NANNING: Rail-sea intermodal transportation has brought Southeast Asian commodities to more Chinese cities and regions over the past year, rail and port authorities in Guangxi Zhuang Autonomous Region, a gateway to Southeast Asia, said today.
Over 700 trains have plied on China-ASEAN rail-sea routes, which have been expanded to link inland Chinese cities including Chongqing, Chengdu, Kunming, Lanzhou, and Guiyang, according to China Railway Nanning Group.
The route network also covers Singapore and other major ports in the Association of Southeast Asian Nations (ASEAN) countries, said Beibu Gulf Port Group based in Guangxi, an important transit location.
Commodities traveling on the rail-sea routes also expanded from ceramics and sheet materials to 41 categories including powdered milk, coconut milk, and wine, said the port group.
An important part of the New International Land-Sea Trade Corridor (ILSTC), the rail-sea routes use ports in Guangxi’s Beibu Gulf to offer a faster and cheaper freight transport option between western China and Southeast Asia. The ILSTC was renamed from the China-Singapore Southern Transport Corridor launched last year.
Guangxi is an important border area that connects China with ASEAN countries and plays a key role in the construction of the Belt and Road Initiative, proposed by China in 2013 to build trade and infrastructure networks connecting Asia with Europe and Africa based on ancient land and maritime trade routes.
Envoys briefed about Pulwama attack
ISLAMABAD: Envoys from African & Shanghai Cooperation Organisation (SCO) member states have been briefed on Pakistan’s position apropos Pulwama attack here today.
Talking to the Envoys, Foreign Secretary Tehmina Janjua commented on New Delhi’s accusation and termed it a knee-jerk’ reaction: “deliberate anti-Pakistan frenzy is being spurred in India”, she said.
Dr. Faisal held: “Baseless Indian allegations and aggressive rhetoric are counterproductive and a threat to regional peace”.
Foreign Office Spokesman took to the twitter to maintain: “Pakistan desires normalization of resolutions with Indian Prime Minister Imran Khan and after his inauguration. Pakistan will take two steps if India takes one for normalization of ties. India canceled the agreed meeting between two FMs on UNGA sidelines on baseless pretexts…India owes an explanation on reports of Adil Ahmed Dar’s arrest and custody since 2019. India needs to introspect and respond to questions about its security and intelligence lapses that led to this attack…”
7 militants dead in clash in N. Afghanistan
MAIMANA: Seven militants were killed and four others injured as clash erupted in Garziwan district of Afghanistan’s northern Faryab province on Saturday, an army spokesman in the northern region Mohammad Hanif Rezai said.
According to the official, the clash erupted early morning after the militants attacked some security checkpoints, and security forces retaliated forcing the militants to flee after leaving seven bodies behind, and four others injured. There were no casualties on security personnel, the official said.
Asian Bourse: Falling Yen lets Tokyo stocks open higher
TOKYO: Stocks here opened slightly higher today, underpinned by a lower yen and gains in US shares on optimism over US-China trade talks.
The benchmark Nikkei 225 index, which closed at a two-month high on Wednesday, added 0.18 percent or 37.77 points to 21,182.25 in early trade. The broader Topix index was up 0.23 percent or 3.67 points at 1,593.00. “Japanese stocks will likely test their rebounding power (from lows around the turn of the year) thanks to continued gains in US shares and the yen’s drop,” Okasan Online Securities said in a note.
The market is “prone to profit-taking out of caution” after the Nikkei rose more than 800 points in the past two days, it added. Wall Street stocks rose for a second straight session Wednesday with investors betting that talks this week in Beijing between the top US and Chinese officials will help avert new US tariff actions scheduled for 1st March.
The greenback was changing hands at 110.93 yen early Thursday, up from 110.61 yen when the Tokyo market closed the previous day. A lower yen is positive for Japanese exporters as it makes their products more competitive outside Japan and also inflates profits when repatriated. Nintendo rose 0.25 percent to 30,070 yen and Honda climbed 1.43 percent to 3,044 yen. But Nissan was down 0.23 percent at 936.1 yen ahead of new Renault boss Jean-Dominique Senard’s meeting with officials from the Japanese automaker.
Former Nissan chief Carlos Ghosn on Wednesday shook up his legal team as he vowed to vigorously defend himself against financial misconduct charges. Investor reactions were muted to Japan’s growth data, released early Thursday, which fell within market expectations. It showed the world’s third-largest economy expanded 0.3 percent in the final quarter of 2018 after taking a hit from a series of natural disasters earlier in the year.