Page 2 n THE ASIAN REPORTER
ASIA / PACIFIC
March 6, 2017
Four richest Indonesians wealthier than poorest 100 million
JAKARTA, Indonesia (AP) — A report on inequality in Indonesia says its four
richest men now have more wealth than 100 million of the country’s poorest
people. The report by Oxfam said Indonesia, with a population of more than 250
million, has the sixth-worst inequality in the world. Within Asia, only Thailand
is more unequal. It blames “market fundamentalism” that has allowed the
richest to capture most of the benefits of nearly two decades of strong economic
growth, concentration of land ownership, and pervasive gender inequality. The
investment returns on the wealth of just one of the four richest, which according
to the Forbes rich list include cigarette tycoons Budi Hartono, Michael Hartono,
and Susilo Wonowidjojo, would eliminate extreme poverty in a year. The report
said extreme poverty of less than $1.90 per day in income has declined sharply
since 2000, but 93 million Indonesians still live on less than $3.10, which is
defined by the World Bank as the moderate poverty line. Oxfam said social
instability could increase if the government doesn’t tackle the gap between rich
and poor.
Rohingya activist says 1,000 refugees returned to Myanmar
YANGON, Myanmar (AP) — About 1,000 members of the Rohingya ethnic
minority who fled Myanmar (also known as Burma) during its army’s
four-month counterinsurgency operation have returned to their villages in
Rakhine state after the government announced it was halting military
operations in the area, according to activists in Bangladesh. The army’s
campaign began in October after nine police officers at outposts on the border
with Bangladesh were killed. Human-rights groups said the army burned down
more than 1,000 homes and killed an unknown number of civilians, among other
abuses. About 70,000 Rohingya villagers fled to Bangladesh and 20,000 fled
within Myanmar. More than 100,000 Muslim Rohingyas have been forced to live
in squalid displacement camps after communal violence with members of the
country’s Buddhist majority in 2012. The estimated 1 million Rohingya face
official and social discrimination and are generally denied citizenship, even if
their families have lived in Myanmar for generations.
Minister appeals to Washington to avoid ‘trade war’
BEIJING (AP) — China’s commerce minister has appealed to Washington to
negotiate disputes with Beijing and avoid a “trade war” that he warned would
hurt both sides. Gao Hucheng, responding to a question about U.S. President
Donald Trump’s promise to raise taxes on Chinese imports, said at a news
conference the two governments should work together to promote trade. Gao
said a trade war “should not become an option.” He appealed to Washington to
“properly solve” disputes through “dialogue and cooperation.” Trump promised
during his election campaign to raise import duties on Chinese goods to 40
percent, but has yet to take formal action. He also promised to declare Beijing
improperly manipulated the exchange rate of its yuan to give its exporters a
price advantage, which would open the way to other sanctions.
Hong Kong Disneyland posts 2016 loss on tourism softness
HONG KONG (AP) — Hong Kong Disneyland has posted a wider annual loss
as attendance by mainland Chinese tourists dropped amid a softer tourism
market. The park said it lost 171 million Hong Kong dollars ($22 million) on
revenue of HK$4.8 billion for its most recent financial year, which ended
October 3. Some 6.1 million people visited the park last year. That’s down from
the previous year, when it drew 6.8 million people and lost HK$148 million.
Visitors from mainland China, a key market for the resort, accounted for 36
percent of total attendance in 2016, down from 41 percent the year before. Resort
owners, The Walt Disney Co. and the Hong Kong government, which has a 53
percent stake, last year announced a $1.4 billion expansion for the park, which
has been criticized for being too small and having too few big-ticket rides. The
expansion project, scheduled to begin next year, will add new themed areas
based on the movie Frozen and Marvel superhero characters and an attraction
based on the film Moana as well as renovations to the park’s castle. However,
Disney’s board and Hong Kong lawmakers need to approve the funding. Hong
Kong is also working to improve its competitiveness as an Asian tourism
destination following last year’s launch of Shanghai Disneyland, which raised
concerns it would siphon off mainland visitors.
Money-losing Toshiba to sell medical leasing unit to Canon
TOKYO (AP) — Embattled Japanese electronics maker Toshiba Corp. is
selling its stake in a medical equipment leasing company to Canon Inc. for 31.4
billion yen ($277 million). Toshiba said it is selling its entire 65 percent stake in
Toshiba Medical Finance Co. to Canon, a Japanese camera maker, effective
March 31. Tokyo-based Toshiba has been in talks with Canon since late last year
on the sale. Toshiba, which owns U.S. nuclear company Westinghouse, is in deep
trouble after suffering massive losses in its nuclear business. It has been selling
off lucrative businesses such as its computer-chip operations. It is projecting a
712.5 billion yen ($6.3 billion) loss for its nuclear business and has been unable
to report April-December financial results. Its chairman resigned to take
responsibility for the mess. Toshiba has already sold part of its chip business; its
president said it is thinking about selling all of it to get out of the massive red
ink. It has also sold its household appliance unit to Midea of China, which is
maintaining the Toshiba brand name. Toshiba has also had its reputation
tarnished in recent years by a scandal over the doctoring of accounting books to
meet unrealistic profit targets.
BYE-BYE, BAO BAO. A worker feeds U.S.-born giant panda Bao Bao after her arrival at the Chengdu Panda Breed-
ing Research Center in Chengdu, China. Bao Bao was born at the National Zoo in Washington, D.C. to panda parents on
loan from China. Under an agreement between China and the U.S., such panda cubs must be returned to China before
they turn four years old, the earliest age at which they might begin breeding. The three-year-old landed in the city of
Chengdu in Sichuan province after a 16-hour flight on a Boeing 777 emblazoned with a picture of a giant bamboo-
eating panda. (AP Photo/China Conservation and Research Center for the Giant Pandas, HO)
U.S.-born panda Bao Bao lands
in China after leaving D.C. zoo
BEIJING (AP) — An American-born panda
has started settling into her new home in
southwest China where she’ll eventually join a
breeding program.
Bao Bao was born at the National Zoo in
Washington, D.C. to panda parents on loan
from China. Under an agreement between
China and the U.S., such panda cubs must be
returned to China before they turn four years
old, the earliest age at which they might begin
breeding.
The three-year-old landed in the city of
Chengdu in Sichuan province after a 16-hour
flight on a Boeing 777 emblazoned with a
picture of a giant bamboo-eating panda. She
was accompanied by veterinarian panda
keeper Marty Dearie from the National Zoo,
which had put on six days of commemorations
to mark her departure.
Transported to the nearby Dujiangyan
panda breeding base, Bao Bao emerged from
her crate looking somewhat timid and curious,
but soon settled in with a snack of fresh
bamboo, according to a news release from the
China Conservation and Research Center for
Giant Pandas.
Bao Bao, whose name means “precious” or
“treasure,” will first go through a month-long
quarantine at the Dujiangyan base, the
research center said. Keepers will monitor her
diet, activities, and health during that time,
including checking her blood and feces, it said.
“Once Bao Bao the panda completes this
month of quarantine, she’ll go on display to the
public and I welcome everyone to come see her
then,” research center expert Li Desheng was
quoted as saying in the news release.
An enclosure of 1,100 square feet was
prepared for her at the base. It has indoor and
outdoor play areas, is equipped with rubber
balls and a tire swing for entertainment, and
has fresh bamboo and apples for eating.
Keepers will work on helping Bao Bao adapt
to local bamboo and Chinese steamed bread
made from corn, soybeans, rice, and eggs, the
official Xinhua News Agency said.
She is the 11th panda to be born overseas
and returned to China, and since she does not
understand commands in Chinese, she’ll be
looked after for a time by an English-speaking
keeper, Xinhua said.
China’s unofficial national mascot, giant
pandas live mainly in the mountains of
Sichuan, with some also found in neighboring
Gansu and Shaanxi provinces.
They have long been considered one of the
world’s most endangered animals, although
last year a leading international group
lowered their classification to “vulnerable.”
The
International
Union
for
the
Conservation of Nature cited conservation
efforts that helped the wild panda population
jump to 1,864 in 2014 from 1,596 in 2004.
However, the Chinese government rejected
the group’s decision, saying the panda’s status
was no less serious because its natural
habitats have been splintered by human and
natural causes.
More than 200 giant pandas also live in
captivity.
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Asian Currency
Exchange Rates
Units per U.S. dollar as of 3/03
Bangladesh Taka· ·
Cambodian Riel · ·
China Renminbi · ·
Fijian Dollar · · · ·
Hong Kong Dollar ·
Indian Rupee · · · ·
Indonesian Rupiah ·
Iranian Rial · · · ·
Japanese Yen · · ·
Laos New Kip · · ·
Malaysian Ringgit ·
Nepal Rupee · · · ·
Pakistani Rupee · ·
Papua N.G. Kina · ·
Philippine Peso· · ·
Russian Ruble · · ·
Saudi Riyal· · · · ·
Singapore Dollar · ·
South Korean Won ·
Sri Lankan Rupee ·
Taiwan Dollar · · ·
Thai Baht · · · · ·
Vietnam Dong · · ·
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79.38
4065.0
6.904
2.092
7.763
66.805
13383
32404
114.04
8115.6
4.4542
106.9
104.8
3.2758
50.38
58.237
3.7503
1.4107
1157.8
151.25
31.05
35.024
22744