Yamato

https://en.m.wikipedia.org/wiki/Rotating_detonation_engine

Attacks had begun, liberation of Taiwan cannot be stopped. “REPENT TAIWAN “ https://www.reuters.com/world/asia-pacific/suspected-drones-over-taiwan-cyber-attacks-after-pelosi-visit-2022-08-04/ Suspected drones over Taiwan, cyber attacks after Pelosi visit By Yimou Lee - Suspected drones fly over outlying Taiwanese islands - Defence ministry says its website attacked, briefly offline - Chinese military exercises, involving live-fire, set to begin - China says it's an internal affair TAIPEI, Aug 4 (Reuters) - Suspected drones flew over outlying Taiwanese islands and hackers attacked its defence ministry website, authorities in Taipei said on Thursday, a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi that outraged China. China was to begin a series of military exercises around Taiwan on Thursday in response to Pelosi's visit, some of which were to take place within the island's 12-nautical-mile sea and air territory, according to the defence ministry in Taipei. That has never happened before and a senior ministry official described the potential move as "amounting to a sea and air blockade of Taiwan". China, which claims Taiwan as its own territory, said on Thursday its differences with the self-ruled island were an internal affair. read more "Our punishment of pro-Taiwan independence diehards, external forces is reasonable, lawful," China's Taiwan Affairs Office said. China's Xinhua news agency has said the exercises, involving live fire drills, will take place in six areas which ring Taiwan and will begin at 0400 GMT. On Wednesday night, just hours after Pelosi left for South Korea, unidentified aircraft, probably drones, had flown above the area of the Kinmen islands, Taiwan's defence ministry said. read more Major General Chang Zone-sung of the army's Kinmen Defense Command told Reuters that the drones came in a pair and flew into the Kinmen area twice on Wednesday night, at around 9 p.m. (1300 GMT). and 10 p.m. "We immediately fired flares to issue warnings and to drive them away. After that, they turned around. They came into our restricted area and that's why we dispersed them," he said. The heavily fortified Kinmen islands are just off the southeastern coast of China, near the city of Xiamen. The defence ministry also said its website suffered cyber attacks and went offline temporarily late on Wednesday night, adding it was working closely with other authorities to enhance cyber security as tensions with China rise. Pelosi, the highest-level U.S. visitor to Taiwan in 25 years, praised its democracy and pledged American solidarity during her brief stopover, adding that Chinese anger could not stop world leaders from travelling there. China summoned the U.S. ambassador in Beijing and halted several agricultural imports from Taiwan. Security in the area around the U.S. Embassy in Beijing remained unusually tight on Thursday as it has been throughout this week. Although Chinese social media users have vented fury on Pelosi, there were no signs of significant protests or calls to boycott U.S. products. 'WILL NOT ABANDON TAIWAN' Taiwan scrambled jets on Wednesday to warn away 27 Chinese aircraft in its air defence zone, the island's defence ministry said, adding that 22 of them crossed the median line separating the island from China. read more Pelosi arrived with a congressional delegation on her unannounced but closely watched visit late on Tuesday, defying China's repeated warnings and amid sharply deteriorating U.S.-Chinese relations. "Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan," Pelosi told Taiwan's President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more "Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today." China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States and the foreign ministers of the Group of Seven nations warned China against using the visit as a pretext for military action against Taiwan. "Sadly, Taiwan has been prevented from participating in global meetings, most recently the World Health Organization, because of objections by the Chinese Communist Party," Pelosi said in statement issued after her departure. "While they may prevent Taiwan from sending its leaders to global forums, they cannot prevent world leaders or anyone from travelling to Taiwan to pay respect to its flourishing democracy, to highlight its many successes and to reaffirm our commitment to continued collaboration," Pelosi added.

This is what happened to Xi Jinping and his PLA when they bark too loud and too much

Today

Hooray finally Taiwan will be liberated from the imperialists! Go CCP go! https://www.bloomberg.com/news/articles/2022-08-02/china-announces-military-drills-encircling-taiwan-from-aug-4-7-l6cc5ljn China Plans Four Days of Military Drills in Areas Encircling Taiwan - Beijing declares provocative show of force after Pelosi lands - Taiwan’s ruling party calls on China to be ‘responsible power’ By Sarah Zheng, 2 August 2022 at 22:29 GMT+7Updated on3 August 2022 at 00:12 GMT+7 China will conduct large-scale military drills and missile tests around Taiwan in a defiant show of force after House speaker Nancy Pelosi became the highest-ranking US politician to land on the island in a quarter century. Beijing announced six exclusion zones encircling Taiwan to facilitate live-fire military drills from Thursday to Sunday, with some of the areas crossing into the island’s territorial waters. The size and scope of the areas could set the stage for the Chinese military’s most provocative actions near Taiwan in decades. US House Speaker Nancy Pelosi Arrives In Taipei An aircraft carrying US House Speaker Nancy Pelosi arrives in Taipei, Aug. 2. Photographer: Lam Yik Fei/Bloomberg Separately, the People’s Liberation Army said exercises could start as soon as Tuesday, leaving open the possibility of military activities around Taiwan while Pelosi was visiting. The operations include “long-range live firing in the Taiwan Strait” and “regular-guided fire testing in the eastern waters” off Taiwan from Tuesday evening, the PLA said. “This action is targeted at the US’s shocking recent major escalation on the Taiwan issue, and serves as a serious warning to Taiwanese independence forces or those seeking independence,” Shi Yi, a spokesperson for the Eastern Theater Command, said in a statement. A map released by the Xinhua news agency in China details areas that will be used for military drills encircling Taiwan from Aug. 4-7. Source: Xinhua. During the military drills, “relevant ships and aircraft should not enter the above sea areas and airspaces during this period,” the official Xinhua News Agency said in a report late Tuesday, which gave coordinates for the exercises. The exercises highlight the risk that Taiwan tensions could exacerbate existing supply chain woes. The Taiwan Strait is the primary route for ships passing from China, Japan, South Korea and Taiwan to points west. Almost half of the global container fleet and 88% of the world’s largest ships by tonnage passed through the waterway this year, according to data compiled by Bloomberg. Taiwan’s defense ministry said 21 Chinese military aircraft entered its air-defense identification zone Tuesday, compared to four the day before. The PLA has stepped up its flights near Taiwan in recent months, and ramps ups the show of force around key events, including visits by US poltiicians. Pelosi became the first US House speaker to visit the island in 25 years when her military aircraft arrived at Songshan Airport shortly before 11 p.m. local time. China considers Taiwan part of its territory and protests diplomatic visits to the democratic island. The planned drills would be the most serious show of force by China around Taiwan since at least 1995, when Beijing test-fired missiles into the sea near the island. That move was part of China’s protests against President Bill Clinton’s decision to let Taiwan’s first democratically elected president, Lee Teng-hui, visit the US. Back then, China also declared exclusion zones around target areas during the tests, disrupting shipping and air traffic. Pelosi plans to hold a joint press briefing with President Tsai Ing-wen at about 10:50 a.m. Wednesday, the Taiwan leader’s office said in a statement. She is expected to depart the island later that day to continue her Asia tour visiting US allies South Korea and Japan. Taiwan’s ruling Democratic Progressive Party called on China to exercise restraint and stop acts of military and political intimidation. China should “demonstrate the demeanor of a responsible power,” DPP spokeswoman Hsieh Pei-fen said in a statement late Tuesday. “No threatening remarks or provocative actions can reduce even slightly the determination of Taiwan and its international friends to defend democracy and freedom,” she added.

No sign of PRC jets scrambling to shoot Pelosi down 😂😂😂 Getting closer and closer

Very close to Taiwan now

Came back to Bangkok from Singapore but went to Singapore restaurant for lunch 😂😂😂 Jumbo seafood restaurant in Siam Paragon Mall Sambal kangkong (water spinach with chili sauce) Mee goreng (fried noodle) Soya sauce steamed bamboo clams from Scotland Black pepper crab

https://asia.nikkei.com/Business/Food-Beverage/Curry-company-tries-its-hand-at-growing-Thai-veggies-in-Japan?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20220801190000&seq_num=23&si=44594 Curry company tries its hand at growing Thai veggies in Japan Yamamori determined to supply restaurants with fresh lemon grass and holy basil Green, golf ball-size Thai eggplant is essential to authentic curries but difficult to grow in Japan. Nevertheless, retort pouch curry maker Yamamori intends to do just that. (Photo by Tensei Tani) TENSEI TANI, Nikkei staff writerJuly 30, 2022 18:11 JST NAGOYA -- Kenichi Hotta, a 35-year-old farmer in the city of Yokkaichi, in Japan's Mie Prefecture, has been growing eggplant for years now, but a new variety is giving him fits. He has been contracted by a food maker to grow ma-khua, or Thai eggplant, but has found it to be more vulnerable to disease and soil bacteria than its Japanese cousins. "More than 10 plants have died so far," he said. "Japanese eggplant is much easier to grow." The company that hired Hotta is Yamamori, a maker of retort pouch Thai curry, which aspires to become a restaurant supplier specializing in Japan-grown Thai produce. When cooked, Thai eggplant -- green, golf ball-size fruit -- have more texture than the purple, oblong varieties that grow in Japan. Because of this texture, as well as their flavor, they are indispensable to authentic Thai curry. Yamamori started out as a maker of soy sauce and other seasonings. With sales of about 26 billion yen ($190 million) for fiscal 2021, the midsize company is Japan's biggest maker of retort pouch Thai curry using coconut milk and herbs. It is well-known in Southeast Asia, having production bases in Thailand and products that are sold throughout the region. Now it is trying to introduce Thai eggplant to Japanese soil. Last year, it tested planting procedures with the Miekita Agricultural Cooperatives (JA Miekita). While there are few insects that eat local eggplant varieties, trial plantings of the Thai fruit were feasted upon. Besides being an indispensable ingredient for certain dishes and difficult to grow, ma-khua is usually not allowed into Japan, a measure meant to keep foreign insects out of the country. Yamamori looked into the availability of Thai eggplant in Japan and found that a kilogram trades for about 1,500 yen (around $11), more than double the 600 yen that domestic varieties fetch. While some fruit and vegetables can be imported from Thailand, they go bad quickly due to the long journey. Yamamori believes there is demand in Japan for Thai produce if it can be stably grown and harvested in the country. Yamamori is the largest producer of boil-in-the-bag Thai food in Japan. (Photo courtesy of Yamamori) This year, Yamamori contracted with four farmers to grow not only Thai eggplant but also holy basil and lemon grass, ingredients necessary for tom yum, a spicy and sour soup with shrimp. A combined 2,000 sq. meters of farmland will be devoted to growing the immigrants. Yamamori plans to harvest and buy 4 tonnes of Thai eggplant, 1 tonne of holy basil -- gapao in Thai -- and 400 kg of lemon grass with the intention of wholesaling the ingredients to Thai restaurants and specialty retailers. Kaori Miyamura, the leader of the project team, is a soy sauce researcher. She is also an expert on fermentation technology and health food materials, but a straw hat has recently become her trademark accessory. She has been busy working with the contracted farmers to check on the quality and yield of their eggplant and basil. "My dream is that Thai vegetables become available at supermarkets across Japan," Miyamura said. The intention is to grow and ship ma-khua year-round. If the project succeeds, it will enable Yamamori to make its curry with Thai vegetables -- eggplant is widely considered a vegetable -- harvested in Japan. The company has also started considering new products. According to Tokyo-based research company Fuji Keizai, the market for Thai, Vietnamese and other Southeast Asian restaurants in Japan was worth 72.7 billion yen in 2019, up from 66.8 billion yen in 2014. Although many restaurants were slammed by the COVID-19 pandemic, the market in 2024 is expected to almost return to where it was in 2019. Thai food has also become popular in the prepared meal and freezer sections of Japanese supermarkets and convenience stores as well as at family-style restaurants. Yamamori faces numerous challenges if it intends to sell to these outlets year-round. A big one is Japan's climate; winter is too cold for tropical vegetables. Hotta tries to arrange his eggplant crop so he can harvest twice a week, but when the temperature dips, the fruit will need more time to grow. "Thai vegetables easily go bad if the temperature is not high enough," said JA Miekita official who was involved with the trial cultivation. If crops are moved to greenhouses, fuel and electricity costs could rise. Yamamori is used to giving advice to restaurants and food makers thinking of entering Thailand. But now its role is reversed as it endeavors to learn how to bring out the sourness, spiciness and umami of Thai food with authentic ingredients grown in Japanese soil.

https://asia.nikkei.com/Politics/International-relations/Indo-Pacific/U.S.-deploys-ships-and-planes-near-Taiwan-as-Pelosi-eyes-visit?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20220801190000&seq_num=5&si=44594 U.S. deploys ships and planes near Taiwan as Pelosi eyes visit Speaker begins Indo-Pacific tour from Singapore A MV-22 Osprey tiltrotor is seen on the flight deck aboard amphibious assault carrier USS Tripoli. The Tripoli is now near Okinawa. © U.S. Navy KEN MORIYASU, Nikkei Asia diplomatic correspondentAugust 1, 2022 17:20 JSTUpdated on August 1, 2022 19:06 JST TOKYO -- The U.S. military is moving assets, including aircraft carriers and large planes, closer to Taiwan ahead of an anticipated but unconfirmed visit to the island by House Speaker Nancy Pelosi. The military was initially opposed to the speaker's visit but now looks to be creating a buffer zone for Pelosi's plane, in case she decides to go ahead with the controversial stop. But with China declaring that it would "never sit idly by" if she were to visit the island, tensions in East Asia have quickly escalated, perhaps against the will of both U.S. President Joe Biden, who was seeking to remove some tariffs on Chinese goods to counter inflation, and Chinese President Xi Jinping, who faces a sensitive political season at home with his rule extension on the line. A reporter for local network TVBS tweeted that the speaker is expected to arrive in Taiwan on Tuesday evening. Pelosi and her congressional delegation landed in Singapore before dawn on Monday, according to flight tracking websites that followed the C-40C military plane on which she left Washington. Singapore's foreign ministry released a statement on Monday afternoon saying the delegation met with Prime Minister Lee Hsien Loong and other high-ranking officials. The ministry said Lee welcomed the delegation's commitment to "strong U.S. engagement" in the region and that they "also exchanged views on key international and regional developments, including the war in Ukraine, cross-strait relations and climate change." "PM Lee highlighted the importance of stable U.S.-China relations for regional peace and security," the statement said. The city-state is the first stop on an Indo-Pacific tour that will also take Pelosi and her entourage to Malaysia, South Korea and Japan. The speaker has been tight-lipped about her reported plans to go to Taiwan. Naval assets in the region include the aircraft carrier USS Ronald Reagan, which has returned to the South China Sea after making a port call to Singapore last week, the amphibious assault ship USS Tripoli, which is near Okinawa, and the amphibious assault ship USS America, which is forward-deployed to Sasebo, Japan. Further in the Pacific, the aircraft carrier USS Abraham Lincoln, Landing Helicopter Dock USS Essex and 36 other warships as well as three submarines are in Hawaii taking part in the Rim of the Pacific Exercise (RIMPAC), which will end on Thursday. Meanwhile, flight tracking websites show two HC-130J Combat King IIs -- the U.S. Air Force's only dedicated fixed-wing personnel recovery platform -- have arrived in Okinawa from Anchorage. They were accompanied by multiple KC-135 Stratotankers, an aerial refueling aircraft. "If she does visit Taiwan, the diplomatic protocols will be very important," said Masahiro Matsumura, a professor of international politics and national security at the faculty of law of St. Andrew's University in Osaka. "It will be provocative if Pelosi visits Taiwan President Tsai Ing-wen at the presidential office. Other options could be the de facto U.S. Embassy in Taipei or parliament." U.S. House Speaker Nancy Pelosi meets with Singapore Prime Minister Lee Hsien Loong in Singapore on Aug. 1. © Ministry of Communications and Information, Singapore This is more of a diplomatic issue rather than a military issue, Matsumura said, doubting whether the Chinese side was militarily ready for a confrontation with the U.S. Still, Beijing has been issuing daily warnings about the Pelosi visit. On Monday, Chinese Foreign Ministry spokesperson Zhao Lijian warned that a Pelosi visit to Taiwan would lead to "very serious" developments and consequences. "We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity," he said at the ministry's daily briefing. Asked what kind of measures the PLA might take, Zhao said: "If she dares to go, then let us wait and see." Last Wednesday, Gen. Mark Milley, the chairman of the U.S. Joint Chiefs of Staff, said of the Pelosi trip, "We will do what is necessary to ensure a safe... conduct of their visit. And I'll just leave it at that." The rapid rise in tensions has caught Japan off guard. Of its two Izumo-class multipurpose destroyers, which are being transformed into de facto light aircraft carriers, the JS Izumo is in Hawaii taking part in RIMPAC, while JS Kaga is under repair in the Kure Shipyard.

https://asia.nikkei.com/Business/Technology/Singapore-seeks-to-stay-competitive-by-retraining-entire-workforce?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20220801123000&seq_num=5&si=44594 Singapore seeks to stay competitive by retraining entire workforce PayPal and Microsoft partner with national 'reskilling' program Singapore has offered midcareer training opportunities through the SkillsFuture program since 2014. © Reuters TAKASHI NAKANO, KOITSU YAMADA and YOSUKE KURABE, Nikkei staff writersJuly 30, 2022 10:00 JST SINGAPORE/TOKYO -- Caught between a declining birthrate and a rising anti-immigrant sentiment, Singapore has decided to retrain its own citizens for tech jobs that are expected to drive the country's growth. Gangadevi Balakrishnan, a software engineer, owes her current position at PayPal to the government's reskilling program. Gangadevi Balakrishnan owes her job at PayPal to Singapore's reskilling program. She is eager to acquire more new skills. "I am personally interested in security and artificial intelligence. Therefore, I will be looking into programs and courses related to these areas." said Balakrishnan, 29. The program, SkillsFuture, began in 2014 to retrain the entire population of Singapore. It has provided credits for people 25 and older to study more than 24,000 courses ranging from digital technology to business management. SkillsFuture is a response to a sense of looming crisis fueled by the city-state's declining population. Lee Kuan Yew, Singapore's first prime minister, once said that without immigrants the economy would collapse by 2050, when 1.5 workers would have to support one elderly person. During Singapore's high-growth period in the 1980s and 1990s, the influx of immigrants made up for the low birthrate. But more and more citizens have become concerned about the increase in immigration, with some accusing them of stealing jobs. In response, the government has tightened entry restrictions on foreigners, who make up nearly 30% of the population. Last year, Singapore's population of foreigners fell 10% to 1.47 million, a drop that owes chiefly to the country's COVID travel controls. Singapore's overall population has declined for two consecutive years for the first time ever. That leaves the country with no choice but to train its existing population, including middle-aged and elderly people. The government has placed its bet on raising productivity. The reskilling movement has entered its second phase, shifting into higher gear during the pandemic instead of pumping the brakes. Citizens receive access to credits, but there also are partnership programs formed with companies at home and abroad to develop skill sets that match specific job classifications in demand. PayPal is one partner, along with Microsoft, Siemens and several other big-name corporations. A public-private citizen retraining program of this scope has few precedents. Singapore's Skillsfuture program provides training support for over 24,000 courses ranging from digital technology to business management. Last year, around 660,000 people received support. This is equivalent to one-quarter of the country's total working-age residents. "We can't change the genetic composition of our population. But we can maximize their potential with education and training," Lee once said. Singapore's per capita labor productivity totaled about $170,000 in 2020, an average annual increase of roughly 3% since 2015. For a wealthy country, those numbers demonstrate the difficulty of shooting for a higher level. Luxembourg, whose per capita gross domestic product is at the top level, also faces slow growth in labor productivity, prompting a policy reboot. The country launched a project to support learning of advanced skills. From 2020, digital technology has been added to the curriculum for elementary- and secondary-school students. Declining populations and an accompanying slowdown in economic growth will be part of a future creeping up on Japan and other advanced nations. Digitalization of industry, deregulation to promote growth and retraining populations can offer a path away from that fate.

https://asia.nikkei.com/Business/Markets/China-debt-crunch/Disappearance-of-deposits-triggers-distrust-in-Chinese-banks?utm_campaign=GL_one_time&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=3&pub_date=20220731093000&seq_num=8&si=44594 Disappearance of deposits triggers distrust in Chinese banks Scandal at a regional bank undermines confidence in entire system Customers of a rural Chinese bank have found that their deposits disappeared into thin air. (Source photos by Reuters/AP) NORIYUKI DOI, Nikkei staff writerJuly 27, 2022 13:45 JST SHANGHAI -- Customers of a rural Chinese bank have found that their deposits disappeared into thin air. Lies told by the lender, supposed to be under strict supervision of financial authorities, are inviting distrust and shaking public confidence in the country's banking system. The bank's call center kept giving false explanations to a typical customer. April 17: "Customers need to make a reservation by phone if they want to withdraw more than 100,000 yuan ($14,800) from their online account." April 18: "Our system is under renovation. Customers cannot withdraw their deposits until the work is complete." April 19: "There is no deposit record with the name, mobile phone number and ID number you've given." The lender in question is Yu Zhou Xin Min Sheng Village Bank, a small bank based in Xuchang, Henan Province, that serves rural populations. A man in Shanghai who had deposited 2 million yuan at the bank realized the grave nature of the problem on April 19, when a call center worker told him that his deposit didn't exist. Hardly believing what he had been told, he contacted the center two more times, only to get the same answer. He first learned of the bank, virtually unknown outside its home, when a friend told him it offered high interest rates. He opened an account via its official app, called Mini-programs, on the social media platform WeChat and put the 2 million yuan into the account -- or so he believed. "I thought I could withdraw the money immediately if the bank seemed to be in trouble," he said. People protest over the rural bank scandal outside a People's Bank of China building in Zhengzhou, Henan Province, on July 10. © Reuters Where has his money gone? An investigation by public security authorities in Xuchang found that the bank collected money illegally through "fake deposits." According to the authorities, a criminal group led by a mastermind named Lu Yi brought Yu Zhou Xin Min Sheng Village Bank and several other regional banks under their control through Henan Xincaifu Group Investment Holding from 2011. Lu also founded Junzheng Zhida Tech, whose main business is to develop banking systems, and had the company develop online systems for the lenders to enable them to accept deposits via the internet. The banks solicited "deposits" to their online services, but investigators believe they didn't actually put customers' money into their accounts. That was the reason the Shanghai man was told that his deposit didn't exist. The authorities in Xuchang say the banks transferred the money to Henan Xincaifu Group Investment Holding, disguising it as loans. Lu established another tech firm, Chenyu Information Technology, which tampered with the banks' data to conceal the illegal activities from authorities. The group had controlling stakes in five banks, all small and regional. But the misconduct affects 1 million people who have become unable to access deposits totaling 10 billion yuan, Chinese media Caixin reports. The unprecedented scandal is threatening to undermine China's banking system as a whole. "Debt has created a huge hole in the Bank of Nanjing's finances. I recommend customers withdraw their deposits," wrote Fu Mingfei, an analyst at the major Chinese brokerage Western Securities, on WeChat on June 30. His post went viral. The bank rejected Fu's argument as "malicious rumors," and his employer fired him. In the evening of July 3, public security authorities in Nanjing announced that they had penalized a 39-year-old man for "spreading false information on WeChat that posed negative impact on the Bank of Nanjing." After an analyst recommended that customers withdraw their deposits at the Bank of Nanjing, the bank called his viral post "malicious rumors." (Photo by Noriyuki Doi) According to the China Banking and Insurance Regulatory Commission, the ratio of nonperforming loans stood at 1.35% among large commercial banks at the end of March. The highest ratio is seen among rural commercial banks, at 3.37%. The government boasts of the financial health of lenders, but the assessment of bank assets is largely left to financial authorities' discretion. That is at the root of the unspecified public distrust in banks. One typical example is Baoshang Bank in Inner Mongolia, dissolved by the central government in 2020. The bank was effectively controlled by Tomorrow Holding, led by tycoon Xiao Jianhua, who went missing in Hong Kong in January 2017. Its ratio of nonperforming loans was 1.41% in 2015 and 1.68% in 2016. But as it concentrated its loans on Tomorrow Holding, the ratio surged to 98% by the time it was dissolved. More than 1,000 people held a protest on July 10 in Zhengzhou in Henan over the village bank scandal. The central government announced the following day that it would reimburse affected customers, and the rescue plan is expected to help calm the situation. But the fact that a criminal group controlled banks and authorities failed to detect the wrongdoing is shaking public confidence in the banking sector.

https://asia.nikkei.com/Business/Transportation/Singapore-Airlines-returns-to-profit-as-Asia-travel-surges?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20220729123000&seq_num=17&si=44594 Singapore Airlines returns to profit as Asia travel surges Carrier warns of inflation, as it and city-state prepare for more visitors Singapore Airlines will restore its India operations to pre-pandemic levels, while adding more flights to Japanese cities such as Tokyo and Osaka. © Reuters TSUBASA SURUGA, Nikkei staff writerJuly 28, 2022 20:41 JST SINGAPORE -- Singapore Airlines returned to profit for the three months ended June, helped by a sharp revival in travel demand after regional economies reopen their borders as COVID comes under control. The city-state's flagship carrier on Thursday reported a net profit of 370 million Singaporean dollars ($268 million) for the April-June period, recovering from a S$409 million loss it posted the same period a year ago. Sales tripled to S$3.91 billion in the quarter from a year ago. The airline has had a choppy year. It made its first quarterly profit in the three months to end-December since the onset of the pandemic, which reflected the city-state's move to expand quarantine-free travel in October. But it fell back into a loss over the next three months, hit by higher fuel prices. "Travel demand is expected to remain robust in the near term as we head into the year-end holiday travel period, with forward sales staying buoyant for the next three months up to October 2022," the airlines said in a statement. Although the travel industry in Southeast Asia is recovering, inflationary pressure, particularly high fuel prices, could still dampen earnings as airlines ramp up capacity. As a key travel hub, Singapore was hit hard by global COVID restrictions. For the fiscal year ended March, Singapore Airlines posted a net loss of S$962 million, its third consecutive annual loss. Since April this year, however, Singapore has relaxed most of its restrictions and allowed quarantine-free entry for vaccinated travelers. In the first half of this year, Singapore saw 1.5 million visitors, nearly 12 times more than the same period last year. The arrivals mostly came from Indonesia, India and Malaysia. As global travel picks up, the Singapore Tourism Board expects 4 million to 6 million visitors this year. This is still far from the 19.12 million arrivals in 2019, but much higher than the 2.74 million in 2020. During the first quarter, Singapore Airlines carried over 5 million passengers, 14 times higher than the year before. Elsewhere in the region, Thailand has also opened up to vaccinated travelers and it expects 9.3 million visitors this year. Indonesia, Vietnam and Malaysia also hope to take in more arrivals this year, now that they, too, have lifted restrictions. To meet increasing demand, Singapore's Changi Airport said it will reopen in September its fourth terminal, which mostly handles low-cost flights. Still, the tourism board noted that the travel industry "will face some headwinds for the rest of the year because of the volatile global political and economic environment, as well as the evolving health situation." For Singapore Airlines, "inflationary pressures including elevated fuel prices remain a concern." Its net fuel cost more than tripled to S$1.27 billion in the three months to end-June. The airline said that it will continue to "keep a tight rein on costs," while increasing services to destinations globally. Singapore Airlines will restore its India operations to pre-pandemic levels, while adding more flights to Japanese cities such as Tokyo and Osaka. With strong demand, more services will be added to Los Angeles and Paris, the airline said. Shares in Singapore Airlines rose 0.2% to S$5.36 on Thursday ahead of the earnings announcement.

https://asia.nikkei.com/Business/Energy/Thai-plant-engineer-makes-high-energy-biofuel-on-par-with-coal?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20220727124000&seq_num=14&si=44594 Thai plant engineer makes high-energy biofuel on par with coal TTCL aims for $600 million in sales in 2030 Agricultural waste like corncobs and husks is turned into a high-energy biofuel at a TTCL plant. YOHEI MURAMATSU, Nikkei staff writerJuly 27, 2022 05:13 JST BANGKOK -- Thai engineering company TTCL has opened a plant to produce biomass fuel from agricultural waste like corncobs and husks as a greener alternative to coal in a country that still relies heavily on fossil fuels. The facility in northern Thailand's Lampang Province uses a process known as torrefaction to produce a fuel with greater energy density than standard wood pellets. It is about on par with Indonesian coal, and also comparable in price under current market conditions, the company said. These so-called black pellets can be burned alongside coal at power plants or factories using existing equipment with little modification. Biofuel is considered carbon neutral, as the plant matter it is made from absorbs carbon dioxide as it grows. The facility, the cost of which is estimated in the millions of dollars, can make 7,500 tonnes of biofuel a year at present. Production is slated to go up to 75,000 tonnes annually next year. TTCL plans eventually to increase overall output to 2 million tonnes, including production outside Thailand. TTCL will sell the pellets to local companies as well as Japanese businesses operating here, targeting $600 million in sales by 2030. The biomass facility is part of a diversification effort by Bangkok-listed TTCL, which mainly builds petrochemical factories and power plants.

Numbers usually don't lie but should we be concern with these findings? Abything we should and could do to protect ourselves?

Running out of stock for cooking soon so I made that too today

Had time today so did some cooking. Cooked Hokkien sticky rice the old school way, fry the rice until its cooked (no steaming) Ingredients Delicious

Today is a public holiday in Thailand. Had my krapow breakfast at a typical Thai eatery The shop My breakfast Krapow moo saab Soup The shop and my breakfast

Once back went for a nice 3 hours traditional Thai Massage Herbal tea Lobby Cosy room

Sir Stanford Raffles in front of the Victoria Memorial Hall City Center Elizabeth Walk By the Singapore River Merlion and Marina Bay Sands Tourists are back Esplanade Merlion against the City Center Marina Bay Sands City Center Padang

Final photos of my Singapore trip last week some "tourist" photos 😂😂😂 CHIJMES Cathedral of the Good Shepherd Capitol Kempinski St Andrews Cathedral City Hall and Padang City Centre Old High Court Raffles City Old Parliament House Victoria Theatre

So before leaving for the airport on Friday, I had a meepok noodle at this restaurant in Capitol Cashier Menu The restaurant My lunch - I'd say its very nice especially the chili sauce

https://asia.nikkei.com/Spotlight/Market-Spotlight/Thailand-export-earnings-threatened-by-rice-glut?utm_campaign=GL_asia_daily&utm_medium=email&utm_source=NA_newsletter&utm_content=article_link&del_type=1&pub_date=20220725190000&seq_num=2&si=44594 The price of Asia's main food has not been anything like the wild ride of other staples. (Photo by Akira Kodaka) Thailand export earnings threatened by rice glut Opinions diverge over outlook as fertilizer shortages loom RURIKA IMAHASHI and APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writersJuly 25, 2022 06:02 JST TOKYO/BANGKOK -- The surge in wheat and corn prices driven by Russia's invasion of Ukraine hit consumers around the world and made it harder for some to put bread on the table. But some Asian countries are grappling with a contrasting problem: a glut of rice that threatens to deal a blow to their export earnings. Thailand heads the list of nations confronted with the unexpected specter of overabundance thanks to favorable weather in Asia's paddy heartlands. The region's countries are now in a fierce rice price war as they seek buyers for their swelling stocks, but there are sharp divisions of opinion over where prices go from here. "A good crop in several countries allowed key exporters, particularly India and Pakistan, to compete by offering at low prices," Charoen Laothamatas, president of the Thai Rice Exporters Association, told Nikkei Asia. The price of Asia's main food has not been anything like the wild ride of other staples. At $420 per tonne, the benchmark 5% common grade Thai rice is trading within a few percentage points of where it was at the start of 2021 and shortly after the invasion this year. Intense price competition means buyers can get prices much lower than that on other rice. Both wheat and corn prices soared more than 40% as grain exports from Ukraine's ports were blocked and India banned wheat exports to prioritize domestic amid hot weather that disrupted its own production. Talks to end the blockade and bumper crops elsewhere have brought prices down sharply in recent weeks but wheat is still up 15% from a year ago. In contrast to its ban on wheat exports, India is trying to sell more rice overseas. The world's largest rice exporter sold an average of 22 million tonnes of rice over the past few years, almost half the world's rice trade. The price competition is already fierce. According to traders, India can offer as low as $343 per tonne, well below $388 offered by Pakistan and $418 by Vietnam. Thailand offers prices in the $420s due to higher production costs. "The Thai rice price was more than $80 per tonne higher than India and other competitors. That made it difficult for Thai exporters to compete with others," Charoen said, adding that world rice prices are expected to remain under pressure. Thailand is due to harvest its major crop in October, when around 24 million tonnes of paddy will be reaped. "It would be another year of disaster as we don't know how deep rice prices will plunge," one exporter said. "That would force the Thai government to issue price intervention schemes to support farmers." For the government, which faces a general election next year, it is crucial to keep more than four million rice-farming families happy. The consequence is that exporters are unlikely to sell at lower world prices when prices are being propped up at home, reducing their share of the global market. The quantity of rice in storage around this time of year has been historically high for several years, at more than one-third of annual demand. The decline in wheat and corn prices in recent weeks has cooled talk that rice may gain favor as an alternative, something that could have decreased elevated inventories. Not everyone agrees rice prices will stay low, however, and several point to fertilizer shortages as a reason to expect an increase over time. Russia is the world's biggest exporter of nitrogen, the second-largest of potassium, and third of phosphorous -- key ingredients of fertilizer, which is now harder and more expensive to obtain as a result of international sanctions. Akio Shibata, president of the Natural Resource Research Institute in Japan, warned that Asia could not remain optimistic about its staple supply. "If fertilizer prices continue to rise and its supply disrupted, rice prices will likely follow that of wheat and corn," Shibata told Nikkei Asia. Thailand, again, could be particularly vulnerable. Thai farmers typically rely on expensive chemical pesticides and fertilizers. It imports around four million tonnes of fertilizers annually. That is different from rivals such as Vietnam and India. Vietnam has spent many years developing new rice strains and rice-growing techniques that help cut production costs, while India and Pakistan grow rice in vast areas with economies of scale and cheap labor costs. As a result, the productivity of Thai rice remained low, with yield per rai (0.16 hectare) standing at 454 kilograms, well below Vietnam's 803 kilograms per rai. Disruption in fertilizer supply could further lower the productivity of Thai rice growers. The government in June approved a plan to allow Thai and foreign investors to develop the country's first potash mine to enable the domestic production of fertilizer. However, it will take years before a mine is actually up and running. David Beasley, executive director of the World Food Programme, said fertilizer shortages could depress rice yields across the region and lead to a repeat of the 2007-2008 price spike that followed a drought in India and sent prices to $1,000 a tonne. "Asia is going to be pounded with this fertilizer crisis, which is going to devastate rice harvest over the next 12 months," he said. "And when you look at how much progress has been made on reducing hunger in the world, primarily in Asia ... this could truly set back global food security."