Page 2 n THE ASIAN REPORTER
ASIA / PACIFIC
May 20, 2019
Indian company buys famous U.K. toy retailer Hamleys
LONDON (AP) — An Indian company says it has agreed to take over the
famous toy retailer Hamleys. Reliance Brands in Mumbai said in a statement
that it would buy Hamleys Global Holdings, the owner of the Hamleys brand,
from C Banner International of Hong Kong for an undisclosed sum. The deal
would include the flagship Hamleys store on London’s Regent Street, which
opened in 1881 and remains a tourist attraction in the British capital. Hamleys
was founded in 1760 and has 167 stores in 18 countries. Reliance Brands already
had the franchise for 88 Hamleys stores in India. Reliance Brands chief
executive Darshan Mehta said the acquisition places the company in the
“forefront of global retail.” It is part of Reliance Industries, whose chairman is
Indian tycoon Mukesh Ambani.
Malaysia cuts interest rate for first time in three years
KUALA LUMPUR, Malaysia (AP) — Malaysia’s central bank has cut interest
rates for the first time in nearly three years to help support growth and counter
risks from a global slowdown, trade tensions, and extended weakness in
commodity prices. Bank Negara Malaysia said it decided to reduce its overnight
policy rate, used by banks to calculate interest rates, to 3.0 percent from 3.25.
The rate was last cut by a quarter-basis point to 3.0 percent in July 2016, but was
raised back to 3.25 percent in January 2018. The central bank forecast the
economy will expand between 4.3 and 4.8 percent this year. It said in a
statement that there are signs of tightening of financial conditions and that the
rate adjustment was to “preserve the degree of monetary accommodativeness.”
World’s biggest beer maker looks to list shares in Asia
BRUSSELS (AP) — AB Inbev, the world’s biggest brewer and the owner of
brands like Bud and Stella Artois, is considering listing some of the shares of its
Asian business on the Hong Kong stock exchange. The company, which is based
in the Belgian town of Leuven, said the move would lower its high debt levels and
allow it to consider more acquisitions in the region. AB Inbev is worth about
$172 billion and its Asian operations are reportedly worth as much as a third of
that. It owns massive brands like Bud from its takeover of Anheuser-Busch in
2008, as well as Corona, Becks, and Fosters. It further established its dominance
in the market in 2015 when it bought it next biggest rival, SABMiller.
Perdue barbecues to sell Japan on buying more U.S. beef
TOKYO (AP) — U.S. Agriculture Secretary Sonny Perdue has picked up his
barbeque tongs to convey his message to Japan: Buy more American beef.
Perdue said that as a top consumer of U.S. beef, Japan should treat the U.S.
fairly. He said he hoped U.S. President Donald Trump and Japanese Prime
Minister Shinzo Abe will strike a trade deal during his boss’s visit to Japan.
Japan’s limits on imports of meat and other farm products have been a recurring
issue in years-long trade talks with the U.S. The Trump administration worries
that Japan will buy more from other nations that have signed trade deals with
Japan in recent years, such as Australia and Europe. Japan, a country of 126
million, is the fourth largest market for U.S. agricultural products.
Philippines recalls envoys in Canada over trash shipments
MANILA, The Philippines (AP) — The Philippine foreign secretary says the
ambassador and consuls in Canada are being recalled over Ottawa’s failure to
take back truckloads of garbage that Filipino officials say were illegally shipped
to the Philippines years ago. President Rodrigo Duterte threatened to forcibly
ship the containers of garbage back to Canada and dump some at its embassy in
Manila. More than 100 containers of household trash, including plastic bottles
and bags, newspapers, and used adult diapers, were shipped from 2013 to 2014.
Malaysian PM says no timetable for handing over power
PUTRAJAYA, Malaysia (AP) — A year after his election victory, Malaysian
Prime Minister Mahathir Mohamad has defended his government’s record but
gave no timetable for handing over power to his successor, Anwar Ibrahim.
Mahathir says there were hiccups in pushing through some reforms because of
insufficient support in parliament for the required constitutional changes. The
93-year-old Mahathir has said he needed two years to fix the country’s problems
after ousting a scandal-plagued government. Uncertainties over the timing of
the handover rattled some investors who fear it could disrupt the economy.
Mahathir told foreign journalists that he is an “interim prime minister,” but
there was no fixed period for him to leave. He said the transition will be smooth
as any changes by Anwar will “not be radical.”
LOVE WINS. Same-sex marriage supporters gather outside the Legislative Yuan in Taipei, Taiwan. Taiwan’s legislature
has voted to legalize same-sex marriage, a first in Asia and a boost for lesbian, gay, bisexual, and transgender rights activ-
ists who have championed the cause for two decades. The signs in the photo read “Vote Can’t Be Defeated.” (AP Photo/
Chiang Ying-ying)
Taiwan approves same-sex
marriage in first for Asia
By Ralph Jennings
The Associated Press
AIPEI, Taiwan — Taiwan’s legislature
has voted to legalize same-sex
marriage, a first in Asia and a boost for
lesbian, gay, bisexual, and transgender
(LGBT) rights activists who have championed
the cause for two decades.
Lawmakers pressured by LGBT groups as
well as church organizations opposed to the
move approved most of a government-
sponsored bill that recognizes same-sex
marriages and gives couples many of the tax,
insurance,
and
child-custody
benefits
available to male-female married couples.
That makes Taiwan the first place in Asia
with a comprehensive law both allowing and
laying out the terms of same-sex marriage.
“It’s a breakthrough, I have to say so. I could
not imagine that could happen in just a few
years,” said Shiau Hong-chi, professor of
gender studies and communications manage-
ment at Shih-Hsin University in Taiwan.
“Taiwan’s action today should sound a
clarion call, kicking off a larger movement
across Asia to ensure equality for LGBT people
and pro-active protection of their rights by
governments throughout the region,” Phil
Robertson, deputy Asia director for Human
Rights Watch, wrote on Twitter. “No more
excuses!”
Thousands of people, including same-sex
couples, demonstrated in the rainy streets
outside parliament before the vote. Many
carried rainbow-colored placards reading “the
vote cannot fail.” About 50 opponents sat
under a tent outside parliament and gave
speeches favoring marriage between only men
and women.
Taiwan’s Constitutional Court in May 2017
said the constitution allows same-sex
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marriages and gave parliament two years to
adjust laws accordingly.
The court order mobilized LGBT advocacy
groups pushing for fair treatment, as well as
opponents among church groups and
advocates of traditional Chinese family values
that stress the importance of marriage and
producing offspring.
Religion, conservative values, and political
systems that discourage LGBT activism have
stopped
momentum
toward
same-sex
marriage in many Asian countries from Japan
through much of Southeast Asia, although
Thailand is exploring the legalization of
same-sex civil partnerships.
Taiwan’s acceptance of gay and lesbian
relationships began in the 1990s when leaders
in today’s ruling Democratic Progressive Party
championed the cause to help Taiwan stand
out in Asia as an open society.
Although claimed by China as its own terri-
tory, Taiwan is a self-governing democracy
with a vibrant civil society dedicated to pro-
moting rights for sexual and ethnic minorities,
women, the handicapped, and others.
Ruled by the authoritarian Communist
Party, China remains much more conservative
and officials have repeatedly discouraged even
the discussion of legalizing same-sex
marriage.
Opponents in Taiwan raised fears of incest,
insurance scams, and children confused by
having two mothers or two fathers. Both sides
of the issue have held colorful street
demonstrations and lobbied lawmakers.
In November 2018, a majority of Taiwan
voters rejected same-sex marriage in an
advisory referendum. However, legislators
favoring the bill, and voting separately on each
item largely along party lines, said it followed
the law as well as the spirit of the referendum.
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Two climbers die, one missing on Mount Kanchenjunga
KATHMANDU, Nepal (AP) — Two Indian climbers on Nepal’s Mount
Kanchenjunga fell sick and died during attempts to rescue them while a Chilean
climber is missing, according to an expedition organizer. Pasang Sherpa of Peak
Promotion in Kathmandu said one of the Indian climbers had scaled the world’s
third tallest peak while the other was on the way up but fell sick and died. They
were believed to be suffering from high altitude sickness and had frostbites, he
said. The climbers identified as Biplab Baidya, 48, and Kuntal Kanrar, 46, fell ill
just below the 8,586-meter (28,160-foot) summit. Other details were not
available but Sherpa said attempts would be made to bring their bodies down —
a difficult and exhausting task because of the steep icy slope and low levels of
oxygen. Chilean Rodrigo Vivanco was also reported missing around the same
area. Sherpa said they are searching for him. Hundreds of foreign climbers and
their guides attempt to scale high Himalayan peaks during the popular spring
climbing season in Nepal that begins around March and ends this month.
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Asian Currency
Exchange Rates
Units per U.S. dollar as of 5/17
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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83.76
4049.9
6.9182
2.1358
7.8496
70.278
14484
42024
109.87
8630.4
4.175
113.05
147.5
3.377
52.635
64.711
3.7497
1.3766
1192.8
175.83
31.321
31.83
23221