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China’s big GDP miss in Q2 may be the bad news needed to spur more policy support 15-July-2022 The...
Kusu News 31-Jan-2022
Lunar New Year 2022: Celebrations for Year of the Tiger are muted — but bring hope
31-Jan-2022 AP
People across Asia prepared Monday for muted Lunar New Year celebrations amid concerns over the coronavirus and virulent omicron variant, but were looking ahead with hope that the region's high vaccination rates might bring life closer to normal in the coming year
The Lunar New Year is the most important annual holiday in China and falls on Tuesday, Feb. 1. Each year is named after one of twelve signs of the Chinese zodiac in a repeating cycle. The Year of the Tiger follows the Year of the Ox.
This will be the third new year in a row celebrated in the shadow of the pandemic. It was two days before the holiday in 2020 that China locked down Wuhan — a city of 11 million people — following the detection of the coronavirus there.
Some 85% of Chinese are now fully vaccinated, according to Our World in Data, and more Chinese have been traveling domestically this year, despite government warnings. Many people prepare to celebrate by buying red lanterns and other decorations for their homes, and food to mark the beginning of a new year.
Nusantara Gets the Nod as Indonesia Names Its New Capital City
Construction of the new capital is to begin this year with an eye-watering budget of $35 billion.
18-Jan-2022 The Diplomat
Indonesian President Joko “Jokowi” Widodo has ended more than two years of speculation and announced that the name of his country’s new capital in Kalimantan will be Nusantara, an appropriate choice given the history of the region.
“Nusantaria” was a name that denoted much of Southeast Asia when it was little more than isolated sea-faring ports and sultanates dictated by trade winds as opposed to nation-states and the sovereign borders that make-up Indonesia and the ASEAN of today.
As a name it enjoyed something of a resurgence with the publication of “Empire of the Winds: The Global Role of Asia’s Great Archipelago,” by Philip Bowring in March 2019, and was then mooted in this column as a potential name for the new capital when Jokowi announced its construction would go ahead five months later.
Jokowi’s critics, who argued the new capital was simply a legacy project, had cheekily suggested “Saint Jokoberg” and “Jokograd,” while the more cerebral suggested “Mandalanusa” which loosely translates as “center of the archipelago” and was favored by many.
Indonesian economy appears set for strong growth as commodity prices surge
18-Jan-2022 Intellasia | StraitsTimes
Bolstered by the commodities boom, Indonesia’s economy appears set for a rapid growth rebound in 2022 as a significant decline in Covid-19 cases and deaths prompts easing of social restrictions and the reopening of borders.
The country remains the world’s largest exporter of thermal coal and crude palm oil, and the prices of both surged in 2021. It is also the world’s second-largest rubber exporter. Rich in natural resources, Indonesia also surprised observers with about $20 billion (S$27 billion) worth of iron and steel exports, roughly matching the amount for palm oil.
“We are optimistic we will grow 5 per cent this year. If everything runs smoother, (the economic growth) could be more than 5 per cent,” Coordinating minister for Maritime and Investment Affairs Luhut Pandjaitan, a close aide to President Joko Widodo, told The Straits Times on Wednesday (January 12).
The World Bank’s latest Global Economic Prospects report released on Tuesday forecast that Indonesia’s growth was expected to rebound to 5.2 per cent in 2022, supported by stronger
domestic demand and elevated commodity prices. Growth was expected to reach 5.1 per cent in 2023, the bank said.
How another Marcos could win power in the Philippines
31-Jan-2022 Intellasia | Bloomberg |
Millions of people took to the streets in the Philippines to force President Ferdinand Marcos from office in 1986 after a two decade reign in which thousands were killed under martial law, the economy contracted and government coffers were plundered infamously symbolised by his wife Imelda’s extravagant shoe collection. Lately, however, the family has seen a resurgence in popularity, much of it driven by social media. Scion Ferdinand “Bongbong” Marcos Jr. has been the front-runner to succeed another strongman, Rodrigo Duterte, as president in this year’s May 9 election. Yet the Marcos candidacy has also reopened some old wounds and he could still be disqualified.
- Who is Bongbong Marcos?
Bongbong, 64, is the only son of the former first couple. While in his 20s he was already governor in their home province of Ilocos Norte, about 440 kilometers (273 miles) north of Manila. He fled to the US with the family after his father was ousted. The Marcoses returned to the Philippines in 1991, two years after the patriarch’s death. Bongbong won a congressional seat a year later, then became governor again. He lost his first attempt for a position elected nationwide a 1995 race for the Senate but won a seat in 2010. With his term ending, he ran in 2016 for vice president, narrowly lost to Leni Robredo, then unsuccessfully protested the results. His resume has also caused a stir: His Senate profile initially stated that he had an Oxford degree in philosophy, politics and economics. Critics said he had a special diploma that fell short of an actual degree. In October, the University of Oxford waded in, saying that Marcos didn’t complete his degree. The website has been amended
Formula One Singapore race renewed for another 7 years, from 2022 to 2028
27-Jan-2022 yahoo News
The Formula One Singapore Grand Prix will continue to be held in the city-state for another seven years.
The Singapore Tourism Board (STB), Singapore GP (SGP) and F1 announced in a joint media release on Thursday (27 January) that Singapore will continue to host the motor-racing extravaganza as part of the FIA Formula One World Championship from 2022 to 2028.
This is the fourth contract renewal for Singapore, and the seven-year extension is the longest for the race to date.
The stakeholders said in the media release that this will give Singapore a longer runway to capture pent-up demand as international travel recovers. It also allows STB, SGP and industry partners to develop new experiences to meet the evolving interests of locals and visitors.
S Iswaran, Minister for Transport and Minister-in-charge of Trade Relations, said the Singapore F1 race continues to be a strong focal point for tourists, global events and business meetings.
“We have decided to continue hosting the F1 race for another seven years, after thoroughly evaluating the long-term benefits that a term extension could bring to Singapore," he said in the media release.
