- A + A TOKYO (May 17): Japan's cabinet has approved a ¥2.7 trillion (US$21 billion) additional budget to help households and firms hit by higher prices, as the government looks to shore up support ahead of a key summer election. The budget is part of a package of measures announced by Prime Minister Fumio Kishida last month that aims to ease the impact of inflation, particularly from rising energy costs amplified by the slide in the yen to two-decade lows. The additional spending comes the day before the government announces growth figures for the first quarter that are expected to show Japan's recovery stalling. Analysts estimate the economy contracted at an annualised pace of 1.8% as consumer spending was battered by the Omicron wave and the renewed activity restrictions that it triggered. With the measures, Kishida is showing his willingness to act promptly to address rising discontent over soaring energy and food prices while demonstrating his desire to … [Read more...] about Japan approves US$21 billion extra budget to ease price pain
Japan booster ebay
Biden to launch Indo-Pacific economic plan in next days in Japan
- A + A (May 17): President Joe Biden will launch a long-awaited economic initiative for increasing US involvement in Asia in the coming days during his trip to the region, according to one of the cabinet officials leading the initiative. The US and its partners will kick off the Indo-Pacific Economic Framework when Biden visits Japan on a May 20-24 trip that also will take him to South Korea, Commerce Secretary Gina Raimondo said. The Commerce Department is leading negotiation of pillars of the framework focused on supply-chain resilience; clean energy, decarbonization and infrastructure; and taxation and anti-corruption. The US Trade Representative’s office is leading the work on fair and resilient trade. The administration also has been working to include digital issues like data localization and cross-border data flows. The IPEF is part of the Biden administration’s efforts to counter China’s clout in Asia, following the US’s withdrawal from talks on the … [Read more...] about Biden to launch Indo-Pacific economic plan in next days in Japan
U.S. FDA authorizes Pfizer COVID-19 booster for children ages 5 to 11
LOS ANGELES, May 17 (Xinhua) -- The U.S. Food and Drug Administration (FDA) on Tuesday granted emergency use authorization for a booster dose of the Pfizer-BioNTech COVID-19 vaccine for children 5 through 11 years of age at least five months after completion of the primary vaccine series. On Jan. 3, the FDA authorized the use of a single booster dose of the Pfizer-BioNTech COVID-19 vaccine for individuals 12 through 15 years of age after completion of primary vaccination. The FDA's decision on Tuesday means anyone ages 5 and older is now eligible for at least one booster dose. "While it has largely been the case that COVID-19 tends to be less severe in children than adults, the Omicron wave has seen more kids getting sick with the disease and being hospitalized, and children may also experience longer term effects, even following initially mild disease," said FDA Commissioner Robert Califf in a statement. "The FDA is authorizing the use of a single booster dose of the … [Read more...] about U.S. FDA authorizes Pfizer COVID-19 booster for children ages 5 to 11
FDA Authorizes COVID-19 Booster Vaccine For Kids Aged 5-11
The Food and Drug Administration (FDA) granted emergency use authorization (EUA) to Pfizer’s booster COVID-19 vaccine dose for kids aged 5-11 Tuesday. The expanded EUA means all Americans who are eligible to get a primary series of the vaccine are now also eligible for a booster shot. The FDA said kids aged 5-11 can get the booster as soon as five months after their second dose of the initial Pfizer vaccine regimen. WASHINGTON (AP) — US authorizes COVID-19 vaccine booster shot for kids ages 5 to 11. Next step: CDC recommendation later this week. — Zeke Miller (@ZekeJMiller) May 17, 2022 Children have faced a far lower risk of severe outcomes from COVID-19 than adults for the entire pandemic, something the FDA acknowledged in its press release about the EUA. Only 359 kids in the 5-11 age group have died with the virus since the pandemic began, according to the Centers for Disease Control and Prevention (CDC) . The CDC also recently determined that a majority of … [Read more...] about FDA Authorizes COVID-19 Booster Vaccine For Kids Aged 5-11
Malaysia secures over RM500m new investment from Ferrotec, says Azmin
Azmin says Nextracker would strive to enhance products from Malaysia to penetrate not only the US market, but also globally. (Photo by Mohd Suhaimi Mohamed Yusuf/The Edge) - A + A SAN FRANCISCO (May 17): Ferrotec (USA) Corporation has committed to investing more than RM500 million in new investment in Malaysia to set up its first manufacturing facility in Southeast Asia. Spanning 8.13 hectares that will include a 800,000 sq ft manufacturing plant in the Kulim Hi-Tech Park, the facility’s construction is expected to begin in the next few weeks. Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the global supplier of materials, components and precision systems and a worldwide leader in quartz material fabrication for the semiconductor industry also committed to generating between 250 and 500 high-skilled jobs for Malaysians. “They are also committed to assisting small and medium enterprises (SMEs) in Malaysia in … [Read more...] about Malaysia secures over RM500m new investment from Ferrotec, says Azmin
Thai AirAsia records average load factor of 73% in Q1
- A + A BANGKOK (May 17): Thai AirAsia Co Ltd (TAA) recorded an average of 73% load factor in the first quarter of 2022 (Q1 2022), following an easing of travel restrictions and the launch of more international routes. In a statement Tuesday (May 17), Asia Aviation Public Co Ltd (AAV), a major shareholder of TAA, said passengers served in Q1 2022 also rose by 48% year-on-year (y-o-y) to 1.45 million, propelling the average fare by 7% y-o-y to 1,018 baht (100 baht=RM12.70) per passenger. It said the cost of sales and services rose in line with the increase in flights, the average fuel price hiked by 61% y-o-y, and selling and administrative expenses increased by 21%, following commission fees and related fees stemming from the company’s fundraising. “Positively, passenger numbers have shown signs of a steady increase for Q2 as the government eases restrictions and entry requirements to sustain international tourist arrivals, allowing TAA to continue to add routes … [Read more...] about Thai AirAsia records average load factor of 73% in Q1
Q1 foreign investment pledges fall to lowest since 2009
MANILA, Philippines—Ahead of the May 9 presidential elections, pledges from foreign investors who wanted to avail themselves of tax and other perks for their forthcoming projects fell 54.1 percent year-on-year to P8.9 billion during the first quarter–also the lowest quarterly haul since the global financial crisis 13 years ago. The latest Philippine Statistics Authority (PSA) data on Tuesday (May 17) showed that commitments approved by the country’s seven investment promotion agencies (IPAs) from January to March dropped from P19.6 billion in the first three months of last year. IPAs give away fiscal incentives to qualified projects. Historical PSA data showed that the first-quarter 2022 foreign investment pledges were the lowest since the P3.9-billion worth generated during the first quarter of 2009, at the height of the 2008-2009 global economic downturn. The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act signed by President Rodrigo Duterte last year … [Read more...] about Q1 foreign investment pledges fall to lowest since 2009
REPORT: Houston Could Hire West Virginia Football Coach Dana Holgorsen
West Virginia football coach Dana Holgorsen might be taking over at the University of Houston. Football Scoop reported the following : Rather than rebuild after two unsatisfactory seasons (by the school’s stated standard), sources said U of H boosters are evaluating all options, including considering bringing in West Virginia head coach Dana Holgorsen to replace Applewhite. Holgorsen was Houston’s offensive coordinator in the 2008-09 seasons, working under head coach Kevin Sumlin, before moving on to Oklahoma State and later WVU, but he kept two important assets behind in Houston — his home, and friendship with U of H superbooster Tilman Fertitta. Other than from a money perspective, this move makes absolutely no sense. It’s not a lateral move. Going from WVU , a Big 12 program, to Houston is a major downgrade. Sure, it sounds like Fertitta is ready to cut a massive check, but Holgorsen already makes over $3.7 million a year. It’s not like he’s hurting for cash … [Read more...] about REPORT: Houston Could Hire West Virginia Football Coach Dana Holgorsen
Billionaire Cheng Family’s New World Buys China Logistics Assets, Sells Aircraft Leasing Firm
Share to Twitter Share to Linkedin NWS Holdings —a unit of New World Development that’s controlled by billionaire Henry Cheng and his family—has agreed to buy six logistics properties in China from Australia’s Goodman Group for 2.29 billion yuan ($338 million) as the Hong Kong-based developer seeks to tap the e-commerce boom, while divesting aircraft leasing firm Goshawk Aviation Ltd. In regulatory filing on Monday, NWS said it and Chow Tai Fook Enterprises, also controlled by the Cheng family, have agreed to sell Goshawk , which owns and manageds over 200 aircraft, to Japan’s SMBC Aviation Capital for a cash consideration of $1.67 billion, valuing the Dublin-based aircraft leasing company at $6.7 billion. “The transaction presents an excellent opportunity for NWS to unlock value for our shareholders and mitigate uncertainties and volatilities caused by macro factors such as changes in interest rates and the Covid-19 pandemic,” Eric Ma, CEO of NWS, … [Read more...] about Billionaire Cheng Family’s New World Buys China Logistics Assets, Sells Aircraft Leasing Firm
SoftBank posts $13 billion loss for FY22 as tech shares plunge across the globe
Source: AFP Japan’s SoftBank Group on May 12 reported a net loss of 1.7 trillion yen ($13 billion) for the fiscal year ended March 31 2022, as the Japanese conglomerate’s listed portfolio companies were hit hard by falling tech valuations across the globe with investors pricing in interest rate hikes and China tightening regulations on the industry. According to Reuters estimates, SoftBank’s Vision Fund investment unit posted a record loss of over 2.97 trillion yen for the Jan-Mar quarter hitting the Japanese investment conglomerate’s profits for the year. The Masayoshi Son-led investment firm had reported a net profit of 4.99 trillion yen ($38 billion) for the previous fiscal year, with the Vision Fund unit clocking a profit of about 4.03 trillion yen. Shares of South Korea’s Coupang Inc and China’s Didi Global, two of SoftBank’s biggest portfolio companies, have plummeted in the Jan-Mar quarter, dragging the Japanese investment conglomerate into losses for the year. … [Read more...] about SoftBank posts $13 billion loss for FY22 as tech shares plunge across the globe