Trade commerce

India remains North Korea's 2nd-largest import source after China, according to several estimates by multilateral bodies, says Subhayan Chakraborty. IMAGE: Performers in traditional dress chat during the opening ceremony of a new dock at the North Korean port of Rajin. India remains North Korea's 2nd-largest import source after China. Photograph: Yuri Maltsev/Reuters Of the more than $36 billion worth of refined petroleum exported by India in 2017-18, a small trickle worth $16 million, managed to find its way to North Korea, despite economic sanctions currently in place. It constituted the largest component of India's exports, measuring a significant $57.55 million to the country, something that policy experts feel may only increase now that the nation has agreed to neuter its nuclear weapons program. While official statistics from North Korea are hard to come by due to the ruling regime's limited contact with the larger global economy, India remains North Korea's … [Read more...] about The intriguing tale of India’s trade with North Korea

BANDAR SERI BEGAWAN: For the world’s largest floating water village, Kampong Ayer in Brunei’s capital has a relatively low profile. The elaborate series of stilted houses, walkways and bridges stand stubbornly, time beaten, across the Brunei River from the gleaming towers and mosques of modern Bandar Seri Begawan. The cry of boatmen at sunset grows louder as the men of their trade in long wooden vessels built to buzz over the choppy surface. From shore to shore it takes just 28 seconds, they testify. But taking that journey itself is to traverse time. Kampong Ayer was once the beating heart of the country, its original foundation and the centre point for trade, commerce and travel. Today it is still home to thousands of buildings including schools, mosques and police stations. Crooked wooden boardwalks link many of the 35 separate villages, typically named after former residents or their craft. Jetties protrude from each forming a transport system that has operated in … [Read more...] about Brunei’s Kampong Ayer ripe for rejuvenation on back of tourism

REUTERS: The U.S. government has been slow to approve licenses for American companies like Lam Research and Applied Materials to sell chipmaking equipment to China semiconductor giant SMIC, even as a global shortage has supercharged chip demand, several sources said. Licenses for U.S. suppliers to ship much of an estimated US$5 billion dollars' worth of parts and components still have not come through, industry sources said, though many companies sought them soon after the company was blacklisted in December. Certain licenses have been granted, including for small numbers of expensive equipment in recent days. As policy shifts under President Joe Biden, who took over from Donald Trump in January, U.S. government agencies led by new appointees still haven't completely decided what should be sold to Semiconductor Manufacturing International Corp, which produces chips for Qualcomm and other American companies. The Trump administration placed SMIC on the U.S. Department of … [Read more...] about Exclusive: US suppliers to Chinese chip giant SMIC slow to get export licenses

Armed with little more than a smartphone and a dream, inexperienced cryptocurrency investors in Vietnam are hoping to hit it big with Pi – a cryptocurrency that can be mined from a phone. As the crypto-craze in Vietnam continues being fueled by skyrocketing bitcoin prices and overnight millionaires, investors in the country are looking for low-barrier avenues to make their own fortunes on digital currency. Enter Pi, a relatively new digital token that can be mined through the Pi Network app, advertised as “breakthrough tech [that] allows you to mine [Pi] on your phone without draining your battery.” Unlike conventional cryptocurrency mining, which involves the use of significant computer power to verify the legitimacy of transactions in order to earn tokens as a reward, obtaining Pi only requires 'miners' to log into the application and tap a button every few hours. With such a low barrier to entry, Pi mining has pulled in scores of Vietnamese crypto-newbies in recent weeks. … [Read more...] about Nothing to lose: Vietnamese crypto investors rest hopes on unlisted coin

SINGAPORE: Even as "considerable strides" have been taken towards a more united, resilient and innovative ASEAN, it is just the beginning of a new and exciting chapter for the 10-member regional grouping, Prime Minister Lee Hsien Loong said on Thursday (Nov 15). Speaking at the closing ceremony of the 33rd ASEAN Summit, Mr Lee stressed the importance of continuing to uphold the ASEAN-centric frameworks, and engaging its partners to keep the region open and inclusive. "We must stay on the course of economic integration and pool our talents and resources to improve our peoples' lives," he said. "And despite our individual national interests, we must continue to think regionally and invest political capital in the ASEAN project." Mr Lee officially handed over the chairmanship of ASEAN to Thailand at the ceremony. In his speech, Mr Lee also thanked ASEAN members and external partners for their "strong support" in making the vision of a resilient and innovative ASEAN … [Read more...] about ‘Considerable strides’ taken towards more united, resilient and innovative ASEAN, says PM Lee