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Hong Kong’s Apple Daily Newspaper Says It May Shut Down

By
Zoe Maven
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Hong Kong’s embattled pro-democracy newspaper Apple Daily on Monday said its board of directors has asked authorities to unfreeze some assets so it can pay salaries and avoid labor violations.

Apple Daily said in an article on its website on Monday that if its board decides on Friday to cease operations of the newspaper, its website could stop publishing as soon as early Saturday morning, and Saturday’s print edition of the newspaper would be its last.

An internal department memo sent to some employees at Apple Daily also stated that those who wish to resign immediately could do so.

Last week, Police arrested five top editors and executives of Apple Daily under the city’s tough national security law on suspicion of foreign collusion, searched and its offices froze $2.3 million worth of assets of three companies linked to the newspaper.

The arrests and freezing of assets came as Hong Kong authorities crack down on dissenting voices as Beijing tightens control over the territory in what critics say is an erosion of freedoms it promised the city for 50 years when the former British colony was handed over to China in 1997.

Apple Daily has been outspoken in defending Hong Kong’s freedoms, and in recent years has often criticized the Chinese and Hong Kong governments for limiting the city’s democratic freedoms as well as constricting the rights of free speech and assembly.

The Security Bureau said it would not comment on the details of the case because legal proceedings were ongoing. It said endangering national security is a “very serious crime.”

Iranian President-Elect Refuses To Meet With Biden

By
Zoe Maven
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Iran’s president-elect says he will not meet with President Joe Biden, whose administration seeks to reinstate the nuclear agreement with the nation that was signed during the Obama administration and revoked by President Donald Trump.

Ebrahim Raisi, formerly the chief of Iran’s judiciary, said on Monday that he is unwilling to negotiate over the proliferation of his country’s nuclear weapons program.

He instead urged the U.S. to ease pressures imposed on top officials and the Iranian economy.

Iranian Foreign Minister Javad Zarif previously indicated that there was no interest among the country’s leadership for direct meetings between top U.S. and Iranian officials and implicated sanctions

Meanwhile, representatives from both countries were scheduled to meet days later in Vienna, Austria, to discuss complying with the nuclear deal.

White House press secretary Jen Psaki expressed a more optimistic view ahead of the Vienna negotiations, describing it as a welcome and potentially constructive early step.

Raisi, who himself is subject to U.S. sanctions in part for his involvement in a “death commission” responsible for the execution of thousands of political prisoners in 1988, also addressed his role in the executions by calling himself a “defender of human rights” during the Monday press conference.

One In Five Restaurants In S. Korea Now Using Food-Delivery Apps

By
Angel Gimalo
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Hand holding mobile with Order food with blur restaurant background, Order food onine business concept.

Since the start of the pandemic, more restaurants in South Korea have been offering delivery services and new data shows that nearly one in five restaurants in the country now use food-delivery apps.

According to the Ministry of Agriculture, Food and Rural Affairs on Monday almost 20% of restaurants used delivery apps last year up 8.7% points compared to the previous year.

The number of Japanese restaurants that used these apps soared by more than 27% points on-year and usage by bakeries also went up by 26% points.

By sales restaurants with higher revenues tended to use delivery apps.

But delivery apps were only used by 6.4% of restaurants that had sales of less than 44, 000 dollars.

On average, restaurants paid about 300 U.S. dollars a month in delivery app fees up 13.3% on-year.

Through this the country’s largest delivery app company, Bae-min, saw its revenue soar last year to about 965, 000, 000 U.S. dollars.

This is up about 95 percent compared to the previous year.

The company saw an operating profit of 51, 000, 000 dollars, and a net profit of 18.8 million dollars.

South Korea: More First-Time Home Buyers Eligible For Preferential Housing Loans

By
Angel Gimalo
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In South Korea, from July, more people applying for a mortgage to buy their first home will be able to get preferential benefits, including being able to borrow more money at a better rate of interest.

Previously, married couples had to have a combined income below 70, 000 U.S. dollars to qualify for the benefits, but this limit has been raised to about 79, 000 dollars.

One of the benefits is that the loan-to-value ratio is 10 to 20 percentage points higher, meaning that people can borrow a larger slice of their property’s value.

But housing loans are still limited to around 350, 000 dollars.

The government has also revised lending rules for under-34s and newly-weds who are borrowing money for “jeonse”, or paying a large deposit to lease a house.

The first 61, 000 of loans for “jeonse” used to have a maximum interest rate of roughly two percent, but now the first 88, 000 dollars will get this preferential rate.

Additionally, the government commission fee will shrink from zero-point-zero-five percent to zero-point-zero-two percent.

These changes are expected to help about five thousand more young people find a place to live.

Tokyo Olympics To Allow Up To 10,000 Local Spectators

By
Angel Gimalo
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Japan will allow up to 10, 000 local spectators in venues when they host the Olympics.

According to the organizing committee officials and the IOC, a limit of 50 percent capacity will be set.

The president of local organizing committee, Seiko Hashimoto, said it’s important to acknowledge any uncertainty amid the pandemic and that fans will no longer be allowed should a state of emergency be imposed.

Fans from overseas were banned several months ago, and local spectators will be prohibited from cheering.

The Tokyo games are set to open on July 23rd.

Businesses In South Korea Getting Back To Normal

By
Angel Gimalo
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With the new eased COVID-19 restrictions announced last Sunday, cafes, restaurants and bars are looking forward to having more customers.

“So far… only private gatherings of up to four people have been allowed… but starting July first, people can meet in groups of up to six people.”

And, this will be raised to eight people eventually… after a two-week trial period in the Greater Seoul area.

“Due to current limits on private gatherings, there were a lot of difficulties running a business. But with the revised restrictions, we are hoping that this will help. I think our customers can eat with more freedom.”

Under the new social distancing guidelines next month, the current five-tier scheme will be switched to a four-tier scheme.

The capital will start under the new level two social distancing… meaning groups of 8 can meet, and restaurants, coffee shops, and bars can stay open until midnight.

This means bars in the Greater Seoul area will be able to operate for two hours longer… which gives this bar owner a busier schedule.

“Two more hours of being open means more time to have customers. Sales nearly doubled when previous changes were made from 9 PM to 10 PM. We are expecting to see as high sales as it used to be before pandemic.”

He added that he will prepare more chairs for customers to sit for next month.

However, the health authorities are still on alert… urging the public to keep wearing masks at indoor facilities even under social distancing level o

What Abuja Land Swap initiative means for real estate sector, investors

By
Henry Williams
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Once again, investors and the federal capital territory administration (FCTA) Abuja are back to the table following approval for resumption of the ambitious Land Swap Initiative by the federal executive council (FEC) early last week.

The Abuja Land Swap initiated by the Bala Mohammed administration was valued then at N1 trillion. It is the short form of the ‘FCT Land Infrastructure Swap Initiative’ designed to address the infrastructure deficit in the FCT.

In simple terms, the initiative means engaging the private sector to provide infrastructure in exchange for land. The aim, essentially, is to open up new districts in the FCT by constructing and completing access roads to those districts.

Apart from freeing government land for economic activities such as real estate and industrial development, the initiative also solves one of the major problems of urban or city development which is the provision of a good network of roads and associated infrastructure.

It is also an answer to real estate sector development in Nigeria where investors and property developers estimate the cost of infrastructure at 30 percent of total construction cost.

The implication is that the initiative will not only increase housing stock, but also reduce house price, and ultimately bridge the housing demand-supply gap in the country put variously at 17, 20 and 22 million units, depending on who one is speaking to.

Again, Emirates bans Nigeria flights, extends South Africa route suspension

By
Henry Williams
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Dubai’s Emirates airline said passenger flights to and from Nigeria (Lagos and Abuja) are suspended with effect from June 21 until further notice.

Customers travelling to and from Lagos and Abuja will not be accepted for travel, and those who have been to – or connected through – Nigeria in the last 14 days will not be permitted to board from any other point to the UAE.

Emirates’ also said that flights from South Africa will remain suspended until July 6, in line with government directives that restrict the entry of travellers originating from South Africa, into the UAE.

Daily passenger flights to Johannesburg will operate as EK763, but outbound passenger services on EK 764 remain suspended. Customers who have been to or connected through South Africa in the last 14 days will not be permitted on any Emirates flights bound for Dubai.

The airline had on Saturday announced that it would be resuming flight operations in Nigeria from June 23rd.

Angelina Jolie visits refugees in Burkina Faso

By
Henry Williams
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Hollywood star Angelina Jolie criticized the international community’s response to militant violence in the Sahel as she visited Malian refugees at a camp in Burkina Faso. Nneka Chile has more.
Hollywood actor Angelina Jolie was in Burkina Faso on Sunday (June 20).

As a special envoy for the U.N.’s refugee agency, Jolie was visiting the Goudoubou camp.

It’s a home for those who fled violence in neighboring Mali.

“I am honored, and I am grateful to be among you and I bow my head in respect for your courage and for your strength.”

The Sahel region has suffered escalating violent attacks by militants linked to al Qaeda and Islamic State.

Thousands have been killed and millions displaced.

Jolie criticized the international community’s response.

“So it is to that we are at a breaking point, we are broken, the way the international community try to address this conflict and insecurity is broken, it is erratic, it is unequal, it is built on inherited privilege, it is subject to the whim of political leaders and it is geared towards the interests of powerful countries, including my own, at the expense of others.”

The refugees in Goudoubou, who escaped insecurity in Mali, have found similar circumstances in Burkina Faso.

Earlier this month 132 residents of a village near the border with Niger were killed by insurgents.

Ouanka Cisse fled Mali in 2012 and now lives in the camp with his 26 family members.

“Since I arrived in Burkina Faso, I’m afraid even in Goudebou. We don’t sleep at night, it’s really hard. Burkina as well as Mali is unstable.”

US, EU And Britain Slap Sanctions On Belarus Officials, Companies

By
Angel Gimalo
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FILE PHOTO: Belarusian President Alexander Lukashenko is seen during a meeting with Russian President Vladimir Putin in Sochi, Russia May 28, 2021. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS/File Photo

The United States, the European Union and Britain imposed sweeping sanctions on Belarusian entities and officials on Monday and called on Minsk “to end its repressive practices against its own people”.

The allies together with Canada also told the administration of President Alexander Lukashenko to cooperate with investigations into the forced landing of a Ryanair jet there in May and the arrest of a reporter and his girlfriend on board.

The coordinated action reflected growing Western frustration over Belarus which plunged into crisis last year when street protests erupted over what demonstrators said was a rigged presidential election.

There was no immediate reaction from Lukashenko who has so far ridden out the storm with a crackdown, denied rigging the vote and accused the journalist Raman Pratasevich of plotting a revolution.

The veteran leader has increasingly turned to Russia for support.

The European Union said it was imposing travel bans and asset freezes on 78 officials and entities including the Belarusian defence and transport minister and its air force commander as well as judges and lawmakers.

The bloc said it was also drawing up economic sanctions that Austria said would “tighten the thumbscrews” on the Belarusian government.

The U.S. Treasury Department in a statement said it blacklisted 16 people and five entities in response to the Lukashenko government’s “escalating violence and repression,” including nthe forced landing of the flight.

The U.S. action targeted close associates of Lukashenko, the Treasury said, including his press secretary and the chairperson of the Council of the Republic of the National Assembly, the Belarusian Parliament’s upper house.

Britain said it was adding several senior Belarusian officials and entities, including an exporter of oil products, to its sanctions list.

Belarusian opposition figure Sviatlana Tsikhanouskaya welcomed the announcements. “The European Union decided they deserve these sanctions,” Tsikhanouskaya told reporters in Brussels. “I agree … We have to end the situation in our country, we don’t want it to become North Korea.”

Belarus sovereign dollar bonds tumbled on Monday in response to the announcements.

The benchmark 2030 bond slumped more than 3 cents – its biggest fall since the global market COVID rout in March last year – and the 2031 bond issued in June last year hit a record low, Tradeweb data showed.

EU states are also soon set to impose economic sanctions on Belarus’ financial, oil, tobacco and potash sectors, after a provisional deal was agreed on Friday.

The EU imported 1.2 billion euros’ ($1.5 billion) worth of chemicals including potash from Belarus last year, as well as more than 1 billion euros’ worth of crude oil and related products such as fuel and lubricants. Belarus also relies on loans from European commercial and development banks.

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