SEOUL (CNA) – A consortium led by South Korean electric carmaker Edison Motors has agreed to acquire debt-ridden SsangYong Motor for KRW305 billion (USD254.65 million), SsangYong Motor said yesterday.
SsangYong is burdened with high debt and its vehicle sales last year fell to 84,496, down about 21 per cent from a year earlier, a regulatory filing from the automaker showed.
The automaker reported a January-September 2021 operating loss of KRW238 billion won from revenue of KRW1.8 trillion won.
SsangYong has been under court receivership since April in an attempt to rehabilitate the carmaker after majority owner Mahindra and Mahindra failed to secure a buyer.
Indian automaker Mahindra, which owned about 75 per cent of SsangYong as at the end of September, has been looking for a buyer for all or most of its stake, which it bought when the South Korean automaker was near-bankruptcy in 2010.
The logo of Ssangyong on its Korando during the 2019 Seoul Motor Show in Goyang, South Korea. PHOTO: CNA
The standard operating procedures (SOPs) for passengers coming into Brunei Darussalam is currently under review, in view of the recent rise in the number of imported COVID-19 cases. Continued monitoring will be conducted.
Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah said this at the press conference yesterday, adding that the “Sultanate’s SOPs since the first wave have been effective, however, we cannot be complacent.
“There was a brief moment where we felt it was possible to loosen up travel restrictions, before the arrival of the Omicron variant. Since its emergence, it seems other countries too have been reporting an increase in cases,” the minister said.
Existing SOPs are being reviewed to determine whether they are still effective or need to be further improved, he said.
“What is important is that we do not breach our SOPs for anyone coming into the country.
Cooperation is needed not only from the passengers, but also the employees at hotels, those in the pick up buses and everyone involved,” he added.
Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah at the press conference. PHOTO: JAMES KON
Brunei Darussalam’s forward Faiq Jefri Bolkiah carved his name in the history books after becoming the first Bruneian to play in the Thai professional league following his senior debut for Chonburi FC in the Thai League 1 at the Chonburi Stadium in Thailand on Sunday night.
The Brunei international also became the first player in the country to represent an overseas-based club in a top division of any international league after replacing midfielder Gidi Kanyuk as a late substitute during the 1-1 draw against Muangthong United.
His cameo role against the four-time league champions also coincidentally marked his first senior appearance in club football having spent most of his career in the reserves or youth teams.
Faiq, who did not make a single senior team appearance during a brief spell with Portuguese outfit Maritimo FC, expressed his delight after getting playing time for the Sharks and looked forward to the next match.
The 23-year-old could be in contention for a starting berth during Chonburi’s first round meeting against Chiangmai FC next in the new Thai League Cup edition tomorrow.
Brunei Darussalam’s forward Faiq Jefri Bolkiah makes his professional debut for Chonburi FC. PHOTO: CHONBURI FC
His new employers enjoyed a deep run in a domestic competition last season having reached the Thai FA Cup final, where they were eventually beaten by Chiangrai United.
The former Chelsea and Leicester City youth prospect was visibly delighted in his first interview shortly after his move to Chonburi FC was confirmed at the end of last year.
Faiq said, “I’m really happy and everyone had helped me in settling really well. The players are really nice and all of the staff had helped me.
“The last two years I don’t think I had much of an opportunity to show what I can do on the pitch at the last place I was at.
“So, I had to really be careful about my next destination so that I can get a chance to show what I can do. After speaking to the coach, it was one of the main reasons why I came here.
“I felt that this is the right place to come to progress at this stage of my career.”
During the league restart, Chonburi trailed to a Sardor Mirzaev’s free-kick in the first half before Renato Kelic rescued a point for the hosts following a cushioned header from Kritsada Kaman.
The Sharks climbed to third with 29 points in the league table but are four points adrift of Bangkok United who currently occupy top spot.
KAMPALA, UGANDA (AP) – Uganda’s schools re-opened to students yesterday, ending the world’s longest school disruption due to the COVID-19 pandemic.
The re-opening caused traffic congestion in some areas of the capital, Kampala, and students were seen carrying their mattresses in the streets, a back-to-boarding school phenomenon not witnessed here for nearly two years.
Uganda’s schools have been fully or partially shut for more than 83 weeks, the world’s longest disruption, according to figures from the United Nations (UN) cultural agency. The shutdown affected more than 10 million learners.
The East African country of 44 million people first shut down its schools in March 2020, shortly after the first coronavirus case was confirmed on the African continent. Some classes were reopened to students in February 2021, but a total lockdown was imposed again in June as the country faced its first major surge.
For many parents, the re-opening was long overdue.
“Inevitably, we have to open up schools,” said Felix Okot, the father of a six-year-old kindergartner. “The future of our kids, the future of our nation, is at stake.”
The country’s schools cannot “wait forever” for the pandemic’s end, he warned.
The protracted school lockdown proved controversial in a country where measures aimed at stemming the spread of the virus were ignored by many.
Vaccine scepticism, even among health workers, remains a problem, with growing reports of fake COVID-19 vaccination cards sold in downtown Kampala.
Pupils wear face masks as they attend class at Kitante Primary School in Kampala. PHOTO: AP
The Olympic Games Winter Beijing 2022 is set to take place in less than a month, from February 4-20, followed by the Winter Paralympics from March 4-13.
It will be the first time the Chinese capital is set to become the first city to host both the summer and winter editions of the Olympic Games. The 2008 Summer Olympics was also hosted in Beijing.
On January 4, Chinese President Xi Jinping inspected the preparations for the 2022 Olympic and Paralympic Winter Games in Beijing.
He visited the national speed skating oval, main media centre, athletes’ village, games-time operations command centre and a winter sports training base, learning about Games preparatory work as well as Chinese athletes’ preparations for the Games.
Xi also extended New Year greetings to athletes, coaches, volunteers and representatives of operation teams, media and scientific research staff.
Chinese Foreign Ministry spokesperson Wang Wenbin during a press conference said, “You may have all noted that President Xi said in his New Year address that ‘We will spare no effort to present a great Games to the world’. On the first working day after the New Year holiday, President Xi made another field trip to inspect the preparations for the Olympic and Paralympic Games. This fully demonstrates that the Party and the Chinese Government give priority to the preparations and sends three key messages to the international community.”
Workers deliver a cart loaded with equipment to a commercial plaza at the Winter Olympic Village in Beijing. PHOTO: AP
First, he stated, “China honours its word. President Xi stressed that it is China’s solemn pledge to ensure the Beijing Winter Olympics and Paralympics are ‘a full success’. For more than six years since Beijing won the bid to host the Olympic Games, China has been focussing on popularising winter sports southward, westward and eastward.
“As a result, more Chinese have set foot on ice rinks and snow resorts, making winter sports popular and meeting the objective of ‘involving 300 million people in winter sports’. The principles of hosting a ‘green, inclusive, open and clean’ Olympic Games have been effectively implemented in constructing the venues, organising the events and providing services for the Games.”
Second, he said, “China is ready. After years of efforts, preparations are basically all set. In terms of events organisation, the ‘Experience Beijing’ test matches have successfully concluded. All 12 sports venues in Beijing, Yanqing and Zhangjiakou have been built and put into use with Global Association of International Sports Federation’s certification.
“The service and support system have been completed, covering the Olympic Village, volunteers, media centre, medical assistance and contract hotels.”
For the third point, he said, “China is confident that we will hold a safe Olympic Games. The International Olympic Committee (IOC), the International Paralympic Committee (IPC) and the Beijing Organising Committee for the 2022 Olympic and Paralympic Winter Games have published two editions of the Beijing 2022 Playbooks.
“Following the requirements of the playbooks, the Chinese side is optimising the area-based double closed-loop management process tailored for different categories of participants and strictly implementing the epidemic control protocols.
“China will take science-based, targetted epidemic prevention and control measures, make utmost effort to prevent infection and ensure the health and safety of all personnel attending the Beijing 2022.
“In his New Year’s Message 2022, IOC President Thomas Bach said that ‘we are looking forward to successful Olympic Winter Games Beijing 2022 and have great confidence that we will stage safe and secure Olympic Winter Games for everybody’.
“Polish Ski Association (PZN) President Apoloniusz Tajner said that China made the right decision to apply strict COVID-19 restrictions and thanks to that ‘I will feel safe during the competition in Beijing’.
“All these reflect the shared voice of the international community in looking forward to the Beijing 2022 and the international community’s confidence in a safe and secure Olympic Games to be hosted by China.”
In addition, Chinese Foreign Ministry spokesperson Zhao Lijian in a recent statement also highlighted, “The year 2021 has been a crucial year with preparatory work on all fronts progressing steadily towards full completion.”
“It has been a year of many major events in the Olympic calendar. For example, all competition venues for the Games were made ready; the Olympic torch for Beijing 2022 bearing the name ‘Flying’ was introduced to the world; the official motto ‘Together for a Shared Future’ and official posters were released; the flame lighting, handover and welcome ceremonies were held successfully; the Olympic and Paralympic medals named ‘Tongxin’ as well as uniforms and gear were all unveiled; and ice-sports test events were successfully held.”
While advancing efficient and high-level preparation for the Games, he added, “We have also ensured solid epidemic prevention and control to protect the safety and health of all personnel participating in the Games as well as the public.”
Excellent preparatory work for the Beijing Winter Olympics were also seen with athletes and people from many countries including international organisations looking forward to the Beijing Olympics. Preparation for the Games has entered the home stretch.
Beijing, a city to host both the Summer and Winter Olympics, will present a streamlined, safe and splendid event for the world.
On December 14, 2021, Vice-Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and head of a leading group overseeing the Beijing 2022 preparations, stressed “the need to prioritise prevention and control of the COVID-19 pandemic to ensure a simple, safe and splendid 2022 Olympic and Paralympic Winter Games”.
Han also noted that the pandemic is a stern test for Games organisers, and urged everyone to stay vigilant at all times and strictly follow COVID-19 counter-measures.
Han inspected several venues during a tour in Beijing on December 14, including the National Speed Skating Oval, the Winter Olympic Village, the Main Media Centre, the National Indoor Stadium and the National Aquatics Centre.
Another landmark achievement for the Olympic Games Winter Beijing 2022 is the use of new cutting edge technologies whereby Beijing is aspiring to stage smart Winter Olympics.
According to the Embassy of China News Bulletin, from competition facilities and sports equipment to support services, the development of the Olympic Winter Games is inseparable from science and technology.
Now, winter sports can reach a wider audience thanks to the constant sci-tech upgrading, and athletes are further empowered to set world records.
From the 5th Winter Olympics in St Moritz, Switzerland, to the 23rd Winter Olympics in Pyeongchang, Korea, more accurate timing, more advanced sports equipment, and ultra-high-definition live broadcasts have all added appeal to the Games.
For the upcoming Winter Olympics Beijing 2022, several new technologies will underpin its smooth running. During the 24th Winter Olympics, full 5G coverage will be achieved in and around the Olympic venues.
The National Olympic Sports Centre, Yanqing Competition Zone, and Shougang Industrial Park will be built into three innovative demonstration parks, providing automated vehicle sales, delivery, cleaning, and supermarket services.
In addition, intelligent robots will be introduced in the Olympic venues and relevant scenic spots to offer luggage delivery and other assistance for athletes and coaches.
The big data platform of the Olympic Villages pools information on security, environment, energy consumption, and other intelligent services to respond to emergencies promptly.
In terms of environmental protection, energy-saving and clean energy vehicles will be employed to provide traffic services, including hydrogen-powered buses, pure electric cars, and hybrid ones. As high as 85.84 per cent of the total vehicles will be clean during the Olympics, setting a new record from the previous version.
In addition, key technologies will ensure efficient and effective meteorological services for the events, including advanced 3D meteorological monitoring by the second and accurate weather forecasting by 10 minutes in a range of 100 metres.
The organisers will also utilise China’s self-developed high-speed moving target tracking and camera shooting system. The system can quickly locate the target and automatically track and film the Olympic downhill skiers who move at a high speed of 170 kilometres per hour.
MELBOURNE, AUSTRALIA (AP) – Tennis star Novak Djokovic won a court battle yesterday to stay in Australia to contest the Australian Open despite being unvaccinated against COVID-19, but the government threatened to cancel his visa a second time.
Federal Circuit Court Judge Anthony Kelly reinstated Djokovic’s visa, which was cancelled after his arrival last week because officials decided he didn’t meet the criteria for an exemption to an entry requirement that all non-citizens be fully vaccinated.
The judge also ordered the government to release Djokovic within 30 minutes from a Melbourne quarantine hotel where he has spent the last four nights.
Government lawyer Christopher Tran told the judge after the ruling that Minister for Immigration, Citizenship, Migrant Services and Multicultural Affairs Alex Hawke, “will consider whether to exercise a personal power of cancellation”.
That would mean Djokovic could again face deportation and could miss the Australian Open, which starts on January 17.
Speaking with television network Prva in Belgrade, Serbia, the tennis star’s brother, Djordje Djokovic, described the judge’s ruling as a “great defeat for Australian authorities”.
Novak Djokovic. PHOTO: AP
He also alleged that “the latest information is that they want to arrest him”, in an apparent reference to Australian authorities.
“This is definitely politics, all this was politics,” he added.
The office of Home Affairs Minister Karen Andrews confirmed that Novak Djokovic has not been arrested.
Kelly said the threat of a further visa cancellation meant the “stakes have now risen rather than receded”.
“If this man is to be summarily removed upon a personal exercise of cancellation power, he cannot return to this country for three years, am I right about that?” Kelly asked lawyers for Home Affairs Minister Andrews, under whose authority Djokovic’s visa was earlier cancelled.
Tran and colleague Naomi Wootten confirmed that Djokovic would be banned from Australia for three years.
The government cancelled 34-year-old Djokovic’s visa shortly after he arrived in Melbourne last Wednesday to play in the Australian Open.
There was a public backlash at news that Djokovic, who has previously declined to reveal his vaccination status, would compete in Melbourne because Australians who aren’t vaccinated face tough travel and quarantine restrictions.
STOCKHOLM (AFP) – Cages meshed over with women’s tights and crawling with mosquitoes are stashed in a Swedish laboratory. Every day, researchers feed them beetroot juice laced with deadly toxins, part of a grand plan designed to fight malaria.
With hopes of field trials delayed repeatedly by the Covid-19 pandemic, researchers in Sweden still believe they have found the secret to a new environmentally friendly way of killing off the Anopheles species of mosquitoes that transmit malaria.
So hopeful are they, they founded a company with a view to turning their discovery into a commercially viable alternative to the pesticides currently used to kill mosquitoes, but which can also harm humans and the environment.
Researcher Noushin Emami, 44, jokes that it’s like having a pet, but that unlike a pet, these mosquitoes are tricked into drinking a poisoned chalice.
They are tricked because the liquid is spiked with the very molecule that makes humans infected with malaria so appetising to them.
“If we add this molecule to any other solution, we make that solution very tasty for mosquitoes,” molecular infection biologist at Stockholm University Emami said.
ABOVE & BELOW: A researcher adds beetroot juice containing a specific molecule to a cage of mosquitos in a lab in Stockholm’s University; and mosquitos fly in a cage with a net cover. PHOTOS: AFP
“Like the taste of a fresh baguette or a pizza for a hungry creature… just out of the oven,” she told AFP.
In December, the World Health Organization (WHO) reported 241 million cases of malaria in 2020, up from 219 million in 2019, with an estimated 627,000 deaths – 96 per cent of which were in Africa. Children under five accounted for about 80 per cent of those deaths.
Malaria not only sickens people, those who become infected become more attractive to mosquitoes which then transmit the parasite to more and more people.
In 2017, Emami and her fellow researchers discovered this was due to a specific molecule, dubbed HMBPP, released as the parasite that causes malaria, attacks the body’s red
blood cells.
Opening what looks like a giant refrigerator kept to a temperature of 27 degrees Celsius, Emami shows off shelves of water-filled containers full of wriggling larvae, and the improvised mosquito cages, which she and her team feed daily.
By adding to the beetroot juice – in place of human blood – “a trace amount of toxins combined with the molecule, mosquitoes eat it and die”, explained Emami, who is an associate professor at the University of Greenwich in London.
The goal is also to use “harmless, environmentally friendly and easy to get killing-compounds”.
Lech Ignatowicz, who together with Emami co-founded the company Molecular Attraction to commercialise the discovery, said the new method has the potential to drastically change the fight against mosquitoes spreading diseases.
“The most effective way of killing mosquitoes is still using pesticides, but we know that pesticides are not only killing mosquitoes, but also other insects and other forms of life,” Ignatowicz told AFP.
There is also evidence that pesticides are becoming less effective. Nearly 80 countries reported to the WHO that mosquitos exhibited resistance to at least one of the four commonly used insecticides between 2010 and 2019.
Not only is the molecule relatively cheap, Ignatowicz said another benefit is how precisely it can target mosquitoes.
“Even in very dense environments, the jungle or tropical environments with a lot of insects, we can pick the ones we want to get rid of… and leave the rest of the ecosystem alone,” Ignatowicz said.
While the team is focussing on malaria, the method has the potential to be adapted in the fight to curb the spread of other diseases transmitted by insects or even rodents.
The next step is to start testing the method in the field.
Anders Lindstrom, a mosquito researcher at Sweden’s National Veterinary Institute who is not connected to the project, told AFP he was “cautiously optimistic” about the method, but said much work remains to be done.
“The problem is always scaling up. The areas that need to be covered with these types of traps to get an effect are huge,” Lindstrom explained.
Any method also needs to be applied consistently over time, which can be difficult in poor or conflict-hit areas where malaria is common.
“You can have a rather fast effect in reducing populations, but the moment you stop, they come back,” Lindstrom said.
ACCRA, GHANA (AP) – West African regional leaders imposed new sanctions on Sunday on Mali, suspending most commerce and financial aid to the country after its military rulers said they would stay in power for four more years instead of holding an election next month as promised.
In a veiled threat at possible military pressure, the regional bloc known as ECOWAS activated its standby force, saying it “will have to be ready for any eventuality”.
The sanctions mark the steepest consequences for Mali to date, and include land and air border closures with other countries belonging to ECOWAS, according to a statement released after a day-long meeting in Ghana’s capital.
The junta led by Colonel Assimi Goita initially had agreed to hold a new election in late February, 18 months after it first seized power. The military leadership now said the next presidential election will take place instead in 2026, giving Goita four more years in power.
In October 2021, Brunei Darussalam’s total trade was valued at BND2,268.4 million, an increase by 54.3 per cent from BND1,470.0 million during the same month last year.
Meanwhile, for month-to-month changes, total trade for October 2021 decreased by 3.3 per cent compared to September 2021.
Total exports increased by 159.8 per cent year-on-year to BND1,397.5 million compared to BND537.9 million in October 2020. This was mainly due to the increase in mineral fuels exports to BND1,103.7 million (October 2021) from BND442.3 million (October 2020), and chemicals exports to BND266.5 million (October 2021) from BND88.3 million (October 2020).
The increase in mineral fuels exports was largely due to an increase in the value of exports of crude oil, liquefied natural gas (LNG) and petroleum products from the downstream activities.
The increase in exports of crude oil was attributed to a significant increase in average price to USD85.40 per barrel (October 2021) from USD39.11 per barrel (October 2020). The increase in the exports of LNG was due to an increase in the average price to USD11.81 per MMBtu (October 2021) from USD5.51 per MMBtu (October 2020). The exports value of petroleum products from downstream activities increased to BND482.9 million (October 2021) from BND127.6 million (October 2020), of which the main commodity was automotive diesel fuels.
In terms of commodity by section, mineral fuels represents the major contributor to Brunei Darussalam’s exports (79.0 per cent), followed by chemicals (19.1 per cent), and machinery and transport equipment (0.8 per cent).
The main exports market in October 2021 was China (27.4 per cent) followed by Australia (24.1 per cent) and Singapore (21.0 per cent). The largest export commodity to China was chemicals followed by mineral fuels. Meanwhile, the largest export to Australia and Singapore was mineral fuels. For imports, the total value decreased to BND870.9 million (October 2021) from BND932.1 million (October 2020) mainly due to a decline in imports of machinery and transport equipment and chemicals.
The five main imports by commodity were mineral fuels (69.9 per cent), followed by machinery and transport equipment (9.3 per cent), food (6.4 per cent), manufactured goods (5.6 per cent) and chemicals (4.2 per cent). By End Use Category, imports of intermediate goods accounted for 56.7 per cent of the total imports, followed by capital goods (39.3 per cent) and consumption goods (4.0 per cent).
For imports by trading partners, the highest share was from Australia (17.5 per cent), followed by Japan (15.8 per cent), and Russia (13.4 per cent), with mineral fuels as the largest import commodity.
BEIJING (AP) – Asian stock markets were mixed yesterday after Wall Street fell on worries the Federal Reserve will raise interest rates as soon as March.
Shanghai and Hong Kong advanced. Seoul and Sydney declined. Japanese markets were closed for a holiday.
Investors were rattled last week after notes from the latest Fed meeting showed officials thought the United States (US) job market is healthy enough that it might no longer need ultra-low interest rates and other stimulus.
That was reinforced by US employment numbers on Friday that showed stronger-than-expected wages, though with only about half as much hiring as forecast.
The prospect of earlier rate hikes “suggests that markets could continue to be roiled by volatility”, Tan Boon Heng of Mizuho Bank said in a report.
The Shanghai Composite Index gained 0.2 per cent to 3,587.03 and the Hang Seng in Hong Kong advanced 0.7 per cent to 23,658.91.
The Kospi in Seoul fell one per cent to 2,926.72 and Sydney’s S&P ASX 200 lost 0.1 per cent to 7,447.10.
A woman walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange. PHOTO: AP
India’s Sensex added 0.5 per cent to 60,046.96. Bangkok was flat, New Zealand declined and Singapore and Jakarta advanced.
Investors were cautious after Fed officials said in December that plans to roll back ultra-low rates and other economic stimulus that has boosted share prices might be accelerated to cool US inflation now at a four-decade high. On Friday, Wall Street’s benchmark S&P 500 index fell 0.4 per cent to 4,677.03, or about 2.5 per cent below January 3’s record high.
The Dow Jones Industrial Average slipped less than 0.1 per cent to 36,231.66. The Nasdaq composite fell one per cent to 14,935.90.
Investors are pricing a better than 79 per cent probability that the Fed will raise short-term rates in March. A month ago, they saw less than 39 per cent of a chance of that, according to CME Group.
Record-low interest rates have helped to boost stock prices despite bouts of unease about the coronavirus pandemic.
The Fed already has slowed bond purchases that were pumping money into the financial system to push down commercial lending rates. Notes from its December meeting indicated Fed officials might to cut off such purchases more quickly than previously planned.
In energy markets, benchmark US crude rose nine cents to USD78.99 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 56 cents on Friday to USD78.90. Brent crude, used to price international oils, added nine cents to USD81.84 per barrel in London. It lost 24 cents the previous session to USD81.75.
The dollar gained to JPY115.81 from Friday’s JPY115.56. The euro declined to USD1.1329 from USD1.1362.
