Black box data on crashed China Eastern 737 suggests possible “intentional nosedive” Investigators are now examining further if the crash of China Eastern Airlines 737-800 on March 21 was indeed due to “intentional action on the flight deck”. The early reports say that there is, so far, no evidence of a technical malfunction. The Wall Street Journal reported this week that flight data from one of the two “black boxes” on the Boeing jet indicated that “someone in the cockpit intentionally crashed the plane”. The comments were made by people the WSJ cited as “familiar with the preliminary assessment by US officials”. US National Transportation Safety Board officials have been working with engineers from Boeing and investigators from the Civil Aviation Administration of China since the crash. Boeing, the US manufacturer of the jet, has so far declined to comment on the early leaks and, instead, referred all questions to the Chinese regulators. At this stage, the CAAC, … [Read more...] about Thailand News Today | Crashed China eastern flight possible “intentional nosedive”
Disputes in the south china sea
Made-in-China Penfolds wine will dodge crippling import tariffs
- A + A SYDNEY (May 18): Treasury Wine Estates Ltd will soon release a made-in-China version of its famous Penfolds brand, dodging punishing import tariffs that are crippling Australia’s wine exports. The first bottles will go on sale in China for between A$30 (US$21) and A$50 in the second half of 2022, Treasury said Wednesday. Experiments with grapes from Ningxia, in China’s central-north, and Shangri-la in the south-western province of Yunnan, have produced “promising characteristics”, it said. Beijing in 2020 slapped tariffs of as much as 200% — or more in some cases — on Australian-made wine as trade and diplomatic relations soured. That effectively cut off from Australian winemakers an estimated 52 million regular drinkers. “We’re confident we can produce a premium Chinese Penfolds that maintains the distinctive Penfolds house style,” Chief Executive Officer Tim Ford in the statement. Treasury in 2021 launched Penfolds Napa, sourced from California grapes, … [Read more...] about Made-in-China Penfolds wine will dodge crippling import tariffs
S.African central bank eyes digital rand to cut cross-border payment costs
- A + A LONDON/JOHANNESBURG (May 18): A digital rand in South Africa could cut the high cost of cross-border payments for banks but its introduction is still a few years away, a senior central bank official said. However, regulation of crypto assets is in the offing and might come into force within nine to 15 months, South African Reserve Bank (SARB) Deputy Governor Kuben Naidoo told Reuters in an interview. It costs 13% of a transaction to remit money from South Africa to another country, more than double the average of the Group of 20 (G20) leading global economies, according to a 2021 World Bank report. Sending money to South Africa costs 6.2%. Some countries are planning to introduce e-versions of traditional currency, known as central bank digital currencies (CBDCs) and are studying how the underlying technology could be used. China's digital yuan project is the most advanced among large economies, though central banks from the euro zone to the United … [Read more...] about S.African central bank eyes digital rand to cut cross-border payment costs
North Korea Claims Covid Outbreak Is Taking A ‘Favorable Turn’ As WHO Frets About Lack Of Data
Share to Twitter Share to Linkedin Topline North Korea on Wednesday claimed its Covid-19 outbreak was taking a “favorable turn” while still reporting more than 200,000 new suspected cases as the World Health Organization expressed concerns about the lack of proper data from the country and the risk of unchecked spread. Key Facts On Wednesday, North Korea reported 232,880 new cases of “fever” and six additional deaths, according to the state-controlled Korean Central News Agency (KCNA). The country has reported 62 deaths in total and 1.72 million suspected cases, of which authorities claim more than 1 million have recovered. State media is only reporting the number of cases with fever—one of many symptoms of Covid—as North Korea is believed to lack adequate testing supplies, indicating that it may be missing out on cases that are asymptomatic or mild. In a Politburo meeting on Tuesday, leader Kim Jong Un once again took aim at his … [Read more...] about North Korea Claims Covid Outbreak Is Taking A ‘Favorable Turn’ As WHO Frets About Lack Of Data
North Korea may conduct missile test as Joe Biden visits Asia: US
US President Joe Biden’s approval ratings are barely 40%. Opinion polls indicate that the Democrats could lose both the House and the Senate in the 2022 mid-term elections. (Illustration by Suneesh K.) U.S. intelligence shows that it’s a “genuine possibility” that North Korea will conduct another ballistic missile test or nuclear test around President Joe Biden’s visit to South Korea and Japan that begins later this week, according to the White House. White House national security adviser Jake Sullivan on Wednesday said that the U.S. is preparing for North Korea to conduct a “long range missile test, or a nuclear test or frankly both” in the days leading up to, during, or after Biden’s trip to the region. The president is set to arrive in South Korea on Friday before heading to Japan on Sunday. “We are preparing for all contingencies including the possibility that such a provocation would occur while we’re in Korea or in Japan,” Sullivan said. “We are coordinating closely … [Read more...] about North Korea may conduct missile test as Joe Biden visits Asia: US
Bursa Malaysia ends morning session lower on continued selling
- A + A KUALA LUMPUR (May 19): Bursa Malaysia ended the morning session lower on continued selling in selected heavyweights led by Press Metal Aluminium Holdings Bhd, Public Bank Bhd, and Top Glove Corporation Bhd. Press Metal gave up 20 sen to RM5.08, Public Bank deducted three sen to RM4.58 and Top Glove fell six sen to RM1.47. These three stocks dragged down the composite index by a total contribution of 4.721 points. At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.89 points or 0.25% to 1,551.02 from Wednesday's close of 1,554.91. The benchmark index opened 4.67 points easier at 1,550.24. On the broader market, decliners outnumbered advancers 645 to 217, while 342 counters were unchanged, 1,065 untraded, and 22 others suspended. Turnover stood at 1.6 billion units worth RM1.03 billion. The local bourse’s weak performance was in line with most of its regional peers, with Singapore’s Straits Times erasing 0.41% to 3,212.05, China’s Shanghai … [Read more...] about Bursa Malaysia ends morning session lower on continued selling
North Korea boosts production of drugs, medical supplies to battle Covid-19
Members of the North Korean army supplying medicines to residents at a pharmacy in Pyongyang, North Korea, in this photo released by Kyodo on May 18, 2022. Photo by Kyodo/Reuters - A + A SEOUL (May 19): North Korea is ramping up production of drugs and medical supplies including sterilisers and thermometers as it battles an unprecedented coronavirus outbreak, state media KCNA said on Thursday. The isolated country, which has imposed a nationwide lockdown, is also increasing production of traditional Korean medicines used to reduce fever and pain, KCNA said, calling them "effective in prevention and cure of the malicious disease". A sweeping Covid-19 wave, which North Korea first confirmed last week, has fanned concerns over a lack of medical resources and vaccines, with the UN human rights agency warning of "devastating" consequences for its 25 million people. The outbreak spread after Pyongyang held a massive military parade on April 25 and was expected to … [Read more...] about North Korea boosts production of drugs, medical supplies to battle Covid-19
Wheat Price Spike Fuels Inflation
Wheat prices rose by the maximum amount allowed yesterday after India imposed a ban on exports . Wheat futures in Chicago were up about 6% to $12.47 a bushel, their highest level in two months. Wheat prices have shot up more than 60% this year, driven by disruptions from Russia’s invasion of Ukraine. Those two countries account for almost a third of the world’s wheat exports. India is the world’s second-biggest wheat producer after China, and ranks 8th in terms of exports. India had denied it would halt exports but reversed course over the weekend after domestic inflation surged to the highest level in eight years. Rising fuel and food prices prompted the Bank of India to hike interest rates this month for the first time in four years. The export ban was announced just days after the U.S. Department of Agriculture forecast that global wheat production would drop for the first time in four years this year. The price spike in wheat could increase the costs of a wide range of … [Read more...] about Wheat Price Spike Fuels Inflation
Panama Canal vessel queue reflects shipping bottlenecks
- A + A (May 19): The global shipping bottlenecks rattling industries and consumers in the pandemic era were plain to see for the politicians, economists and investors gathering for a Latin American economic forum in Panama on Wednesday. There were 101 vessels waiting their turn to make the 40-mile journey across the Panama Canal Wednesday, six more than the average so far this year, according to data compiled by Bloomberg. The canal saw record amounts of cargo pass through its locks in its most recent fiscal year as an easing of trade restrictions between China and the US opened up the market for grains, pork and liquefied natural gas. The US$5.25 billion expansion of the passage that opened in 2016 allows larger ships from Asia to more easily reach the East Coast, enabling carriers to bypass lingering logjams at the US’s largest gateways in California. Asian imports into the US West Coast decreased 3.4% in the first quarter from a year earlier, while the number … [Read more...] about Panama Canal vessel queue reflects shipping bottlenecks
Myanmar’s exports up 9.4 per cent in April
YANGON (Xinhua): Myanmar's exports increased 9.4 per cent from a year earlier to over US$1.34 billion between April 1 and May 6, official data showed on Wednesday (May 18). The export growth was led by the rising shipment of agricultural and animal products, minerals, and manufacturing goods, according to the Ministry of Commerce. From April 1 to May 6 this year, Myanmar exported manufacturing goods worth more than $659.57 million, which became the largest export item during the period, the ministry's figures showed. The South-East Asian country exported those goods to China, Thailand, Bangladesh and India, according to the ministry. Myanmar mainly exports agricultural, animal and marine products, minerals, forest products, manufacturing goods and others to its foreign trade partners. … [Read more...] about Myanmar’s exports up 9.4 per cent in April