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Coronavirus complicates S. Korea flood response as hundreds gather in shelters

first_imgIn neighboring North Korea, state media warned of “torrential” rain, possible flooding, and high winds and waves.While the reports did not mention any specific damage, North Korea has historically been vulnerable to flooding.This year’s heavy rains come during the summer harvest season, raising concerns about food security.The rain appears to be hitting some of the major rice-growing areas of North Korea, and come as anti-coronavirus border closures restricted key agricultural supplies such as fertilizer from China, said Choi Yong-ho, research fellow at the Korea Rural Economic Institute in Seoul.”This flooding will have a negative impact for North Korea’s food supply,” he said. Topics : South Korean officials are working to keep more than a thousand people displaced by flooding safe and healthy with anti-coronavirus measures in place at crowded shelters as the government weighed declaring disaster zones on Wednesday.At least 15 people have been killed and more than 1,500 forced from their homes as 42 consecutive days of rain – South Korea’s longest monsoon in seven years – triggered floods and landslides.More than 1,146 people remained in temporary shelters set up in gyms and community centers as of Wednesday, the Ministry of the Interior and Safety said, with measures implemented at the facilities to prevent the spread of the coronavirus. Fabric enclosures were set up for families and individuals, with beds spaced apart to encourage social distancing.Local governments designated managers to check people’s temperatures and screen for any COVID-19 symptoms, and displaced residents were asked to wear masks and wash their hands, health authorities said.South Korea has reported 14,456 coronavirus cases, including 33 new cases as of midnight on Tuesday, with 302 deaths.Prime Minister Chung Sye-kyun told a meeting of government officials the health ministry should declare three provinces in northern South Korea as special disaster zones, which would entitle them to receive additional aid from the national government.last_img read more

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Swedish government appoints Green MP to succeed Peter Norman

first_imgSwedish prime minister Stefan Löfven, a Social Democrat, has confirmed Per Bolund as the minister for financial markets, replacing Peter Norman.Last month saw the Swedish population take part in a general election, with the left-leaning coalition falling short of a majority, but with Löfven still electing to form a minority government with the Green Party.Bolund, a Green Party MP, will also become the deputy minister of finance in the new Swedish government.In addition to the appointment of Bolund, Annika Strandhäll is set to become the new social security minister, and in turn will take over from Ulf Krister Petersson as the chairperson of the country’s independent pensions committee. The cross-party group helps form policy on the country’s pension system and was behind the reforms announced for the AP funds.Bolund will now oversee this reform, which the outgoing government announced would be reduced from five funds to three, after accepting recommendations from the independent committee.In 2011, the then government initiated a review into the structure of the AP fund system, including the viability of buffer funds AP1 through AP4, and private equity investor AP6.Bolund, 43, became an MP in 2006 for the Green Party and has since been the economic spokesman.Previously, he was a civil servant in the industry ministry.His predecessor, Norman, began the review of the AP system having previously been in charge of the AP7 fund.The reform of the funds has been a contentious issue in Sweden, with AP3 vice-president Gustaf Hagerud leaving the fund amid speculation about whether it would cease to exist.last_img read more

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MSCI finalises plan to quadruple China A-shares in indices

first_imgIndex provider MSCI has confirmed plans to increase the weight of China A shares in its indices from 5% to 20%, after consulting market participants.This will lift the pro-forma weight of A-shares in the MSCI Emerging Market index to 3.3%, from 0.7%.However, MSCI conceded it should make changes to its initial approach to increasing the number of Chinese stocks it counts in its benchmarks.Remy Briand, chairman of the MSCI index policy committee, said the implementation of an initial 5% inclusion of China A shares had been a “positive experience” for international institutional investors. He said it had fostered an appetite to further increase their exposure to China’s mainland equity market, leading to MSCI’s initial proposal in September last year.“The strong commitment by the Chinese regulators to continue to improve market accessibility, evidenced by, among other things, the significant reduction in trading suspensions in recent months, is another critical factor that has won the support of international institutional investors,” Briand added.However, MSCI has adapted how it intends to increase the number of A-shares within the index, moving from a two-stage to a three-stage process.The index provider said investors and other market participants had flagged that a two-stage process could incur “execution pressure on the implementation dates”.Additionally, a significant proportion of investors asked for mid-cap shares to be included in the MSCI indices jointly with the weight increase in large-cap shares, to allow for a smoother implementation. Source: Eastspring InvestmentsMichelle Qi, EastspringMichelle Qi, chief investment officer for China at Eastspring Investments, the Asian arm of Prudential, said MSCI’s move would increase demand from global asset managers in the next few years.Qi said inflows to the country’s stock markets were estimated to be $70-80bn (€61-70bn) in 2019, with an even larger inflow next year.By the end of 2018, according to statistics from the People’s Bank of China, foreign investors’ equity holdings stood at RMB1.15trn (€150bn), or 6.7% of A-share free-float cap, Qi said. This scale was already close to the equity assets under management of domestic mutual funds, the mainstream local players in the A-share market.“Accordingly, we will see stronger pricing power of foreign investors at onshore market,” she added. “Foreign investors’ investment thesis, research framework and stock pitching preferences have already had, and will continue to have, a growing impact on the A-share market going forward.”MSCI’s initial announced was followed by fellow index provider FTSE Russell. However, some, including ERI Scientific Beta, said they would not be doing the same, citing restrictions to the use of derivatives, limited capacity for rebalancing and the high number of stock-trading suspensions in the mainland Chinese market.last_img read more

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Indonesian President praises China’s role

first_imgEthiopian president hails China’s role in industrialization drive Related China’s President visits Boeng in US We sat down with Indonesian President Joko Widodo for an exclusive interview, to speak on the role of the Asian-African summit. Joko Widodo also spoke on the impact China can have through the meeting President Trump praises President El-Sisi’s leadershiplast_img

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Dean Foods files bankruptcy

first_imgDean Foods, America’s biggest milk processor, filed for bankruptcy on Tuesday stating a decades-long drop-off in U.S. milk consumption is to blame on changing trends and a growing variety of alternatives.The company said it may sell itself to the Dairy Farmers of America, a marketing cooperative owned by thousands of farmers.“Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption,” CEO Eric Berigause said in a statement.Since 1975, the amount of milk consumed per capita in the U.S. has tumbled more than 40%. Americans consumed around 24 gallons per year in 1996, according to government data. That dropped to 17 gallons in 2018.last_img read more

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Boxers Amit, Vikas enter semis

first_imgJakarta: Indian boxers Amit Panghal and Vikas Krishan notched up contrasting victories to enter the semi-finals of their respective weight categories at the 18th Asian Games here on Wednesday.Both of them thus ensured a spot on the podium for themselves as the losers in the last four stage are awarded bronze medals.In the quarter-finals, Amit overpowered Kim Jang Ryong of North Korea by a unanimous 5-0 decision in the men’s light flyweight (49 kilogram) category.Vikas faced a much tougher challenge against Tuoheta Erbieke Tanglatihan of China in the men’s middleweight (75kg) division. The Indian was stretched to the limit by his agile and technically strong opponent before eking out a narrow 3-2 win.In the semi-finals, Amit will take on Paalam Carlo of the Philippines while Vikas will face Kazakhstan’s Amankul Abilkhan.Later in the day, Dheeraj Rangi lost by a unanimous 0-5 verdict to Mongolia’s Chinzorig Baatarsukh in the light welterweight (64kg) quarter-finals.There was bad news for Indian fans in the women’s section as well since Sarjubala Devi lost 0-5 to Chang Yuan of China in the 51kg quarter-finals.Amit was far superior to his opponent and dominated all the three rounds. The bout saw a fast opening round with both boxers coming up with a repeated barrage of punches.Amit repeatedly used a low guard in an attempt to draw the Korean in and create gaps in his defence. At the same time, the Indian’s quickness and superior technique allowed him to maintain a strong defence. Vikas’ middleweight quarter-final bout saw a slow start with both boxers reluctant to be too adventurous, preferring to sit back and size up their opponent instead. (IANS)last_img read more

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FA mulls retrospective bans for diving

first_img(REUTERS) – The Football Association (FA) is considering introducing retrospective bans for players who dive, according to a media report.Diving came under the spotlight yet again after Hull City’s Robert Snodgrass won a spot-kick during a 3-3 draw against Crystal Palace last month and later conceded that the penalty should never have been awarded.The FA will send officials to Scotland to see how the punishment works there, according to the Times.“On the face of it, it’s a good idea. The devil is in the detail, but as a tool to penalise blatant simulation versus ‘did he dive or slip?’ it is now being investigated,” the newspaper quoted an unnamed FA official as saying.“It is being discussed with the SFA (Scottish Football Association) and some FA people are going up to Scotland for a meeting on how it is working.”Premier League managers, including Burnley’s Sean Dyche and West Bromwich Albion’s Tony Pulis, have called for retrospective bans to eradicate diving.last_img read more

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Infantino Speaks of ‘Unforgettable Memories’ from Nigeria Visit

first_imgFIFA President, Mr. Gianni Infantino, has written to the President of the Nigeria Football Federation (NFF), Amaju Pinnick, to express delight about “a host of unforgettable memories” during the recent two-day visit of himself and Secretary General, Fatma Samoura, to Nigeria.In a letter personally addressed to Pinnick, the world’s number one football administrator wrote: “The FIFA delegation has now returned to Zurich with a host of unforgettable memories and having made many cordial new friendships. On behalf of the entire FIFA delegation, I would like to take this opportunity to thank you for affording us such warm welcome. We all will keep wonderful memories of it forever in our hearts.“In just two days, we enjoyed so many memorable moments, culminating in the meeting with your head of state, H. E. President Muhammadu Buhari, and the visit to your headquarters and technical centre.” The FIFA President also recalled the Under-13 football match at the main-bowl of the National Stadium in Abuja and “the evenings we shared together with the Honourable Minister of Sports, Barr. Solomon Dalung, the members of the diplomatic corps present, the football community and the Nigeria corporates.“Finally, let me congratulate you on your engagement in developing football in Nigeria and all projects realised, creating a solid base for a positive future. Wishing you full success in the coming matches in Brazil at the men’s Olympic Football Tournament,” concludes Infantino’s letter.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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Tipperary trainer looks back on highly successful year

first_imgThis is despite the Fethard-based trainer also having won the most prestigious national hunt race in the calendar – the Cheltenham Gold Cup.Seven-year-old gelding ‘War of Attrition’ took the honours in the 2006 staging of the event at Prestbury Park.Mouse is still coming to terms with the wins achieved by ‘Rogue Angel’ and ‘Rule The World’ in the Spring.last_img

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Ruddock back for Leinster

first_imgRhys Ruddock returns from injury as one of four changes to the Leinster team for tomorrow’s Pro 14 game against the Cardiff Blues at the R-D-S.Jack Conan and James Tracey also come into the pack, while Luke McGrath will start at scrum half.Devin Toner will earn his 200th Provincial cap in the second row.last_img

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