China – Page 10

US military ‘godsend’ to ‘Yolanda’ victims

News

Nov 172013

US military ‘godsend’ to ‘Yolanda’ victims

Residents protect themselves from strong wind created by a US Navy Sea Hawk helicopter from the US aircraft carrier USS George Washington as it takes off upon dropping relief supplies for villagers isolated by last week’s super typhoon Yolanda Saturday Nov.16, 2013 on Manicani island, Eastern Samar. AP ABOARD THE USS GEORGE WASHINGTON — As soon as Navy pilot Matthew Stafford puts his helicopter down in the village of Borongan, he is rushed by dozens of local men who form a line to unload the supplies he has flown in from the USS George Washington aircraft carrier. On the Philippine islands of Leyte and Samar that were shattered by Typhoon Yolanda (international name Haiyan), there is no doubt about it: the US military has been a godsend. “It is awesome to see this,” says one grateful villager. “They are saving us.” Villagers stranded by last week’s Typhoon Yolanda scramble for aid from a US Navy Sea Hawk helicopter from the U.S. aircraft carrier USS George Washington in the coastal town of Tanawan, central Philippines Sunday, Nov. 17. 2013. But while US military support can be critical when disasters like Yolanda strike, staging massive humanitarian relief missions for allies in need isn’t just about being a good neighbor. They can be a strategic and publicity goldmine for US troops whose presence in Asia isn’t always portrayed in such a favorable light — and a powerful warning to countries that aren’t on board. This aerial photo shows the devastation caused by last Read More …

China ready to send medical teams to Philippines

News

Nov 172013

China ready to send medical teams to Philippines

Agence France-Presse 3:25 pm | Sunday, November 17th, 2013 Villagers, isolated by super typhoon Yolanda a week ago, scramble for relief goods being dropped by Philippine Air Force at La Paz, Leyte province in central Philippines, Friday Nov. 15, 2013. AP FILE PHOTO BEIJING, China – China says it is “ready” to send emergency medical personnel to the disaster-hit Philippines after its earlier pledges of financial and material aid were criticized as meager given its economic power. The Chinese government, which has a long-standing territorial dispute with the Philippines, initially offered just $100,000 to help in the aftermath of Super Typhoon Yolanda but raised its offer by a further $1.6 million on Thursday. “In light of the current actual needs of the typhoon-hit areas, the Chinese government is ready to dispatch the emergency medical assistance team on humanitarian grounds,” foreign ministry spokesman Hong Lei said in a statement posted on the ministry’s website Sunday. He added that private groups, including one under the Chinese Red Cross, have also expressed willingness to travel to the Philippines to assist in disaster relief. Hong said the rescue teams would depart “when conditions” allow but did not provide further details on the contingent. China was in close contact with the Philippine government on the provision of medical assistance, he said. Beijing’s offer of aid has been dwarfed by contributions from the US, which is leading the relief effort, Britain and Japan. Questions over the size of Chinese assistance come as Beijing and Manila are Read More …

SM Prime spending P70 B next year

Economy

Nov 082013

MANILA, Philippines – SM Prime Holdings Inc., which will hold most of the property-related assets of tycoon Henry Sy, has set a capital expenditure budget of more than P70 billion next year as it seeks to spur faster growth amid an expanding economy. In an interview, SM Prime Holdings Inc. chief finance officer Jeffrey Lim said the bulk of the capital outlays for next year would go to shopping malls (P38.9 billion) and residential development (P18.8 billion). The total budget for malls includes the P18 billion allocated for the expansion of the group’s operations in China. The group has earmarked P7.2 billion for commercial development (business process outsourcing buildings) and another P4.6 billion for hotels. It has also set aside P797 million for resorts/leisure. SM Prime is opening two new malls next year – SM Cauayan and SM Angonon and the expansion phase of SM Bacolod and SM Lipa. By the end of 2014, SM Prime will have a total of 50 malls with a total estimated gross floor area of 6.6 million square meters. In China, SM Prime SM Prime plans to open one mall per year in second and third tier cities. Slated for opening next year is Zibo, which will provide an additional 154,000 sqm of gross floor area (GFA). Also under construction is SM Tianjin, which will be SM Prime’s largest shopping center when it opens in 2015. It will have a total GFA of 540,000 sqm. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Read More …

Japan trade deficit at record in September

Economy

Oct 202013

Japan trade deficit at record in September

TOKYO — Japan’s trade deficit ballooned to a fresh record for September as costs for imports of food and other necessities outstripped growth in exports. Preliminary customs data Monday show September’s deficit was 932 billion yen ($9.5 billion), the 15th consecutive monthly shortfall. The deficit for April-September rose to nearly 5 trillion yen ($51 billion), also a record for the first half of the fiscal year. Imports rose 16.5 percent in September from a year earlier to 6.90 trillion yen ($70.3 billion), while exports, helped by recoveries in key overseas markets such as the U.S. and EU, climbed 11.5 percent to 5.97 trillion yen ($60.9 billion). The yen has weakened by almost 25 percent against the U.S. dollar in the past year, making Japan’s exports cheaper overseas but also raising costs for imports. Imports of oil and gas accounted for nearly a third of the total but fell 1 percent as oil prices moderated. Imports of soybeans and other food and machinery surged at double-digit rates. Exports were boosted by rising shipments of vehicles, iron and steel, rubber, chemicals and machinery. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The U.S. remained Japan’s largest export destination, at 1.11 trillion yen ($11.3 billion), while imports totaled 665 billion yen ($6.8 billion). The resulting 533 billion yen ($5.4 billion) surplus rose 25 percent from a year earlier. But Japan’s trade deficit with China jumped 87 percent to 620 billion yen ($6.3 billion) as imports of such items as cellphones and solar Read More …

Kerry presses China, neighbors on maritime issues

News

Oct 092013

Kerry presses China, neighbors on maritime issues

Associated Press 3:47 pm | Wednesday, October 9th, 2013 U.S. Secretary of State John Kerry AP PHOTO BANDAR SERI BAGAWAN, Brunei — U.S. Secretary of State John Kerry is in Brunei for meetings with top officials from China and its smaller Southeast Asian neighbors, in which he will urge all countries to cool tensions over territorial disputes in the South China Sea. Kerry will make the case in Wednesday discussions with China’s prime minister and the leaders of the 10 members of the Association of Southeast Asian Nations. U.S. officials said Kerry would call on the Chinese to accept a binding code of conduct to govern maritime behavior until disputes with the ASEAN states are resolved. Kerry is filling in at the summit for President Barack Obama, who had to cancel his participation due to the government shutdown in Washington. One senior official traveling with Kerry said he would he encouraging the ASEAN countries to continue to work “for enhanced coherence and unity” among themselves to bolster their position with China in negotiating a code of conduct. China has bristled at what it sees as U.S. interference in its backyard and has only reluctantly agreed to open consultations with ASEAN on a code of conduct. It has also lobbied some ASEAN members hard to prevent a consensus on the matter. The U.S. weighed in on the issue during Obama’s first term, when Washington announced it had a national security interest in keeping the world’s busiest commercial sea lanes open and Read More …

With Obama out, other leaders take APEC main stage

News

Oct 072013

With Obama out, other leaders take APEC main stage

BALI — Japanese Prime Minister Shinzo Abe and other Asia-Pacific leaders took center stage Monday at a regional summit after President Barack Obama was a no-show due to the U.S. government shutdown. Leaders of the Asia-Pacific Economic Cooperation forum, meeting amid tight security on this tropical island in eastern Indonesia, urged faster work on reforms meant to break down trade barriers and improve competitiveness. But their summit meetings aren’t all work and there are some light moments. Indonesian President Susilo Bambang Yudhoyono took the chance to pick up a guitar and sing his Russian counterpart, Vladimir Putin, a happy 61st birthday. Abe, struggling to extricate Japan from two decades of stagnation, pledged to move ahead with reforms he has promised as part of his “Abenomics” economic strategy. “It’s not easy for a country stuck in deflation for 15 years to get out,” Abe said. He promised measures to ensure that an increase in Japan’s sales tax, which has driven consumer confidence to record lows, does not derail the economic recovery he has nurtured since taking office last December. “Now we can wipe out the doom and gloom atmosphere in the Japanese economy,” Abe said. Speaking to a gathering of business and political leaders, he also sought to reassure other Asian countries, especially those that suffered colonization and invasion before and during World War II, over Japan’s efforts to upgrade its military. “We are aspiring to become a pro-active contributor to stability and security in the world as a country that Read More …

China evacuates 417,000 people ahead of typhoon

News

Oct 062013

China evacuates 417,000 people ahead of typhoon

Associated Press 6:28 pm | Sunday, October 6th, 2013 Huge wave hits the dike as Typhoon Fitow moves to make its landfall in Wenling, east China’s Zhejiang province on October 6, 2013. AFP Photo BEIJING — Hundreds of thousands of people in southeast China were evacuated and fishing vessels called back to shore on Sunday because of an approaching typhoon, authorities said. Typhoon Fitow is expected to make landfall early Monday between Zhejiang and Fujian provinces, according to the National Meteorological Center. Provincial authorities said that by noon Sunday more than 65,000 boats had returned to port or moved to safer areas. Zhejiang’s provincial government said 289,000 people had been evacuated from fishing boats and coastal areas. Fujian’s government said 128,000 boat workers and dwellers had been evacuated, including 7,000 elderly people and children who were on fishing rafts. The typhoon will bring heavy or torrential rain to five provinces, Shanghai and Taiwan over the next three days, the meteorological center said. Some coastal areas may see rainfall of 250 millimeters (9.84 inches), it said. Another typhoon was blowing east of the northernmost Philippine province of Batanes on Sunday with sustained winds of 130 kilometers (81 miles) per hour and gusts of 160 kph (100 mph), but was too far out in the ocean to affect any part of the country. Typhoon Danas may blow toward southern Japan later this week if it does not change direction, according to the Philippine weather agency. RELATED STORY: Typhoon ‘Ramil’ enters PH Follow Read More …

No Obama? No problem

News

Oct 052013

President Barack Obama. AP FILE PHOTO Malacañang on Saturday played down the absence of US President Barack Obama from two key regional meetings—the Asia-Pacific Economic Cooperation (Apec) forum in Bali, Indonesia on Monday and Tuesday and the East Asia Summit in Brunei on Wednesday and Thursday—to be attended by the region’s leaders, including President Benigno Aquino III. “I don’t think the Philippine objectives, which are a peaceful and rules-based resolution to [its territorial dispute with China], are going to be affected greatly by the absence of President Obama at one or two meetings,” Communications Secretary Ricky Carandang told journalists here. “Certainly, his presence here is welcome but this is a long game and if President Obama is not present in one or two meetings, then that’s not going to have an impact on our position,” Carandang said. Obama scrapped his attendance in the two meetings and visits to the Philippines and Malaysia this week because of the partial shutdown of the US government, forced by deadlock between the Democrats and the Republicans in Congress on the budget. US Secretary of State John Kerry is attending the two summits and visiting Manila and Kuala Lumpur in Obama’s place. Good for China But without Obama, the largest presence in the room at the two meetings will be that of China’s leader, Xi Jinping, who is already in the region visiting Malaysia and Indonesia to boost Beijing’s reputation after straining its relations with the Philippines and Vietnam over territorial disputes in the West Read More …

No escaping China for Aquino, Obama

News

Sep 292013

US President Barack Obama (right) and President Aquino: China on the agenda. MALACAÑANG PHOTO MANILA, Philippines—Defense cooperation, including China’s incursions into Philippine territory, will top the agenda of President Aquino’s meeting with US President Barack Obama during the latter’s two-day visit to the country next month. In a radio interview, Ricky Carandang, head of the Presidential Communications Development and Strategic Planning Group, said Aquino and Obama will talk at length on defense cooperation, specifically the “rotational presence” of US troops in the country. The meeting will be held on either Oct. 11 or 12. “Whether or not we will sign something during the Obama visit is not something I can answer at this point. What I can assure our countrymen is that these discussions with the US will lead to enhanced security for the Philippines and that’s why we’re entering into these discussions,” Carandang said. With the pivot of the United States toward East Asia, “our ties will continue to grow stronger,” he added. Carandang said the talks would likely touch on China’s undiplomatic efforts to expand its maritime borders in the South China Sea, including into portions of the West Philippine Sea. “I think we cannot avoid talking about this (territorial dispute with China) because that is part of the context of our action to enhance our maritime security. This is one of the biggest issues concerning not only the Philippines, but also Vietnam, Malaysia, Indonesia, Brunei and Japan,” Carandang said. The Philippines and the United States are currently Read More …

Yahoo, Softbank back Chinese e-commerce giant Alibaba in fallout over failed Hong Kong IPO

Economy

Sep 272013

Yahoo, Softbank back Chinese e-commerce giant Alibaba in fallout over failed Hong Kong IPO

A group of men walk past the corporate logo at the headquarters compound of Alibaba Group in Hangzhou in eastern China’s Zhejiang province.(AP Photo) HONG KONG — Chinese e-commerce giant Alibaba’s biggest shareholders, Yahoo and Japan’s Softbank Corp., on Friday backed the company’s unusual management structure that Hong Kong’s stock exchange was unwilling to accommodate, forcing it to look to the U.S. for a potentially mammoth IPO. The show of support came a day after a senior Alibaba Group executive sharply criticized the southern Chinese city’s stock exchange for being too inflexible in discussions about a share sale that had been expected to raise up to $15 billion. The company broke off talks for a Hong Kong initial public offering because the stock market wasn’t willing to make an exception to its listing rules. Instead, it’s looking to New York for an initial public offering that analysts estimate could value the company at more than $100 billion. That would dwarf the tech world’s other hotly anticipated share offering by Twitter, which is estimated to have a market value of $10 billion. In a column posted late Thursday on Alibaba’s blog, Vice Chairman Joe Tsai said “Hong Kong must consider what is needed in order to adapt to future trends and changes.” Tsai said the company had ended its discussions for a potential listing. It’s the first public acknowledgement that it has dropped its plans for an IPO in Hong Kong, which Tsai said was the company’s “first choice” because most Read More …

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