Asia News Today | Japanese yen drops to a seven year low

Nearly 9,000 soldiers from the Philippines and US are taking part within the largest-ever joint military drills as the 2 longtime allies do some high-level sabre-rattling amid recent tensions within the disputed South China Sea. Filipino and American troopers will participate within the 12 day military exercises across the principle Filipino island of Luzon. Philippine military chief welcomed soldiers from the US and across the region at yesterday’s opening ceremony in Manila saying that the biggest show of Balikatan struggle games reflected the “deepening alliance” between the US and Philippines. The workouts will cover maritime security, humanitarian assistance, disaster reduction, amphibious operations and counter-terrorism. Manoeuvres have been focussed on potential conflict within the South China Sea, which China claims nearly in its entirety. Since taking energy in 2016, outgoing President Duterte has pivoted to China however has faced pushback from voters who stay cautious of China’s territorial ambitions within the disputed waters.

The Japanese yen has dropped to a seven year low as the Bank of Japan pushed again towards the global development for tighter monetary policy. The transfer has proved hypothesis that the Japanese central bank may intervene and up the native currency for the first time since 1998. The yen dropped more than 2 per cent towards the US greenback yesterday with traders anticipating even more drops ahead. It has already fallen more than 7 per cent against the USD up to now this month. Now currency analysts in Tokyo say that their purchasers had been asking if the speedy slide within the yen could trigger some intervention by the ministry of finance for the primary time since 1998. Such a transfer would mark a shift for the Bank of Japan, which has a protracted record of solely intervening to weaken the yen.

Indonesian nationwide energy company PT Pertamina is considering buying crude oil from Russia because it seems all over the world for oil for a newly revamped refinery. Speaking at a parliamentary listening to, the company’s CEO says that Pertamina noticed “an alternative to purchase from Russia at an excellent worth.”She stated to the listening to that, politically, there was no problem as lengthy as the company we’re dealing with was not sanctioned. She also shared that PT Pertamina had also discussed the payment arrangement, which can undergo India. Indonesia holds the G20 presidency this 12 months and says it’ll stay impartial amid the Russia-Ukraine battle, which has sparked the most important humanitarian and geopolitical crisis in Europe since World War Two. But the Indonesian government has raised numerous considerations about the invasion however has stopped short of condemning it.

South Koreans are really beginning to get into espresso. Such that imports of coffee surged greater than 24 percent in 2021 to hit a new all-time excessive. The worth of South Korean coffee imports stood at US$ 916 million final 12 months, up 24 percent from the 12 months before. It’s the first time that South Korea’s coffee imports clicked over the 1 trillion-won level when it comes to the native foreign money. Last year’s consumption of espresso was up nearly 13 times in comparability with 20 years ago. I’ll drink to that.

A member of the Vietnam PMs Vietnam economic advisory group says Vietnam isn’t pushing itself sufficient as a safe tourist vacation spot despite having one of the highest vaccination coverages within the area.He says that Vietnam is “still timid and not likely assured in reopening”.He directed a lot of his criticism at Vietnam’s Ministry of Culture, Sports & Tourism saying the Ministry must have a clearer, extra proactive roadmap that tells the world that Vietnam is a safe destination and ready to welcome again foreign vacationers.He said…. Vietnam has been far too cautious as it reopens tourism. Vietnam has up to now offered a visa-free coverage for residents from simply thirteen countries for a most of 15 days.He mentioned that the Vietnamese authorities ought to grant visa exemption to more international locations and extend the keep of tourists to lure extra travellers back to the country.Citizens from solely Belarus, Denmark, Finland, France, Germany, Italy, Japan, Norway, Russia, South Korea, Spain, Sweden, and the UK can visit Vietnam for up to 15 days without a visa.The country additionally has bilateral visa exemption coverage for ASEAN co-members, Chile and Kyrgyzstan.

Savings between Malaysia and Singapore is about to return to near-normal from this Friday when the 2 countries officially open their land borders to all travellers. The Transport Minister famous that this can apply to public buses, categorical buses, vacationer buses, employee buses and taxis. Starting April 1, both countries will permit all totally vaccinated travellers to cross the land border with out having to endure quarantine or current any Covid exams. Just a notice to foreign travellers eager to cross the Malaysian Singapore border…. You’ll need to ensure you have the MySejahtera app in your smartphones and that they meet all pre-determined travel conditions. Travellers out of Singapore also needs to have the Singapore equal. Check the small print earlier than you travel in the early days of the border re-opening.

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