Thai woman sentenced to 43yrs in jail for insulting monarchy
Russia's 2nd vaccine '100% effective', watchdog tells media
MP Christopher De Souza files Dover Forest motion
Coronavirus in Chinese ice cream raises new alarm
Amazon to host first Southeast Asia Seller Summit for small and medium-sized businesses to Start Local, Go Global
NewsAFP NewsAmazon Prime show agrees to changes after India Hindu outcry
The cast and crew of a popular streaming series starring Bollywood megastar Saif Ali Khan have agreed to "implement changes" to the show after ruling party politicians accused it of insulting Hindu gods.
NewsReutersSouth Korea may secure additional COVID-19 vaccines from Novavax, Moon says
South Korea may secure additional coronavirus vaccines for 20 million people from U.S. drugmaker Novavax Inc, President Moon Jae-in said, according to a statement from the presidential office on Wednesday. Novavax entered into a development and supply agreement for its vaccine with South Korea's SK bioscience Co last year, according to a statement in August. Moon visited SK bioscience's work site on Wednesday and said that the agreement between Novavax and SK bioscience "raised the possibility of securing vaccines for an additional 20 million people," the statement said.
NewsAFP NewsJapan plans mass virus jabs ahead of Olympics from May: reports
Japan aims to start vaccinating the general public against the coronavirus in May -- just two months before the postponed Olympics -- after targeted jabs for the most vulnerable, reports said Wednesday.
NewsReutersTaiwan cancels more events as local COVID-19 cases rise
Taiwan has cancelled or postponed more large-scale events after a rare outbreak of domestically transmitted COVID-19 cases connected to a hospital, where the military has been sent to help with disinfection. Taiwan, which has kept the pandemic well under control thanks to early and effective prevention methods, has been rattled by new domestic transmissions, first in December and now in a hospital in the northern city of Taoyuan. Until December, the island had not reported any local transmissions since April; all reported cases during that time were imported, which account for the vast majority of Taiwan's 868 infections.
BusinessAFP NewsAsia markets mostly up on hope for Biden recovery agenda
Asian investors pushed markets higher again Wednesday as they await the swearing-in of Joe Biden, while they have taken heart from comments by Treasury nominee Janet Yellen as she looks to push through the new president's stimulus proposals.
NewsAFP NewsTourism on track in the world's largest cave
Vast rock formations the size of multi-storey buildings loom above Ho Minh Phuc, as he picks a path through the gloom inside the world's largest cave.
NewsReutersChina's capital steps up COVID-19 measures as outbreak persists
China's capital Beijing said on Wednesday it will investigate all individuals who entered the city from abroad from Dec. 10 and shut down a subway station after reporting the biggest daily jump in new COVID-19 cases in more than three weeks. The National Health Commission said on Wednesday that a total of 103 new COVID-19 cases were reported on Jan. 19, down from 118 a day earlier. Beijing reported seven new cases, matching the total reported on Dec. 28.
PoliticsReutersSouth Korea's Moon taps ex-adviser as foreign minister in bid to revive North Korea talks
South Korea's president on Wednesday nominated a former national security adviser who was partly blamed for a failed summit between North Korea and the United States in 2019 as the country's next foreign minister. The nomination of Chung Eui-yong, 74, to replace Kang Kyung-wha as foreign minister was seen as a bid to help revive stalled denuclearisation talks with North Korea, just hours before Joe Biden takes office as the U.S. president. Chung had sought to mediate between the two countries as President Moon Jae-in's top security adviser, making a surprise announcement on the White House lawn in March 2018 that U.S. President Donald Trump would hold a summit with North Korean leader Kim Jong Un.
PoliticsReutersTrump seeks to curb foreign cyber meddling on last day in office
Outgoing President Donald Trump has signed an executive order aimed at thwarting foreign use of cloud computing products for malicious cyber operations against the United States, the White House said on Tuesday, Trump's last full day in office. The order, first reported by Reuters, gives the Commerce Department authority to write rules to bar transactions with foreigners in cloud computing products or services, if a foreigner uses them for cyber attacks. The order also requires the agency to write rules in six months for U.S. providers of Infrastructure as a Service, a type of cloud computing, to verify the identity of foreigners with whom they do business and keep certain records.
PoliticsAFP NewsYouTube extends ban on Trump channel ahead of inauguration
Google-owned YouTube on Tuesday confirmed it extended a ban on new video being added to US President Donald Trump's channel due to the potential for inciting violence.
PoliticsReutersTrump orders 18-month halt to removal of Venezuelans from the U.S
U.S. President Donald Trump on Tuesday ordered a halt to removal of certain Venezuelans from the United States for 18 months, citing conditions in the South American country. "The deteriorative condition within Venezuela, which presents an ongoing national security threat to the safety and well-being of the American people, warrants the deferral of the removal of Venezuelan nationals who are present in the United States," Trump, on the eve of leaving the White House, said in a memo to secretaries of state and homeland security.
NewsAFP NewsChoked-up Milan takes smoking ban outside
"It's about time they passed this law. We're fed up with this smoke!" declared Massimo Gabbiadini, a shopkeeper in Piazza del Duomo, after Milan banned smoking in many outdoor places.
BusinessReutersS.Korea's Kia says looking at electric car projects with multiple firms after Apple report
South Korean automaker Kia Corp said on Wednesday it's reviewing cooperation on self-driving electric cars with multiple foreign firms, making no mention of a report linking it to a project with tech giant Apple Inc. Kia's comment, issued in a regulatory filing as its shares surged nearly 20% in Seoul, came after domestic online publication Edaily reported late on Tuesday that Kia's parent, Hyundai Motor Group, had decided Kia would be in charge of proposed cooperation with Apple on electric cars. Hyundai Motor declined to comment.
PoliticsAFP NewsSocial media faces reckoning as Trump ban forces reset
Social media giants crossed a threshold in banning US President Donald Trump and an array of his supporters -- and now face a quandary on defining their efforts to remain politically neutral while promoting democracy and free speech.
BusinessSouth China Morning PostBlackstone, Carlyle, Bain among suitors fine-tuning bids for Asian distributor of Fancl’s beauty products ahead of Friday deadline
In crowded Hong Kong malls, shoppers can walk into local retailers and buy Fancl’s skincare and cosmetics products at knock-down prices, dramatically undercutting sales at branded Fancl stores throughout the city.Unofficial wholesalers of beauty products have been selling into Asian markets for years, but volumes surged during the coronavirus pandemic last year as they offloaded surplus stock. As a result, CMC Holdings, the sole legal distributor of Fancl in the region outside Japan is selling out.Sensing opportunity, private equity firms Blackstone, Carlyle, Bain Capital, Sequoia Capital, and Citic Capital are fine-tuning their bids for the distributor ahead of a deadline on Friday, people familiar with the matter said.Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.Their offers could peg the company’s value at somewhere between US$600 million and US$900 million.Chinese internet giants Tencent and JD.com as well as Japanese financial services group Orix are waiting in the wings to team up with the winner of the auction and craft a strategy for boosting sales in mainland China, the people said.A deal is likely to bring to an end a long-running dispute between Tokyo-listed Fancl Corp and CMC over the growing tide of cheap imports from Japan. The winner of the auction will probably need to broker an agreement with Yokohama-headquartered Fancl Corp to present a united front to wholesalers who are selling at a discount in Asia.It will also need to negotiate distribution contracts expiring for Hong Kong and China in 2026 and the rest of Asia at the end of 2029.The next owner of CMC could also hammer out a new growth strategy for the region after years of underinvestment stemming from disagreements between the partners over the imports and strategy. Fancl’s sales into mainland China could skyrocket with a refreshed e-commerce strategy, the people familiar said.The auction kicked off last year and attracted over a dozen bids. CMC and its financial adviser Morgan Stanley have since narrowed the field of suitors down to five.After Friday, only one or two will move forward to make binding bids and conduct due diligence. The final step would see one of these suitors signing a purchase agreement, probably before the end of February, the people said.Founded by Christopher Chan and his wife Michelle in 1996 with around HK$7.5 million (US$970,000 at Tuesday’s exchange rate), CMC Holdings now has over 250 points of sale in Asia outside Japan, spanning mainland China, Hong Kong, Macau, Singapore and Taiwan.The Chans discovered the Fancl brand, known for its preservative-free products, during a trip to Japan in the 1990s.For years, CMC has been able to charge a premium for Fancl products in Asia, and the rare home-grown start-up generated close to US$30 million in net income last year off revenues of about US$250 million. In more normal years, the company has recorded Ebitda of around US$60 million to US$70 million and net income of US$40 million to US$50 million.The Chans recognised that the region’s increasingly affluent consumers were embracing natural wellness products. Fancl’s preservative-free skincare and cosmetics chimed with this change in attitudes and the brand gained traction in the key China market.The Chans’ strategy was to build a loyal following who would pay a premium for the products, partly by employing skincare consultants who help customers establish a long-term skincare regime. The result is that around 75 per cent of its customer base is made up of repeat buyers.However, CMC’s ability to command a premium has gradually eroded because of the wave of so-called parallel imports from Japan. Industry sources estimate that about 2.5 times the volume of official sales via CMC are being sold via unofficial channels in Asia.A cross-shareholding between Tokyo-listed Fancl Corp and CMC Holding was ultimately unwound in around 2016.Founded by Kenji Ikemori in 1980, Fancl Corp’s wholesale revenues have grown from 14.6 billion yen (US$140 million) in the financial year to March 2016 to 23.6 billion yen in the year to March 2020.Fancl products are stocked on the shelves of Sa Sa International Holdings, Hong Kong’s biggest cosmetics retailer as well as Japanese discount chain Don Don Donki. Don Don Donki said in September that it would double the number of Hong Kong outlets to six by early 2021.The winner of the auction could expand Fancl’s presence across the region. For instance, Carlyle and Citic Capital have successfully rolled out fast-food chain McDonald’s across China. Bain Capital has expanded South Korean beauty brands Carver and Hugel in China. Carlyle and Bain also have a long-standing presence in Japan.A final structure for the deal has yet to be decided. Chan could remain as a minority shareholder or sell out entirely.Credit Suisse is advising Blackstone while Nomura is advising Carlyle.More from South China Morning Post: * Hong Kong falls off global real estate investors’ radars even as they eye more assets in Asia-Pacific * Li Ning pays £51 million for Clarks as Chinese companies keep up their global shopping spree for marquee brandsThis article Blackstone, Carlyle, Bain among suitors fine-tuning bids for Asian distributor of Fancl’s beauty products ahead of Friday deadline first appeared on South China Morning PostFor the latest news from the South China Morning Post download our mobile app. Copyright 2021.
NewsAFP NewsReducing air pollution 'could prevent 50,000 EU deaths'
Limiting air pollution to levels recommended by the World Health Organization could prevent more than 50,000 deaths in Europe annually, according to research published Wednesday that called for urgent action.
ScienceAFP NewsButterflies create jet propulsion with a clap of their wings
The whimsical, wafting flight of butterflies may not give the impression of top aerodynamic performance, but research published on Wednesday suggests their large flexible wings could be perfectly designed to give them a burst of jet propulsion.
NewsReutersDeep in remote Amazon, indigenous villagers receive coronavirus vaccine
Brazilian military flew medical personnel and 1,000 doses of a Chinese vaccine deep into the Amazon rainforest on Tuesday to start inoculating indigenous people against the coronavirus. Isabel Ticuna, 68, was the first to receive the vaccine in Umariaçu, a village of wooden houses on the banks of the Amazon River. "I was so worried, but this D-Day has arrived finally after so many deaths here and in the world," said Tarcis Marques Ticuna, the village medic.
PoliticsAFP NewsBiden health nominee would be highest-ranking transgender official
US President-elect Joe Biden on Tuesday announced transgender pediatrician Rachel Levine as his nominee for assistant health secretary, in a "historic" move contrasting to policies of Donald Trump's often seen as discriminatory.
NewsReutersItaly's Conte survives close Senate vote, vows to forge ahead
Italian Prime Minister Giuseppe Conte narrowly won a confidence vote in the upper house Senate on Tuesday, allowing him to remain in office after a junior partner quit his coalition last week in the midst of the raging COVID-19 pandemic. However, Conte failed to secure an absolute majority, meaning he now heads a minority government that will struggle to implement its policy programme at a time of severe national emergency. Having overcome a similar confidence motion in the lower house on Monday, Conte won in the 321-seat Senate by 156 to 140, with 16 abstentions.
PoliticsReutersAn emotional Biden bids farewell to Delaware on his way to White House
U.S. President-elect Joe Biden became emotional during a brief farewell ceremony in Delaware on Tuesday before heading to Washington for his inauguration, choking back tears as he reflected on his long journey to the White House and remembered his son. Biden thanked friends and family who had gathered to see him off at a National Guard center named after his son Beau - whose death from cancer in 2015 contributed to then-Vice President Biden's decision not to seek the White House in 2016. "When I die, Delaware will be written on my heart," said Biden, his voice shaking with emotion.
PoliticsAFP NewsBiden State pick backs Trump's 'tougher approach' on China
Antony Blinken, President-elect Joe Biden's nominee to be secretary of state, said Tuesday he agreed with the tougher US stance on China under Donald Trump that the outgoing leader hailed in his farewell remarks.
NewsAFP NewsIsrael extends Covid lockdown despite vaccination drive
The Israeli government decided Tuesday to extend the country's coronavirus lockdown to the end of the month after a spike in infections, despite an intensive vaccination campaign.
PoliticsAFP NewsUS passes 400,000 deaths from Covid-19
More than 400,000 people have died from Covid-19 in the United States since the pandemic began, according to Johns Hopkins University on Tuesday, the eve of the presidential inauguration of Joe Biden, who has made the fight against the coronavirus a priority of his first term.
NewsAFP NewsArgentina begins administering second Sputnik V doses
Argentina's government began administering second doses of the Russian Sputnik V coronavirus vaccine Tuesday after receiving another shipment of 300,000 shots at the weekend.
