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☆ Australia's Albanese, Japan's Kishida meet for defence, energy talks
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +2 min

Oct 22 (Reuters) - Australian Prime Minister Anthony Albanese met with his Japanese counterpart Fumio Kishida on Saturday for talks expected to cover defence and energy deals amid China's push for greater influence in the Asia-Pacific region. The summit is the fourth for the leaders, since Albanese took office in May. Locating the meeting in Perth, 3,700 km (2,300 miles) from the national capital Canberra, was meant to showcase Western Australia's importance in supplying Japan's energy needs, including renewable energy. In May, Kishida and Albanese pledged to work toward a new bilateral declaration on security cooperation. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sam McKeith in Sydney; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Energy and security on agenda when Australia, Japan leaders meet
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +3 min

Japan's Prime Minister Fumio Kishida delivers a policy speech during an extraordinary session at the lower house of parliament in Tokyo, Japan October 3, 2022. "Australia is the most important country for Japan's energy policy," Kishida told reporters in Tokyo on Friday before boarding a plane for Perth. Australia and Japan are also expected to sign a new security cooperation agreement, updating a pact struck in 2007, to respond to a significantly altered regional security environment, officials said. "As Australia seeks to become a clean energy superpower, we will remain a steady and reliable supplier of energy to Japan including for new energy sources like hydrogen," Albanese said in a statement this week. Australia and Japan are also members of the Quad group of nations, with the United States and India.

☆ China, 'factory of the world,' is losing more of its manufacturing and export dominance, latest data shows
▼ + stars: | 2022-10-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The container ship Emma Mærsk docked at the Dapukou container terminal of Ningbo-Zhoushan Port on August 21, 2022 in Zhoushan, Zhejiang Province. Teodoro said Vietnam's close proximity to China and cheap labor are reasons why Vietnam is considered a suitable alternative. Vietnam has taken the lion's share of the manufacturing trade away from China with an almost 360% increase in far-distance trade since 2014 — the year the country started to invest in its maritime and manufacturing sector. Malaysia and Bangladesh have taken apparel manufacturing away from China, according to MDS Transmodal, while Taiwan has seen a marginal uptick in metal manufacturing. Ningbo port hit by Covid policiesThe Port of Ningbo, the world's largest port and the third-largest container port, is the latest Chinese trade hub to see an impact from the government's "Zero Covid" policies.

Arkhom Termpittayapaisith in an interview with Reuters said that a weak baht was helping exports, which should grow 8% this year, and tourism. Arkhom said the Bank of Thailand (BOT)'s headline inflation target range of 1%-3% was still appropriate, despite consumer prices still exceeding the target. Last year's economic growth of 1.5% was among the slowest in the region, but the April-June period saw expansion of 2.5% from a year earlier and 0.7% from the previous quarter. Arkhom said third-quarter economic growth should be faster as more foreign tourists returned. Last month, the BOT raised its key interest rate for a second straight meeting, by a quarter point to 1.00%.

Mental health as a spectrumChew said he was inspired to try to popularize mental healthcare after battling a panic attack when he was 16 years old. Justin Kim, CEO and co-founder of Ami, another digital mental healthcare start-up based in Singapore and Jakarta, agreed that there’s a need to scale mental health offerings. Alistair Carmichael, an associate partner at McKinsey & Company, said employers will benefit from better mental health in their workforce. “Mental health has long had a stigma across Asia, whereby traditionally we’ve seen it as a clinical issue, a crisis,” he said. “We see mental health just as important as physical health.

Netflix added 2.4 million new subscribers in its most recent quarter, topping expectations that it would add 1 million. According to a Wedbush survey of Netflix users, he said, people most likely to opt into the ad-supported tier are those who would have otherwise quit the platform. Netflix has also foreshadowed a crackdown on password sharing, with plans to launch a paid family offering next year. Netflix estimates 100 million households worldwide are using shared passwords — 30 million of them in North America. On Monday, it introduced a “Profile Transfer” feature designed to let users who may be sharing a subscription opt into new a Netflix membership.

☆ U.S. Treasury's Adeyemo heads to APEC meeting with focus on trade, 'resilience'
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Adeyemo, who has led work on U.S. sanctions over Russia's invasion of Ukraine, will represent the United States when the Asian Economic Cooperation (APEC) finance ministers meet in Bangkok on Wednesday and Thursday, Treasury said. He will also meet with Thailand's Finance Minister Arkhom Termpittayapaisith. The newly relaunched G7 Partnership for Global Infrastructure and Investment (PGII) and U.S. efforts to build up supply chains with trusted partners were also on the agenda. "While the U.S. economy remains resilient in the face of these headwinds, the Deputy Secretary will work with partners to increase resilience in their economies," it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Retailers, Brands and Tech Platforms Bet Big on Live-Streamed Shopping in the U.S.
▼ + stars: | 2022-10-18 | by ( Patrick Coffee | Photographs Maggie Shannon For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Can live-streamed shopping become a big thing in the U.S.? A number of retailers, brands and tech platforms are convinced that it can, despite a slow start. The practice, which adapts the QVC model of televised home shopping to the digital era, grew popular in the Asia-Pacific region before exploding in China during the pandemic as businesses rushed to connect more directly with homebound consumers.

☆ Netflix adds more than 2.4 million subscribers, reveals details about password-sharing crackdown
▼ + stars: | 2022-10-18 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

The streamer also reported the addition of 2.41 million net global subscribers, more than doubling the adds the company had projected a quarter ago. Revenue: $7.93 billion vs $7.837 billion, according to Refinitiv survey. $7.93 billion vs $7.837 billion, according to Refinitiv survey. Expected global paid net subscribers: Addition of 2.41 million subscribers vs. an addition of 1.09 million subscribers, according to StreetAccount estimates. The majority of Netflix's net subscriber growth during the quarter came from the Asia Pacific region, which accounted for 1.43 million subscribers.

☆ Russia's attack on Ukraine shows that the US and Europe have to relearn how to fight an industrial war
▼ + stars: | 2022-10-18 | by ( Alexander Clarkson | World Politics Review | ) www.businessinsider.com time to read: +11 min

The military effort to support Ukraine shows how US and European defense priorities have been distorted. The war is a reminder that the US and Europe must fundamentally reassess how they prepare for war. The military responses Western states formulated toward these perceived threats were shaped by wider neoliberal policy approaches shaped by the impact of globalization. This greater reliance on private-sector actors to develop and administer key military functions also reflected a period of tightening defense budgets. An airman secures a GBU-38 Joint Direct Attack Munition on an aircraft at Barksdale Air Force Base in August 2014.

☆ The world's busiest international flight route carried more than 3.2 million passengers in the last year. See which other routes made the top 10.
▼ + stars: | 2022-10-14 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

Cairo International Airport, Egypt to Riyadh King Khalid International Airport, Saudi ArabiaSeats: 1,913,9918. Mumbai International Airport, India to Dubai International Airport, UAESeats: 1,977,5377. Orlando International Airport, USA to San Juan Luis Munoz Marin International Airport, Puerto RicoSeats: 2,099,2346. Kuala Lumpur International Airport, Malaysia to Singapore Changi AirportSeats: 2,443,176Dubai International Airport, UAE to London Heathrow Airport, UKSeats: 2,697,5933. Dubai International Airport, UAE to Riyadh King Khalid International Airport, Saudi ArabiaSeats: 3,191,0901.

☆ U.S. grants Philippines $100 million in foreign military financing
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

ABOARD USS RONALD REAGAN, Oct 14 (Reuters) - The United States has made available $100 million in foreign military financing to the Philippines, its ambassador in Manila said on Friday, part of efforts to boost the Southeast Asian country's defence capabilities and military modernisation. The new military financing underscores improved defence ties between the treaty allies under President Ferdinand Marcos Jr, whose predecessor, Rodrigo Duterte, shifted his country's foreign policy away from the United States to pursue warmer ties with China. "The United States has now made available $100 million in foreign military financing in part for the Philippine military to use as it wishes," Ambassador MaryKay Carlson told a media briefing aboard the USS Ronald Reagan, which was on a scheduled port call in Manila. Manila is looking to buy heavy-lift Chinook helicopters from the United States. The amount includes $475.3 million worth of foreign military financing to Philippines, among the biggest in Southeast Asia.

☆ European stocks head for lower open as investors brace themselves for U.S. inflation data
▼ + stars: | 2022-10-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a lower open on Thursday as investors around the world prepare themselves for the latest U.S. inflation data. The negative open in Europe comes amid mixed global sentiment ahead of the latest U.S. inflation reading. U.S. stock futures were up slightly overnight while markets in the Asia-Pacific region were mixed as investors await the data. A rise in the consumer price index would also follow producer price data that came in higher than expected, data showed on Wednesday. The U.S.' producer price index, a gauge of final-demand wholesale prices, was up 0.4% in September, more than the consensus estimate of a 0.2% increase, according to Dow Jones.

☆ Deutsche Bank names ex-Credit Suisse banker as new APAC head of private bank
▼ + stars: | 2022-10-12 | by ( Xinghui Kok | ) www.reuters.com time to read: +1 min

The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland October 4, 2022. REUTERS/Arnd WiegmannSINGAPORE, Oct 12 (Reuters) - Deutsche Bank (DBKGn.DE) said on Wednesday it was replacing its Asia Pacific head of international private banking with a senior hire from embattled Swiss bank Credit Suisse (CSGN.S). Singapore-based Jin Yee Young, who resigned from her role as the deputy head of Credit Suisse's Asia Pacific wealth management business, was appointed as the Asia Pacific head of the German lender's international private bank. read moreThe veteran banker's appointment comes into effect from January, Deutsche Bank said in a statement. "Wealth management continues to be a cornerstone of our offering for clients in the Asia Pacific region, and a critical growth driver for our platform," said Alexander von zur Muehlen, Deutsche Bank's Asia Pacific CEO.

☆ Asia-Pacific airline traffic recovery to accelerate as rules ease -IATA
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Oct 11 (Reuters) - Passenger airline traffic in the Asia-Pacific region should recover to around 73% of 2019 levels by year-end as travel restrictions relax, up from 53% in August, the Asia-Pacific head of airline industry group IATA said on Tuesday. "There is no mistaking I think the momentum is very strong especially with all major markets in the Asia-Pacific now open except for China," IATA Regional Vice President, Asia Pacific, Philip Goh told reporters on a webinar. Register now for FREE unlimited access to Reuters.com RegisterThe year-end traffic estimate is based on China opening its borders soon, though the actual date remains unclear, Goh said. International passenger traffic in the region was at 35% of 2019 levels in August, according to IATA, which estimates it will take until 2025 to reach pre-pandemic levels. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jamie Freed; Editing by Tom Hogue, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Based on U.S. export inspection data, the United States exported roughly 145 million tonnes of grain and oilseeds in calendar year 2021. In 2021, some 42% of October-December soybean shipments to China left from the U.S. Gulf versus 52% from Pacific ports, though the Gulf share was 58% in 2020. Through 29 days of September, soybean sales to all destinations of 3.1 million tonnes were an 11-year low for the month. About two-thirds of all U.S. grain shipments to Mexico are shipped via interior methods such as rail, but the other third relies on the Gulf. Interior exports accounted for 14% of all U.S. grain and oilseeds last year, third behind the Gulf and Pacific regions.

☆ U.S. stock market is taking hits, but we’re still doing better than the rest of the world
▼ + stars: | 2022-10-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +1 min

The U.S. stock market may be down 21% this year, but it's far better than most of the rest of the world. The U.S. stock market, which has been outperforming most other markets for a long time, is continuing to increase its market share of global equities. That 66%, Hartnett says, is an all-time high. Hartnett notes that Tesla's market cap, at roughly $750 billion, is now the same as the entire European banking sector. U.S. stock market: king of the hill (by market capitalization) U.S.: 60.3% Japan 5.4% China 4.1% UK 3.9% Canada 3.2% France 2.7% Switzerland 2.5% Australia 1.9% Germany 1.9% Taiwan 1.6% Other 12.2%

"U.S. prosperity and security depend on the Pacific region remaining free and open," it said, noting that Pacific island countries faced urgent challenges, most notably from the climate crisis, but also heightened geopolitical tensions. Leaders and representatives from 14 Pacific island states are taking part in the summit. read moreThe official also said Biden would designate career diplomat Frankie Reed as the first U.S. envoy to the Pacific Islands Forum. The U.S. strategy document says the United States would partner with Pacific islands to help them adapt to and manage the climate crisis, an "existential threat" to their lives, health, and livelihoods. Strategic competition in the Pacific intensified dramatically this year after China signed a security agreement with the Solomons, prompting warnings of militarization of the region.

☆ New Foreign Secretary Cleverly says UK's strategic shift to Indo-Pacific is 'permanent'
▼ + stars: | 2022-09-29 | by ( Ted Kemp | ) www.cnbc.com time to read: +1 min

SINGAPORE — The United Kingdom will commit itself more fully to the Indo-Pacific region, beyond its ongoing efforts to join a massive trade deal in the region, the country's new foreign secretary said Thursday. "The Indo-Pacific tilt is here to stay," James Cleverly said at the Milken Institute Asia Summit. That "tilt" toward the Indo-Pacific will include further cooperation on economic issues, security matters and "shared values," Cleverly said. Cleverly said that 1.7 million British citizens live in the region, and the United Kingdom has trade relationships worth $250 billion in the Indo-Pacific. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, is a trade pact that currently includes seven countries in Asia-Pacific and four in the Americas.

☆ Russia Expels Japanese Diplomat for Alleged Espionage
▼ + stars: | 2022-09-27 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

Japanese Foreign Minister Yoshimasa Hayashi said Tokyo was informed on Monday that one of its diplomats had been declared ‘persona non grata’ by Russia. TOKYO—Japan said one of its diplomats was blindfolded and tied up by Russian authorities in the city of Vladivostok before being interrogated and then given 48 hours to leave the country. Russia’s Federal Security Service said the diplomat, which it named as Consul Tatsunori Motoki, was caught on Monday paying for classified information about Moscow’s cooperation with a country in the Asia-Pacific region, according to a statement published by the state news agency TASS.

☆ This young Black designer is dressing Afro Colombian vice president Francia Márquez in ‘resistance’ fashion
▼ + stars: | 2022-09-27 | by ( ) www.nbcnews.com time to read: +1 min

BOGOTÁ — Esteban Sinisterra, a young Black fashion designer from Colombia’s largely-poor Pacific region, is dressing Vice-President Francia Márquez — the first Afro-Colombian woman to hold the post — in what he calls “resistance” fashion. His background has commonalities with Márquez, a former housekeeper and environmental activist, who grew up in the poor municipality of Suárez, in Cauca province, and faced death threats for her opposition to gold mining. Colombia's Vice President Francia Marquez speaks in Bogota on Aug. 18, 2022. “Each and every one of Francia’s outfits evokes that,” Sinisterra said. Follow NBC Latino on Facebook, Twitter and Instagram.

☆ World Bank cuts 2022 East Asia growth outlook, cites China slowdown
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/MANILA, Sept 27 (Reuters) - Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China's slowdown, but the pace of expansion will pick up next year, the World Bank said on Tuesday. "As they prepare for slowing global growth, countries should address domestic policy distortions that are an impediment to longer term development," World Bank East Asia and Pacific Vice President Manuela Ferro in a statement. These have caused capital outflows and currency depreciations, the World Bank said. "Controls and subsidies muddy price signals and hurt productivity," World Bank East Asia and Pacific Economist Aaditya Mattoo, said in a statement.

☆ Russia blindfolded and restrained a Japanese diplomat it accused of being a spy, Japan says
▼ + stars: | 2022-09-27 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Russia said it detained a Japanese diplomat in the city of Vladivostok. Russia's FSB said the official was detained on suspicion of espionage. Tokyo said it the official was mistreated, in violation of international rules. Matsuno said Japan would demand a formal apology from Moscow, and the official would leave Russia by Wednesday, having been expelled by Russian authorities. Russia and Japan are regional rivals, and relations have worsened since Japan took the side of the US and other western nations in condemning the Russian invasion of Ukraine and imposing economic sanctions.

☆ Young Black designer dresses Colombian vice-president in 'resistance' fashion
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Esteban Sinisterra, 23, a fashion designer who dresses Colombian Vice President Francia Marquez, poses for a photograph at his studio in Cali, Colombia September 7, 2022. REUTERS/Jair CollBOGOTA, Sept 26 (Reuters) - Esteban Sinisterra, a young Black fashion designer from Colombia's largely-poor Pacific region, is dressing Vice-President Francia Marquez - the first Afro-Colombian woman to hold the post - in what he calls "resistance" fashion. "Each and every one of Francia's outfits evokes that," Sinisterra said. "It is being able to show that this is who we are...so for me fashion, my fashion, is resistance." Register now for FREE unlimited access to Reuters.com RegisterReporting by Jair Fernando Coll, Writing by Julia Symmes Cobb, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Solomons 'unfairly targeted' since recognizing China, its president tells U.N.
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

Solomon Islands Prime Minister Manasseh Sogavare addresses the 72nd United Nations General Assembly at U.N. headquarters in New York, U.S., September 22, 2017. In an address to the United Nations General Assembly in New York, Manasseh Damukana Sogavare said the Solomons had been "unfairly targeted" and "vilified" in the media. The Pacific islands region has become a new theater of geopolitical competition between China and the United States and its allies. This competition intensified this year after China signed a security agreement with the Solomon Islands, prompting warnings of a militarization of the region. read moreSogavare has since repeatedly appeared to snub the United States, heightening Washington's concerns.

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