ANN/CHINA DAILY – China’s transport industry maintained its growth momentum in the first two months, with increases in key indicators such as freight volume and port cargo, according to the Ministry of Transport.
Total freight volume during the January-February period reached 8.03 billion tonnes, up 4.8 per cent year on year, with road and waterway freight increasing 5.7 per cent and 3.9 per cent, respectively.
Cargo throughput at the country’s ports ticked up 2.3 per cent from a year ago to hit 2.67 billion tonnes, with cargo throughput from domestic trade up 2.4 per cent year on year.
During the first two months, inter-regional trips across the country jumped 4.9 per cent year on year to hit 12.29 billion, according to the ministry.
The ministry data also showed that fixed-asset investment in the transport sector remained stable, standing at CNY366.5 billion (about USD51.08 billion) during the period.
Containers at Nanning International Railway Port in Nanning, China. PHOTO: XINHUA
BERNAMA – United Kingdom (UK) businesses are set to face a multibillion-pound wave of higher costs this week as higher wages and tax increases come into force, PA Media/dpa reported.
Retail and hospitality bosses have warned that higher labour costs and taxes are set to push up prices for customers across the UK.
A raft of measures linked to the Labour government’s first budget will come into force tomorrow, including a rise in the national minimum wage and higher property tax payments.
This will be followed by changes to national insurance contribution (NICs) payments from April 6.
Millions of UK workers will benefit from a rise in the national minimum wage to GBP12.21 (USD15.8) an hour tomorrow, representing an increase of 77p.
The move has forced many of the UK’s largest employers to increase their rates of pay, with supermarket groups Tesco and Sainsbury’s among firms to announce they would hike their basic pay above the new minimum.
ANN/THE KOREA HERALD – Residents of South Korea should prepare for rising costs in April, as prices for several everyday products, including ramyeon, milk and burgers, are set to increase.
Ottogi Corp, a leading food producer in South Korea, will raise the prices of 16 out of its 27 ramyeon products by an average of 7.5 per cent, marking its first price increase in over two years. One of the most popular brands, Jin Ramen, will see its price rise from KRW716 to KRW790 at major hypermarkets beginning tomorrow.
The company explained that the price hike is largely due to the surge in exchange rates, causing imported raw material costs to soar. In addition, rising agricultural prices, as well as increased logistics and labour costs, have made the adjustment unavoidable.
A company official stated that the pressure from high exchange rates and soaring oil prices on imported raw materials had intensified, but they had attempted to minimise the price increase to ease the burden on consumers.
Beverages are also seeing price hikes. Namyang Dairy Products will increase the prices of its chocolate milk products, including the popular Choco Emong, by an average of 8.9 per cent.
Prices for its apple juice and almond milk products will also rise in April.
The fast food sector will not be spared either.
Shinsegae Food will raise prices on its No Brand Burger menu by an average of 2.3 per cent, while Lotte GRS, the operator of the Lotteria burger chain, will increase prices for 65 menu items by an average of 3.3 per cent starting April 3.
These price adjustments reflect the ongoing economic pressures facing South Korea’s food and beverage sectors, driven by factors such as high exchange rates, inflation, and rising commodity costs.
A customer browses through a stack of noodles at a hypermarket in Seoul, South Korea. PHOTO: THE KOREA HERALD
AFP – United States (US) President Donald Trump declared that he “couldn’t care less” if automakers increase car prices for Americans in the wake of his imposition of import tariffs.
There have been reports that Trump threatened auto executives with reprisals if prices jump, but he told NBC News that increasing prices would simply help US-based manufacturers.
“I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty,” he told NBC host Kristen Welker.
On Thursday, Trump imposed a blanket 25 per cent import tariff on cars and light trucks made outside the US, due to take effect on April 3.
Tariffs will be delayed for car parts from countries covered by US trade pact with Mexico and Canada as officials try to disentangle the mixed supply chain.
But otherwise Trump intends for the import levy to be permanent, in order to boost US production and, in his view, save the American auto industry.
Despite his boosterism, however, share prices of the biggest US automakers have suffered and experts have warned that price rises will hit American consumers.
AFP – China, South Korea and Japan agreed yesterday to strengthen free trade in the face of a raft of new tariffs imposed by United States (US) President Donald Trump.
The agreement came at a meeting of top trade officials – the first at that level in five years – days ahead of the start of tariffs on a huge range of US imports, including cars, trucks, and auto parts.
South Korea and Japan are major auto exporters, while China has also been hit hard by the US tariffs.
The meeting was attended by South Korea’s Industry Minister Ahn Duk-geun, his Japanese counterpart Yoji Muto and China’s Wang Wentao.
The three countries called for their negotiations for a comprehensive trilateral free-trade agreement to be speeded up, and agreed to create “a predictable trade and investment environment”, a statement said.
South Korea’s Ahn said the three countries must respond “jointly” to shared global challenges.
“Today’s economic and trade environment is marked by increasing fragmentation of the global economy,” he said.
“The international environment surrounding us is constantly changing, and uncertainties are increasing,” Japanese trade official Yasuji Komiyama told a press briefing.
Chinese official Wang Liping said “unilateralism and protectionism are spreading”, and the three countries must assume responsibility to safeguard the multilateral trading system.
The three account for 20 per cent of the world’s population, 24 per cent of the global economy, and 19 per cent of global merchandise trade, he said.
According to the South Korean Trade Ministry, Ahn emphasised that protectionism was “not the answer” and urged efforts to ensure the World Trade Organization functions properly to “safeguard the stability and predictability” of global commerce.
Trump promised tariffs tailored to each trading partner from April 2 to remedy practices he deems unfair.
But he also told reporters last week that there would be “flexibility”, and markets appeared to react with some relief at the end of last week.
Following the meeting between the three ministers, they alkso held bilateral meetings
gatherings.
South Korea Trade, Industry and Energy Minister Ahn Duk-geun, Japan Economy, Trade and Industry Minister Yoji Muto and China Commerce Minister Wang Wentao at the 13th Trilateral Economic and Trade Ministers’ Meeting in Seoul, South Korea. PHOTO: AFP
HOUSTON (AFP) – Australian Min Woo Lee birdied seven of the first 14 holes in firing a seven-under par 63 to seize a four-stroke lead after Saturday’s third round of the PGA Houston Open.
The 26-year-old from Perth finished one off the Memorial Park course record to stand on 17-under 193, a 54-hole tournament record.
“Just some solid golf,” Lee said. “Been playing really good the last few days. Just keep my head down.”
Lee, with his first 54-hole lead in a PGA event, seeks his first PGA title after three wins on the European Tour. “Hopefully tomorrow is another good day,” Lee said. “Similar golf (to win). Just got to play pretty steady off the tee. A couple shaky drives at the end but kind of regrouped and made it happen. Just keeping my head down and one shot at a time.”
While Lee, Fox, Tosti and Gerard each seek a breakthrough first PGA triumph, Scheffler won nine titles worldwide last year, including his second Masters and Paris Olympic gold, and matched the course record with a 62 on Friday.
Scheffler was bogey-free for the week until he followed a birdie at the par-5 third with a bogey after missing the green with his approach at the fourth.
Scheffler birdied the par-5 eighth and answered a bogey at 13 with a birdie at the par-5 16th but the 36-hole leader only managed a 69.
“Yesterday I holed a bunch of putts, today I feel like I couldn’t get the ball to go in the hole,” Scheffler said. “Feel like I hit a lot of good putts. Lee sank a six-foot birdie putt at the par-5 third and chipped in for birdie from 34 feet at the par-4 sixth to grab the lead at 12-under.
Lee dropped his approach inches from the hole at the par-5 eighth and par-3 ninth to set up tap-in birdies on both holes and sank a birdie putt from just inside 12 feet at the 10th for his third consecutive birdie to reach 15-under and stretch his lead to three strokes.
World number 55 Lee birdied the par-4 12th after landing his approach inside five feet and when Scheffler made bogey at the 13th, the Aussie had a five-stroke edge.
Lee sank his seventh birdie in 14 holes, a seven-footer at 14, and parred his way to the clubhouse.
Australia’s Min Woo Lee at the Texas Children’s Houston Open 2025 in Houston. PHOTO: AFPMin Woo Lee, 26. PHOTO: AFP
LOS ANGELES (AFP) – Two-time major winner Lilia Vu birdied three of the last four holes to seize a two-stroke lead over England’s Charley Hull after Saturday’s third round of the LPGA Ford Championship.
The 27-year-old American, who also led by two shots when the day began, fired a four-under par 68 in firm and windy conditions to stand on 18-under 198 after 54 holes at Whirlwind Golf Club in Chandler, Arizona.
“It was pretty difficult,” Vu said. “Not only that, I feel like my ball-striking hasn’t been as great the past few days but today it was good.”
United States’ Charley Hull closed with a birdie to shoot 68 and stand on 200, putting herself in the final pairing with Vu, with Japan’s Ayaka Furue and Denmark’s Nanna Koerstz Madsen sharing third on 201.
A fifth-place pack on 202 included China’s Zhang Yahui, South Koreans Ryu Hae-ran and Kim Hyo-joo, American Allisen Corpuz and world number two Jeeno Thitikul of Thailand. A double bogey by Vu at 14 left her level with Hull for the lead, but the American birdied the next three holes to seize command.
“I feel like I got a huge stop sign after that,” Vu said after her stumble at 14. “I was telling my caddie I just can’t get the numbers right today.
“He just said to me I’m just going to get you on the green and we can try to make the putt from there and that’s exactly what we were doing.”
Sixth-ranked Vu, a former world number one, seeks her sixth LPGA title and the first since last June’s Meijer Classic, her first event after a three-month absence for a still-nagging back injury.
“I’m not thinking too much about it,” Vu said of winning. “I’m just going to go out there and have fun.” World number 10 Hull seeks her third career LPGA triumph and first since the 2022 Volunteers of America Classic.
Hull and Vu battled for the lead much of the day, the American answering whenever challenged. Vu birdied the par-5 second and sandwiched birdies at the fifth and par-5 seventh around her first bogey of the week at the sixth before closing the front nine with another bogey.
That opened the door for Hull, who overcame an opening bogey with birdies at the second, fifth and seventh and another at the par-5 12th to match Vu for the lead at 15-under. Vu responded with a birdie at the par-4 11th and a four-foot birdie putt at the par-5 12th to reach 17-under and when Hull made bogey at 14, Vu’s lead was up to three shots.
But Hull answered with a birdie at 16 and when Vu made a double bogey at the 14th they were again tied for the lead.
Vu answered once more with a long birdie putt at the par-3 15th and tap-in birdies at 16 and the par-5 17th to reach 18-under and lead by three before Hull’s closing birdie.
Lilia Vu at the Ford Championship 2025 at Whirlwind Golf Club in Wild Horse Pass in Phoenix, Arizona. PHOTO: AFP
ANN/THE NATION – Thailand’s digital advertising market is projected to expand by 10 per cent in 2025, reaching THB34.5 billion, according to a joint report by the Digital Advertising Association (Thailand) (DAAT) and Kantar (Thailand).
The growth is driven by strong demand in the skincare sector and the rapid rise of TikTok, which has overtaken YouTube as the second most popular platform for digital advertising.
Despite concerns over household debt and an economic slowdown, digital ad spending is expected to remain strong, fuelled by key sectors such as fast-moving consumer goods, services and tourism.
“We anticipate a 10-per-cent increase in digital ad spending this year, despite economic challenges,” said Managing Director of Client Solutions and Southeast Asia Growth Lead at Kantar (Thailand) Apapat Boonrod.
“This growth reflects the resilience of the Thai consumer market, with significant investments from major sectors.”
The skincare industry leads digital ad spending, surging 21 per cent to THB6.13 billion as personal care consumption rebounds post-pandemic. Meanwhile, the automotive sector, a key contributor at THB2.98 billion, saw a slight one per cent dip, possibly due to intensified promotions from Chinese electric vehicle brands.
TikTok’s rapid growth is another highlight of the report.
The platform now accounts for 16 per cent of the digital advertising market share, surpassing YouTube’s 15 per cent, with a total spending of THB5.51 billion.
UNITED STATES (AFP) – The NBA champion Boston Celtics and Western Conference leaders Oklahoma City continued their march to the playoffs yesterday as the Los Angeles Lakers bounced back with a win over the Memphis Grizzlies.
Jayson Tatum scored 29 points with 10 rebounds and eight assists to propel the Celtics to their eighth straight victory, 121-111 over the Spurs in San Antonio. Tatum, back after missing one game with a sprained left ankle, led seven Boston players to score in double figures, Jrue Holiday adding 21 points in the triumph.
The Thunder rolled to their ninth straight victory behind 33 points, seven rebounds and eight assists from Most Valuable Player contender Shai Gilgeous-Alexander.
With eight games remaining Oklahoma City lead the Cleveland Cavaliers in the race for the best record in the league and home court advantage throughout the playoffs. The Lakers, coming off an agonising loss to the Bulls on Josh Giddey’s buzzer-beater, claimed a key 134-127 victory over the Grizzlies that put them one game ahead of Memphis for fourth place in the West.
The Lakers spoiled the debut of interim Memphis coach Tuomas Iisalo, who took over on Friday when the Grizzlies abruptly sacked Taylor Jenkins.
Austin Reaves scored 31 points and handed out eight assists for Los Angeles, who let an early 20-point lead get away but managed to come back after the Grizzlies took a 111-107 lead early in the fourth quarter.
James finished with 25 points, six rebounds and eight assists and Lakers coach JJ Redick said he was pleased with the poise his players showed after falling behind in the fourth quarter.
“So coming into this game it’s obviously high intensity,” Reaves said.
“And it’s hard, last game of a road trip, you’re pretty excited to go home. But for that three hours or whatever the game is you’ve got to lock in.”
Jrue Holliday of the Boston Celtics drives past the San Antonio Spurs in the first half at Frost Bank Center San Antonio, Texas. PHOTO: AFP
XINHUA – The Federal Reserve’s (Fed) preferred inflation gauge rose more than anticipated in February, while consumer spending increased less than expected, the United States’ (US) Commerce Department reported.
The core personal consumption expenditures (PCE) price index climbed 0.4 per cent for the month, marking the largest gain since January 2024 and bringing the annual inflation rate to 2.8 per cent.
Economists surveyed by Dow Jones had projected increases of 0.3 per cent and 2.7 per cent.
Core inflation, which excludes volatile food and energy costs, is viewed as a better measure of long-term price trends.
Including all items, the PCE price index rose 0.3 per cent in February and 2.5 per cent over the past year, both matching forecasts.
Meanwhile, the Bureau of Economic Analysis reported that consumer spending grew 0.4 per cent for the month, slightly below the expected 0.5 per cent increase, while personal income rose 0.8 per cent, doubling the 0.4 per cent estimate. Prices for goods rose 0.2 per cent in February, driven by a 0.5-per-cent increase in prices for recreational goods and vehicles, while a 0.8-per-cent drop in gasoline prices helped offset some of the gains.
Service prices climbed 0.4 per cent.
Households became more cautious with their finances, as the personal savings rate rose to 4.6 per cent, the highest level since June 2024.
The report comes with growing market concerns that US President Donald Trump’s tariff policies could exacerbate inflation just as price growth had been making slow but steady progress toward the Fed’s two per cent target.
While Fed Chair Jerome Powell has reassured markets that inflationary pressures are likely “transitory”, his comments are losing traction as the trade conflicts escalate. Some Fed officials have acknowledged heightened uncertainty, with one describing the economic outlook as having “zero visibility” in a “dense fog.”
Consumers shop at a store in New York, United States. PHOTO: XINHUA
