China faces challenges as economy expected to grow by 7pc next year |
- China faces challenges as economy expected to grow by 7pc next year
- Malaysia’s year of disaster comes to a tragic close ― Adam Minter
- Asian stocks climb following Wall Street gains, euro unsteady before Greek vote
- EPL: West Bromwich Albion in trouble by Diouf double
- EPL: Everton’s bleak mid-winter now made even longer
- US, NATO formally end combat missions in Afghanistan
| China faces challenges as economy expected to grow by 7pc next year Posted: 28 Dec 2014 05:00 PM PST
"The growth of the world economy may recover slightly in 2015, but it will be difficult to see it fully recovering from weakness seen since the global financial crisis," the State Information Centre said. "As such, our country's economic growth will show a trend of gradual slowdown, and is forecast to grow around 7 per cent in 2015," it said in the report published in the official China Securities Journal. China's consumer price index (CPI) is expected to increase less than 2 per cent in 2015, compared with a forecast of more than 2 per cent this year, the think-tank said. Growth of exports is expected to improve slightly to 7 per cent from a forecast 6 per cent this year, it said. — Reuters  |
| Malaysia’s year of disaster comes to a tragic close ― Adam Minter Posted: 28 Dec 2014 04:57 PM PST DECEMBER 29 ― When the Indonesian authorities called off Sunday's search for AirAsia Flight QZ8501, lost flying between Subaya, Indonesia and Singapore, Malaysians could have been forgiven for feeling a sense of déjà vu. After all, it was only nine months earlier, on March 8, that they received word that Malaysia Airlines Flight 370 had gone missing, setting off months of on-again, off-again searches that ― so far ― have turned up nothing. At least briefly, QZ8501, flown on an Indonesian subsidiary of Kuala Lumpur-based AirAsia, felt like more of the same. There are, of course, notable, differences. QZ8501 has only been missing less than 24 hours and, unlike Flight 370, there's actually an immediate, reasonable theory about what might have happened to it (bad weather). But the fact that there's less mystery surrounding QZ8501 isn't much solace. In fact, many Malaysians are now trying to reckon with the fact that Malaysian-owned carriers will have been involved in the three worst air tragedies of the past year, including Malaysia Airlines Flight 17, shot down over the Ukraine. That's an unlikely status for any country, much less Malaysia, population 30 million, and hardly a global aviation power.
Indeed, if there's a single thread that runs from MH370 to QZ8501, it's the public relations efforts in the face of disaster. Even that aspect hasn't been entirely consistent. Malaysian authorities certainly didn't wish for the practice, but they've clearly become better and more transparent when responding to tragedy since the evasive, and sometimes incompetent, response to MH370. But better PR hasn't been able to change the central fact of the Malaysia Air tragedies ― that all the disasters have been shrouded in mystery. True, the wreckage of MH17 was found quickly, but despite widespread suspicion that Russian-supported rebels were responsible for shooting it down, so far there's been no official statement from accident investigators to support the claim. It doesn't help that Malaysia has largely been at the mercy of others to solve these aviation mysteries. The search for MH370 has been led by Australians, among others; the investigation of MH17 is being led by Europeans. That sort of dependence wasn't the best foundation for a confident response to the latest tragedy. The dominant emotion on Malaysian social media in the hours following yesterday morning's first news of QZ8501's disappearance was despair. Of the many responses perhaps none was more poignant than the one tweeted by Malaysia Airlines, AirAsia's fierce competitor. "#staystrong @AirAsia ― Our thoughts and prayers are with all family and friends of those on board QZ8501." ― Bloomberg View *This is the personal opinion of the columnist. |
| Asian stocks climb following Wall Street gains, euro unsteady before Greek vote Posted: 28 Dec 2014 04:55 PM PST
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent. Tokyo's Nikkei climbed 0.4 per cent and Australian shares rose 0.6 per cent. The Dow and S&P 500 both closed at new record highs on Friday after a broad rally. The euro stood little changed at US$1.2173 (RM3.8953), not far from its lowest since August 2012, at US$1.2165, hit the previous week. Greece faces a vote in parliament later today that will decide whether the country's leading coalition can gather enough votes to elect a president. If it fails, markets are concerned it may trigger a snap election that could bring the left-wing opposition Syriza party to power and derail an international bailout. Former European Commissioner Stavros Dimas, the candidate for the leading coalition, needs to garner 180 votes in parliament to become president. If Dimas is elected, the euro could bounce on relief as Greece can continue negotiations with its creditors, said Masafumi Yamamoto, a market strategist at Praevidentia Strategy in Tokyo. "On the other hand the euro could fall towards US$1.21 if the 180 votes are not secured, as the market will ponder the risk of the leftwing Syriza party, which is against fiscal reconstruction, taking power after a snap election next year," he said. The dollar was up 0.1 per cent at ¥120.420, remaining in sight of a 7-1/2 year high of 121.86 hit earlier in the month, but lacking enough momentum to challenge that peak. US crude oil rebounded on renewed tensions in Libya. A fire caused by fighting at one of Libya's main export terminals has destroyed more than two days of the country's oil production, officials said yesterday, as clashes escalated between factions battling for control of the OPEC member nation. US crude rose 1.5 per cent to US$55.53 a barrel after shedding 2 per cent on Friday. — Reuters |
| EPL: West Bromwich Albion in trouble by Diouf double Posted: 28 Dec 2014 04:54 PM PST
Former Manchester United striker Diouf struck twice in 15 second-half minutes at the Britannia Stadium to give Stoke back-to-back wins for the first time this season after Friday's 1-0 success at Everton. It was a third defeat in a row for West Brom, who have won only once in nine games, and follows Irvine's admission that he feared for his job at the Hawthorns. The defeat saw Irvine's side fall one place to 16th and left them just a point above the relegation zone ahead of a trip to high-flying West Ham United on New Year's Day. While Stoke manager Mark Hughes made only one change, replacing Jonathan Walters with Peter Crouch, Irvine drafted Brown Ideye, Chris Brunt, Graham Dorrans and Chris Baird into his starting XI. The visitors enjoyed the best of the first half but it was Stoke who went closest to breaking the deadlock, with Bojan Krkic fizzing a shot narrowly wide in the 14th minute. Bojan has been one of Stoke's most impressive performers in recent weeks and he was the catalyst for the home side's opening goal in the 51st minute. The former Barcelona forward sprayed a pass wide to Erik Pieters on the Stoke left and the Dutch full-back's low cross was in turned in by Diouf via a slight deflection off Joleon Lescott. Irvine responded with a double change, sending on Saido Berahino and Silvestre Varela, and saw his side hit the woodwork when Gareth McAuley stabbed a shot against the post following a goal-mouth scramble. But in the 66th minute Diouf claimed his second goal when he fortuitously deflected a shot from Marko Arnautovic past Ben Foster to leave Irvine cursing his luck once again. — AFP |
| EPL: Everton’s bleak mid-winter now made even longer Posted: 28 Dec 2014 04:45 PM PST
Cisse's fifth goal in six games sparked the recovery after Arouna Kone had found the net on his full Premier League debut for Roberto Martinez's Everton, an injury-ravaged 18 months after joining from Wigan Athletic. Cisse levelled before the interval and second-half goals from Ayoze Perez and Jack Colback enabled Alan Pardew's men to end a four-game losing streak. Substitute Kevin Mirallas gave Everton hope by reducing the arrears in the 84th minute from Leighton Baines's through-ball, but it was not enough to prevent Everton sliding to a third straight defeat. The Merseyside club have won just once in their last seven league games, losing five. Martinez made seven changes to the team beaten 1-0 by Stoke City on Boxing Day, notably handing a top-flight debut to England youth defender Luke Garbutt, and saw Everton take a fifth-minute lead. Aiden McGeady's channel ball cut out Yoan Gouffran and found Seamus Coleman making progress down the right. The Irishman sent over an inviting low cross and Kone swept home confidently from six yards. It was the Ivory Coast international's first goal since May 2013, his Goodison Park career having stalled after he suffered a serious knee injury that ruled him out for most of last season. Moussa Sissoko spurned a clear opening to draw Newcastle level, a heavy first touch allowing keeper Joel Robles to block as the midfielder bore down on goal from a Cisse flick. But the hosts drew level 11 minutes before the break, as their increasing pressure finally told. Cisse tussles with Coleman Cheick Tiote swapped passes with Colback and sent over a deep cross that Mike Williamson hooked back to Cisse, who made no mistake from close range. Cisse was perhaps fortunate to still be on the field at that point, having earlier caught Coleman in the throat with a flailing arm in an off-the-ball incident that went unseen by the match officials. Pardew's side ended the half in the ascendency, and it took a fine block from Sylvain Distin to deny Daryl Janmaat as the Dutch international latched onto Paul Dummett's knock-down from a Perez centre. Robles produced a fine save low to his left to keep out a Gouffran effort early in the second half, but Newcastle did not have to wait long before taking a 51st-minute lead. As with the first goal, Tiote was prominent in the build-up, finding Perez on the edge of the Everton area. The Spaniard turned and threaded a low shot through the legs of his marker Coleman and into the bottom-left corner past a rooted Robles. Samuel Eto'o should have equalised just after the hour, but the former Cameroon striker wasted some determined approach play from Baines by firing the defender's low cross wastefully over. They were made to pay with 23 minutes left as Newcastle stretched their advantage through Colback's first goal for the club. Janmaat's ball into the Everton area should have easily been cut out by Ross Barkley. But the substitute allowed the pass to reach Colback, a close-season signing from neighbours Sunderland, who rolled a left-foot shot past Robles. Cisse almost made it four soon after, only to be denied by Robles, but despite Mirallas giving the visitors hope, it was to prove immaterial. — AFP |
| US, NATO formally end combat missions in Afghanistan Posted: 28 Dec 2014 04:44 PM PST
About 13,000 foreign troops, mostly Americans, will remain in the country under a new, two-year mission named "Resolute Support" that will continue the coalition's training of Afghan security forces. The Afghan army and police are struggling to fight against Taliban militants who this year killed record numbers of Afghans. "Today marks an end of an era and the beginning of a new one," said US General John Campbell, commander of the International Security Assistance Force (ISAF), at the ceremony marking the end of the mission held at the ISAF headquarters in Kabul. "We will continue to invest in Afghanistan's future," Campbell said at the ceremony, during which he rolled up the coalition's flag. Since 2001, nearly 3,500 foreign soldiers have died in the Afghan war, including around 2,200 Americans. "Now, thanks to the extraordinary sacrifices of our men and women in uniform, our combat mission in Afghanistan is ending, and the longest war in American history is coming to a responsible conclusion," President Barack Obama said in a statement. The late al-Qaeda leader Osama bin Laden had strong relations with the Taliban, who let him and other members of his global militant network hide in Afghanistan. The Taliban have launched increasingly deadly attacks in the past year. Nearly 3,200 Afghan civilians were killed in the conflict between the militant group and the army in 2014, and more than 4,600 Afghan army and police died in Taliban attacks. For Afghanistan's new president, Ashraf Ghani, keeping government control of territory and preventing security from further deteriorating is a top priority. ISAF said it had withheld details of yesterday's ceremony until the last moment for fear the insurgents might attempt an attack with rockets or mortars. — Reuters |
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