logo
Ministerial visit reinforces Australia-Sarawak bilateral ties

Ministerial visit reinforces Australia-Sarawak bilateral ties

Borneo Post5 hours ago

Cahill (centre) receives a memento from the BCM representative Yasmin Khalid Nicholls (left), witnessed by Sarawak Australia Business Chamber chairman Rodger Chan. – Ukas photo
KUCHING (June 25): Australia's Northern Territory Minister for Trade, Business and Asian Relations, Robyn Cahill, arrived in Kuching yesterday for a four-day visit to Sarawak.
According to Sarawak Public Communications Unit (Ukas), the visit aims to strengthen bilateral ties between Sarawak and the Northern Territory of Australia, particularly in the aspects of tourism, culture, and community relations.
It also seeks to enhance diplomatic ties and foster greater social exchange between Sarawak and Australia.
Cahill began her itinerary with a visit to the Borneo Cultural Museum (BCM) at 11am, where she was briefed on the museum's collection that showcases the history and culture of Sarawak's diverse ethnic groups ― Dayak, Malay, Melanau, and Chinese communities ― through interactive exhibitions and heritage artefacts.
Cahill met Deputy Premier Datuk Amar Awang Tengah Ali Hasan at Wisma Sumber Alam yesterday, followed by a dinner hosted by Deputy Premier Datuk Amar Prof Dr Sim Kui Hian later in the evening. Awang Tengah Ali Hasan diplomatic ties lead Northern Territory Robyn Cahill

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Vietnam to remove death penalty for embezzlement, anti-state crimes
Vietnam to remove death penalty for embezzlement, anti-state crimes

The Star

timean hour ago

  • The Star

Vietnam to remove death penalty for embezzlement, anti-state crimes

FILE PHOTO: A Vietnamese flag flutters on the day Chinese President Xi Jinping visits the Ho Chi Minh Mausoleum during his visit to Hanoi, Vietnam, April 15, 2025. REUTERS/Athit Perawongmetha/Pool/File Photo HANOI (Reuters) -Vietnam will remove the death penalty for eight offences from next month, including embezzlement and activities aimed at overthrowing the government, state media reported on Wednesday. The National Assembly, the country's lawmaking body, unanimously ratified the amendment to the Criminal Code earlier on Wednesday to abolish the death penalty for the crimes, the official Vietnam News Agency reported. Other crimes that will no longer lead to the death penalty include vandalising state property, manufacturing fake medicine, jeopardising peace, triggering invasive wars, espionage and drug trafficking, the report said. The maximum sentence for these crimes will now be life imprisonment, it said. Those who were sentenced to death for these offences before July 1 but have not yet been executed will have their sentences commuted to life imprisonment, the report said. Ten offences will remain subject to capital punishment in Vietnam, including murder, treason, terrorism and the sexual abuse of children, according to the report. Capital punishment data is a state secret in Vietnam and it is not known how many people are currently on death row in the country. Lethal injection is the only method of execution after firing squads were abolished in 2011. (Reporting by Khanh Vu; Editing by David Stanway)

Asia markets stabilise, dollar droops following Middle East truce
Asia markets stabilise, dollar droops following Middle East truce

New Straits Times

time2 hours ago

  • New Straits Times

Asia markets stabilise, dollar droops following Middle East truce

TOKYO: Asian stocks stabilised on Wednesday as crude oil hovered near multi-week lows as a ceasefire between Israel and Iran buoyed sentiment, even as hostilities threatened to flare up again. The dollar wallowed close to an almost four-year trough versus the euro with two-year US Treasury yields sagging to 1 1/2-month lows as lower oil prices reduced the risk to bonds from an inflation shock. The shaky truce has so far held, although Israel says it will respond forcefully to Iranian missile strikes that came after US President Donald Trump had announced an end to the hostilities. In addition, US airstrikes did not destroy Iran's nuclear capability and only set it back by a few months, according to a preliminary US intelligence assessment, contradicting Trump's earlier comments that Iran's nuclear programme had been "obliterated". Japan's Nikkei and Australia's stock benchmark were flat, while Taiwan's index gained 1 per cent. Hong Kong's Hang Seng rose 0.6 per cent and mainland Chinese blue chips eased 0.1 per cent. US stock futures were little changed. An MSCI index of global stocks held steady after climbing to a record high overnight. Brent crude ticked up 81 cents to US$67.95 per barrel, bouncing a bit following a plunge of as much as US$14.58 over the previous two sessions. US West Texas Intermediate crude added 70 cents to US$65.07 per barrel. "Despite the cease fire between Israel and Iran appearing somewhat tenuous, the markets are shrugging it off," said Kyle Rodda, senior financial markets analyst at "Realistically, the markets don't care if a limited conflict comprised of mostly air strikes continues between the two countries," he said. "It's the prospect of a broader war, with deeper US intervention and an Iranian blockade of the Strait of Hormuz that really matters. And for now, the risks of that seem low." The two-year US Treasury yield dipped to the lowest since May 8 at 3.787 per cent. The US dollar index, which measures the currency against six major counterparts, slipped 0.1 per cent to 97.854. The dollar slipped 0.1 per cent to 144.70 yen. The euro added 0.1 per cent to US$1.1625, edging back towards the overnight high of US$1.1641, a level not seen since October 2021. Federal Reserve Chair Jerome Powell said on Tuesday that higher tariffs could begin raising inflation this summer, a period that will be key to the US central bank considering possible interest rate cuts. Powell spoke at a hearing before the House Financial Services Committee. Data showed that US consumer confidence unexpectedly deteriorated in June, signalling softening labour market conditions. Markets continue to price in a roughly 18 per cent chance that the Fed will cut rates in July, according to the CME FedWatch tool.

China auto industry inflates sales by exporting new cars as 'used
China auto industry inflates sales by exporting new cars as 'used

New Straits Times

time3 hours ago

  • New Straits Times

China auto industry inflates sales by exporting new cars as 'used

BEIJING/SHANGHAI: China's auto industry has inflated car sales for years through a burgeoning government-backed grey market that registers new cars right off the assembly line and then ships them overseas as "used" vehicles. These so-called "zero-mileage" cars have never been driven but are exported as used to markets like Russia, Central Asia and the Middle East. The practice allows Chinese automakers to show growth and offload inventory that would be difficult to sell domestically, according to a Reuters review of government documents and interviews with five auto dealers and traders. "This is the outcome of an almost four-year price war that has made companies desperate to book any sales possible," said Tu Le, Michigan-based founder of consultancy Sino Auto Insights. The practice only gained national attention after the boss of Chinese automaker Great Wall Motor criticised the sale of zero-mileage used cars within China in May. On June 10, the People's Daily condemned the practice. The paper, which often reflects the views of China's top Communist Party leadership, blamed such fake used cars for depressing prices during a severe domestic price war and called for "tough regulatory action" to restore order. Despite the criticism, the export of these fake used cars is actively encouraged by regional governments in China, according to a Reuters review of state media and government documents. Local authorities see the practice as crucial for meeting Beijing's ambitious economic growth targets. Reuters identified 20 local governments – including major export hubs like Guangdong and Sichuan – that expressed support for zero-mileage used car exports in publicly available policy documents. These include creating extra export licences, fast-tracking tax rebates, investing in export infrastructure, and funding trade networking events, documents showed. How the scheme works: As a new car rolls off the production line, an exporter purchases the vehicle from the automaker or dealer, registers it with a Chinese licence plate, and immediately labels it as second-hand for export. The automaker then books the sale and logs the revenue. Such support would make little sense outside China's centrally planned economy. But in China, meeting growth and employment targets can earn promotions or unlock more funding, while missing them can result in demotions of local officials. Because exporters both buy and sell the same vehicle, the transaction value is effectively doubled, allowing local governments to inflate gross domestic product statistics, two Chinese auto executives said. The practice is one sign that China's car industry – the world's largest – is producing more than it can sell domestically, fuelling a prolonged price war and intensifying global concerns about auto "dumping". Cui Dongshu, secretary general of the China Passenger Car Association, defended the practice during a panel discussion hosted by Tencent's news portal. He said it offered a workaround for reaching overseas markets that are hard to enter due to rising trade barriers. He added it helped satisfy demand in countries where Chinese brands had not yet established a foothold. Reuters contacted all the local governments mentioned in this article. None responded. China's State Council and commerce ministry did not respond to requests for comment. China's foreign ministry referred queries to "the department in charge" without elaborating. GOVERNMENT SUPPORT Local government backing takes many forms, such as simplifying paperwork, providing extra vehicle registration quotas, and offering free warehousing near China's borders, documents showed. In February 2024, Shenzhen's planning commission pledged to expand zero-mileage used car exports as part of a goal to export 400,000 vehicles of all types for the year. In neighbouring Guangzhou, authorities introduced a mechanism to speed up such exports by allocating additional vehicle registration quotas – otherwise restricted to combat traffic and air pollution. Xinmi, a district of Zhengzhou in Henan province, said in February it helped Xinjiasheng Supply Chain Management Co. Ltd "promote zero-mileage used car exports, in order to use exports to drive domestic sales." Reuters found a dozen local governments incorporating the practice into their strategic growth plans. Sichuan province said in an October policy document it helped create an "online export ecosystem for zero-mileage used NEVs" (new energy vehicles) via platforms such as Alibaba International, which now hosts 100 Sichuan-based used car sellers. Xinjiasheng Supply Chain Management and Alibaba did not respond to requests for comment. MARKET SHIFTS The practice emerged after China legalised used car exports in 2019. Since then, thousands of traders have been involved in labelling new vehicles as used to exploit the export channel, said Wang Meng, a consultant to the China Automobile Dealers Association. Of the 436,000 used passenger and commercial vehicles exported by China in 2024, 90 per cent are estimated to be zero-mileage, according to Wang. China overtook Japan as the world's largest new car exporter in 2023, shipping 6.41 million vehicles. About six per cent of these were zero-mileage used cars, Wang said. Dealers and experts said most zero-mileage used cars are petrol-powered and less appealing in China's increasingly EV-focused market. However, electric vehicles, which benefit from government subsidies, also make up a sizeable share. Chongqing-based Huanyu Auto entered the zero-mileage export business in 2022. "The returns were so good in 2022 and 2023 that we could earn 10,000 yuan (US$1,400) profit on a sedan bought for 40,000 yuan and sold in Central Asia," said William Ng, the firm's international market director. Criticism is building. On June 7, Zhu Huarong, chairman of Changan Automobile, urged a crackdown on such exports, warning it could "enormously damage Chinese brands' image" abroad. Changan did not respond to a request for further comment. Xing Lei, founder of US-based consultancy AutoXing, said the trend could make investors question Chinese automakers' sales figures. "How many are real or inflated? No one knows," Xing said. 'DUMPING' CONCERNS The growing number of new cars sold overseas as "used" is reinforcing fears that China is dumping state-subsidised vehicles into foreign markets, especially as US tariffs close one of its largest destinations. Several countries are starting to push back. Some worry the influx will overwhelm local dealers and confuse buyers. "We're definitely seeing friction and tension in markets where there are already manufacturers on the ground," said Michael Dunne, a consultant who tracks China's auto sector. In 2023, Russia banned zero-mileage used cars from brands with official distributors, affecting Chinese automakers like Chery, Changan and Geely, according to Heihe's commerce bureau. Geely declined to comment, while Chery and Changan did not respond. Other countries such as Jordan are tightening the legal definition of "used" by requiring longer post-registration or post-manufacture timelines before export. Ng of Huanyu Auto said competition from small-scale sellers and even influencers on platforms like TikTok is squeezing margins. "They used to sell vases and wine, and are now selling cars in the same way," he said. "This is chaos."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store