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  • Asia News Military-dominated Burma to chair Asean in 2014

    Military-dominated Burma to chair Asean in 2014

    Military-dominated Myanmar will chair Southeast Asia’s regional bloc in 2014, officials said Thursday, despite concerns from human rights groups that the country’s democratic reforms have not gone far enough. The chairmanship is supposed to rotate annually among the 10 members of the Association of Southeast Asian Nations, also known as Asean. But Myanmar, which has more than 2,000 political prisoners, was forced to skip its turn in 2006 because of intense criticism of its rights record. It has since held [...]

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  • Asia News Korea to invest 35.5 trillion won in green energy technology

    Korea to invest 35.5 trillion won in green energy technology

    South Korea, the world’s ninth- largest greenhouse gas emitter, plans to spend 35.5 trillion won ($31 billion) by 2020 to develop technology for renewable and nuclear energy and carbon emissions reduction. The investment is part of the nation’s road map to grab a 10 percent share of the world’s clean-energy market and have one of the world’s top five energy industries by 2020, the Ministry of Knowledge Economy said in an e-mailed statement. South Korea wants to build its capabilities [...]

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  • Asia News Korea secretly pursuing missile development: sources

    Korea secretly pursuing missile development: sources

    North Korea is known to have conducted a test on a long-range missile`s engine combustion and an air-to-ship missile fire drill, part of Pyongyang`s dual-track strategy of pursuing dialogue and saber rattling at the same time, experts say. Multiple sources said Wednesday that the North tested the engine combustion of its long-range Taepo-dong missile at a launch site in Musudan-ri, North Hamkyong Province. The South Korean government has reportedly been closely watching movements of the Stalinist country since the test. [...]

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  • Asia News Taiwan sees 1st woman presidential candidate

    Taiwan sees 1st woman presidential candidate

    Democratic Progressive Party (DPP) Chairwoman Tsai Ing-wen is Taiwan’s first female presidential candidate, and recent polls suggest the 54-year-old scholar has a good chance of becoming the island’s first female President. Ms Tsai has a razor-thin lead over President Ma Ying-jeou, who is seeking a second term. Ms Tsai is soft spoken and moderate and these characteristics have salvaged the DPP’s image, once marred by Chen Shui-bian’s corruption scandal. Under her leadership, the pro-independence DPP scored two out of five [...]

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  • Asia News HK credit growth risks bad loans: IMF

    HK credit growth risks bad loans: IMF

    Hong Kong’s “rapid” credit growth has increased the risk that banks make bad loans as the city faces a potential recession if the European crisis deepens, the International Monetary Fund said. “Credit has been growing at an extraordinary pace, particularly for loans in foreign currency,” the IMF said in a report released today. Such growth may “lead to a worsening of average credit quality” and create “strains on bank funding,” it said. The US Fed’s pledge to keep borrowing costs [...]

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  • Asia News Made in Japan’ brand at crossroads

    Made in Japan’ brand at crossroads

    The “Made in Japan” brand is at a crossroads as more firms face a tough choice over whether or not to move production overseas to escape the impact of the relentless rise of the yen, say analysts. According to the Ministry of Economy, Trade and Industry, some 46 percent of large manufacturers it surveyed in August said they would move production bases abroad if the yen stays around JPY 76 against the dollar for half a year. Currently near JPY [...]

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  • Asia News Japan says rice near damaged nuclear plant contaminated

    Japan says rice near damaged nuclear plant contaminated

    Rice with radiation levels exceeding Japan’s safety standards was found for the first time since the March earthquake and tsunami triggered the world’s worst nuclear accident in 25 years, the country’s farm ministry said on Wednesday. Japan’s normal rice harvest in autumn has been closely monitored near the nuclear accident site at Fukushima in northeast Japan after excessive levels of radiation were found in beef, vegetables and seafood in the area. Crops harvested in a Fukushima farmer’s rice paddy were [...]

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  • Asia News Tibetan regions of China under virtual ‘martial law,’ monk says

    Tibetan regions of China under virtual ‘martial law,’ monk says

    A leading Tibetan monk claimed Wednesday that China has now put its most restive region under undeclared martial law. The claim comes as a wave of self-immolations is sweeping Tibetan areas in China’s Sichuan province. Eleven monks, former monks and nuns have set themselves on fire since March to protest what they claim is China’s increasingly heavy-handed repression in Tibetan areas. Six of them have been declared dead – and nothing is known of the other five, Kyabje Kirti Rinpoche, [...]

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  • Asia News Asian shares fall on euro zone contagion fears

    Asian shares fall on euro zone contagion fears

    Asian shares and the euro fell on Wednesday as signs that rising borrowing costs were affecting AAA-rated France stirred fears that even core euro zone members may not escape contagion from the region’s debt crisis. The political outlook remained unclear in struggling Italy and Greece as they attempt to push through severe austerity measures needed to get bail-out funds and win market confidence. Prime Minister designate Mario Monti was expected to unveil Italy’s new government on Wednesday. MSCI’s broadest index [...]

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  • Asia News Taiwan to see 3-way presidential race

    Taiwan to see 3-way presidential race

    Taiwan’s presidential elections officially became a three-way race, after the Central Election Commission verified James Soong’s eligibility. The chair of the People First Party had nearly half a million signatures endorsing his candidacy. Although he is likely to get the fewest votes, Soong is considered the biggest wild card for the January elections. Soong was defeated in the 2000 presidential elections and again in 2004, while running as vice president He declared his retirement from politics, after losing the 2006 [...]

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