Knocks Down Gun Law

- A + A (June 30): Taiwan’s stock benchmark index slumped on Thursday (June 30), taking its decline from a January high to over 19% and just points away from a so-called bear market. The Taiex gauge closed 2.7% lower in Taipei, the worst performer in Asia. It was dragged by chipmakers after Bank of America took a cautious view on the industry’s growth prospects. Taiwan Semiconductor Manufacturing Co (TSMC), which accounts for more than a quarter of the index’s weighting, dropped 3.1%. Facing headwinds of rate hikes by global central banks, tech-heavy stock markets in Taiwan and South Korea have been the worst performers in Asia this quarter, both down over 15%. Foreign investors have net sold about US$16 billion (about RM70.52 billion) of Taiwan stocks during the three-month period, the most among emerging Asia countries outside China. Taiwan’s deputy finance minister said the National Financial Stabilization Fund will continue to closely monitor the stock market … [Read more...] about Bear market looms for Taiwan stocks after chipmaker-led slump

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

Only the top of this bridge is visible above the floodwaters in Nandirgaon union of Gowainghat upazila of Sylhet, while the dark and heavy clouds threaten tougher times ahead. The photo was taken yesterday. Photo: The Daily Star/Asia News Network DHAKA — People of the northern and northeastern districts of Bangladesh are fearing a second spell of floods as major rivers continue swelling amid torrential rain and onrush of water from upstream. The first phase of the floods hit in the second week of this month and water had started receding from June 22, but things took a turn for the worse over the last two or three days. Low-lying areas of Sylhet’s Companiganj, Gowainghat, Beanibazar, Fenchuganj, Golapganj and Zakiganj upazilas, Sunamganj’s Chhatak and Dowarabazar upazilas, Lalmonirhat Sadar upazila and Sirajganj Sadar upazila were the worst hit by the latest spell of floods. The Kushiara river in Sylhet was flowing 114cm above danger level at Amolshid point in Zakiganj upazila … [Read more...] about Fresh floods loom as Bangladesh rivers keep swelling

Tokyo is now battling its most severe heatwave for the month of June since records began in 1875. PHOTO: REUTERS TOKYO — A smothering heatwave now blanketing Japan is not only causing a power crunch in the country but is also raising fears of a drought. Wide areas in western Japan are now facing a crippling water shortage following the shortest rainy season on record, with water levels in dams less than half of what they would be in an average year. Municipalities like the cities of Matsuyama and Shikokuchuo in Ehime prefecture have begun to call on residents to ration water. Top government spokesman Hirokazu Matsuno told a regular news briefing on Tuesday that the government has a “strong sense of crisis” over the impact on water supply if the current heatwave were to continue. The risk of a drought, however, remains low in eastern Japan as there was heavy rainfall in the mountainous areas north of Tokyo. But eastern Japan is grappling with the spectre of a power crunch. … [Read more...] about Japan faces twin threats of power shortage, drought amid heatwave

LONDON: OPEC+ enters a second and final day of meetings on Thursday with sources saying the group is unlikely to decide imminently to pump more barrels to the market beyond August. At its last gathering in early June, OPEC+ decided to raise output each month by 648,000 barrels per day (bpd) in July and August, compared with a previous plan to add 432,000 bpd over three months. OPEC+ consists of the Organization of the Petroleum Exporting Countries and allies such as Russia. Washington welcomed the producers' decision in June that followed months of pressure from the West on OPEC+ to raise production to help lower oil prices. International prices hit their highest since the record levels of 2008 after the West imposed sanctions on Russia over its invasion of Ukraine begun on Feb. 24, which Moscow calls "a special military operation". They have eased since this year's March peaks, but rose above $115 a barrel this week because of tight supply and concern OPEC has little ability … [Read more...] about Opec+ meets with little prospect of pumping more oil

Bandhan Bank share price slipped to a low of Rs 263.40 on June 28, down more than 6 percent from its previous close, on fears that the floods in Assam and neighbouring areas could impact the operation of the company in the region, analysts said. The Kolkata-headquartered lender has a large focus on the eastern parts of the country. “In most of the cases, loans disbursed by the banks in the northeast region affected by floods are non-collateral loans, thus with flood hitting the region, there is growing employment crisis leading to rise in non-performing assets (NPAs),” IIFL Securities analyst Sanjiv Bhasin said. According to analysts, some of the bank’s portfolio has gone bad already, hence the negative reaction from the market. Alongside, as evident from previous trends, whenever the market falls, the reaction is predominantly more for Bandhan Bank but it recovers fast as well, they said. They added that despite the fall, the bank is not performing too badly but the bad … [Read more...] about Bandhan Bank share price sinks on Assam flood worries

A used-car dealership in Suwon, Gyeonggi, is submerged as a heavy rain warning was issued for the capital and its surrounding areas on Thursday. [YONHAP] Torrential rain pounded the capital and central regions on Thursday, with roads inundated and damage reported across the country. The city of Seoul closed the Dongbu Expressway, which runs from southeastern Songpa district to Uijeongbu, the northeastern city of Gyeonggi, at 6:43 a.m. after heavy rains pushed up the water level of the nearby Jungnangcheon Stream. The rain subsided and traffic was allowed back on the expressway at 11:30 a.m. But the rain picked up and traffic was stopped again at 1:25 p.m. Traffic on Olympic-daero, a main artery in Seoul, was restricted from 11:40 a.m. as discharges from the Paldang Dam raised the water level of the Han River. The Jamsu Bridge over the Han in central Seoul was shut at 9:04 a.m. Thursday because the water level reached 6.22 meters. At 6.2 meters, vehicle traffic is supposed … [Read more...] about Rains pound capital, but other parts are dry

Share to Twitter Share to Linkedin In the last few weeks, I’ve had two cultural experiences that I’m still trying to get my head around: Bob Dylan on his ‘Rough and Ready Ways” Tour and Baz Luhrmann's “Elvis.” Each, in their singular way, speaks to the struggle for authenticity in one’s art. Bob Dylan, who recently turned 81, performed three nights at the Pantages Theater in Hollywood. I attended the first night’s performance: Dylan spent most of the night behind the piano, occasionally venturing beside his piano to sing, play harp, and occasionally play guitar. He was clean-shaven and still has a full head of hair (although it can’t really be that dark). Dylan was dressed in one of his Western suits. Whether this was an actual Nudie confection or another’s – it spoke to Dylan being of the West, and at the same time, being a creature of Showbiz with a nod to those other rhinestone cowboys such as Hank Williams. Dylan didn’t seem as sure footed on stage as he … [Read more...] about Bob Dylan & Elvis Stay True