Day: September 10, 2024

Kuala lumpur: Malaysia, the world’s second-largest palm oil producer, has reported higher palm oil stocks in August amid higher production and lower exports.

The industry regulator Malaysian Palm Oil Board (MPOB) data showed on Tuesday that Malaysia’s palm oil stockpile stood at 1.88 million tons in August, up 7.34 percent from previous month.

Meanwhile, crude palm oil production climbed 2.87 percent month on month to 1.89 million tons in August.

Malaysia’s palm oil exports, however, fell 9.74 percent month on month to 1.53 million tons during the month.

Its palm oil imports also declined by 4.9 percent month on month to 9,970 tons.

Source: The Namibia News Agency

Tokyo: A former accountant of a faction within Japan’s ruling Liberal Democratic Party (LDP) on Tuesday received a two-year prison sentence, suspended for five years, for underreporting income from fundraising events.

Hitoshi Nagai, 70, was responsible for accounting in the faction previously led by Toshihiro Nikai, a former LDP secretary general. The Tokyo District Court issued the verdict on Tuesday, following Nagai’s admission of guilt during his initial hearing in June.

According to the indictment, Nagai failed to report about 380 million yen (2.7 million U.S. dollars) in income and expenditures over five years up to 2022.

Despite his actions, Nagai’s defense argued that he was not motivated by personal gain, which contributed to the court’s decision to suspend the sentence.

At the end of last year, the LDP’s slush fund scandal unfolded and five major factions, including Nikai’s, were suspected of paying kickbacks to member lawmakers who sold fundraising party tickets above their quota without recordi
ng the amount as revenue in its political fund reports.

Local media reports showed that prosecutors earlier this year indicted 11 individuals, including accountants and lawmakers, on suspicion of failing to report political funds.

Source: The Namibia News Agency

Beijing: China’s top legislature on Tuesday started a regular session to review a raft of bills including a draft revision to the National Defense Education Law and a draft amendment to the Statistics Law.

Zhao Leji, chairman of the 14th National People’s Congress (NPC) Standing Committee, presided over the first plenary meeting of the committee’s 11th session.

Lawmakers reviewed the draft revision to the National Defense Education Law. The draft highlights better incorporating military service education into national defense education on campus, among other stipulations.

Lawmakers deliberated on a draft amendment to the Statistics Law. It makes stipulations on promoting the integration of modern information technologies with statistics work.

The meeting reviewed a draft revision to the Law on the Prevention and Control of Infectious Diseases. It improves stipulations on the monitoring, reporting and early warning of infectious diseases, among others.

The meeting deliberated on a draft energy law, which
further stresses promoting a green and low-carbon energy transition.

Lawmakers reviewed a draft revision to the Anti-Money Laundering Law. The draft steps up the monitoring of the new risks of money laundering.

Lawmakers deliberated on a draft public health emergency response law, a draft national park law, and a draft amendment to the Supervision Law.

The meeting also reviewed a draft decision on conferring national medals and honorary titles on the occasion of the 75th anniversary of the founding of the People’s Republic of China, a draft decision on gradually raising the statutory retirement age, and several international treaties.

The meeting deliberated on a report on the implementation of the plan for national economic and social development since the beginning of this year. The overall implementation of the plan has been going well over the period, with new positive progress made in high-quality development. The economy and overall national strength have continued to grow, according to the report.

L
awmakers reviewed a report on budget execution since the beginning of this year. Fiscal operations have remained generally stable, and budget execution has been largely balanced over the period, says the report.

Lawmakers deliberated on a 2023 report on the management of government debts. This is the first time the NPC Standing Committee has heard and reviewed the State Council’s report on government debt management since the establishment and improvement of a reporting system.

The meeting reviewed a report on promoting childcare services, a report on advancing elderly care services and improving the care for the incapacitated elderly, and a report on the enforcement of the Agriculture Law.

The meeting also reviewed personnel-related bills, among others.

Source: The Namibia News Agency

Colombo: Sri Lanka cabinet approved a proposal to establish a financial stability fund with an initial allocation of one billion Sri Lankan rupees (3.3 million U.S. dollars), the government’s information department said on Tuesday.

President Ranil Wickremesinghe presented the proposal to the cabinet seeking approval to establish the fund, the department said.

The Central Bank of Sri Lanka has recognized that strengthening the bank resolution framework should be given urgent priority under the crisis management framework of the financial institutes regulated by it, the department said.

A financial stability fund should be established to ensure the fulfillment of resolution objectives under the Banking (special provisions) Act and to implement the resolution procedures provided by it effectively, according to the department.

Sri Lanka is expected to obtain a loan amount of 200 million U.S. dollars this year under the stability and reform program in the financial sector, which is funded by the Asian Developm
ent Bank.

Source: The Namibia News Agency

U.S. Vice President Kamala Harris and former President Donald Trump on Tuesday night faced off here for the first time in the 2024 U.S. presidential debate.

Harris and Trump clashed over key issues including the economy, abortion, immigration, the Palestinian-Israeli conflict, the Ukraine crisis, and the U.S. withdrawal from Afghanistan to appeal to voters across the country.

They shook hands after the 90-minute debate which started at 9 p.m. Eastern Time (0100 GMT).

Hosted by ABC News, the debate is the second presidential debate of the 2024 election, following the first one between President Joe Biden and Trump in June. After the debate, Biden dropped out of the race under mounting pressure.

Tuesday’s debate came at a critical point as polls show a tight race with the election day just two months away. Enditem

Source: The Namibia News Agency

Venezuelan Vice President Delcy Rodriguez on Tuesday inaugurated a world congress against fascism, neofascism and similar expressions with the presence of delegations from 95 countries.

“We must unite as a single mind, as a single soul to fight and not allow fascism to spread its tentacles over this planet,” Rodriguez said in her opening speech at the Caracas Convention Center.

Fascism “is the most serious threat that the planet has,” the vice president warned, emphasizing the need to defend humanity.

Rodriguez also criticized right-wing extremists for their threats against the Venezuelan government, accusing them of attempting to undermine the country’s recent presidential elections.

Also attending the opening was Venezuelan Foreign Affairs Minister Yvan Gil, who said the congress is paying tribute to the victims of the 1973 coup d’etat in Chile. Enditem

Source: The Namibia News Agency

WINDHOEK: The Delegation of the European Union ( EU ) in Namibia , in partnership with its member states and the local film industry , on Tuesday launched the 2024 EU Film Festival at the Franco Namibia Cultural Centre . This year ‘ s festival , under the theme ‘ Year of Skills ,’ showcases European cinema while promoting skills development in the local community . The festival will take place over two months , with screenings scheduled for every Wednesday night from 18 September to 13 November 2024 at the Ster Kinekor Cinema at Maerua Mall in Windhoek . Admission will be free for all attendees . The theme highlights the festival ‘ s focus on not only presenting European films , but also fostering local talent and skills through cultural exchange . The event is expected to provide an opportunity for Namibian audiences to experience a diverse range of European films and engage with the region ‘ s rich cinematic traditions . At the launch , Ian Dupont , Deputy Head of Mission for the EU to Namibia , said the fe
stival not only raises awareness and interest in both European and Namibian cinema , but also strengthens ties between the EU , Namibian audiences , and local partners . He expressed pride in hosting the annual EU Film Festival in Namibia once again , calling it a key milestone in TeamEurope ‘ s cultural cooperation with Namibia . Dupont described the festival as a celebration of filmmaking and a means to bridge cultural gaps , fostering understanding not only between the EU and Namibia , but also across different global cultures . ‘ The European Film Festival offers a unique opportunity to explore diverse cultures , life stories , and cinematic traditions . The EU and its partners hope the festival will inspire audiences , spark innovation , and provide a source of cultural enrichment ,’ he said . The 2024 EU Film Festival will feature eight acclaimed European films and will close with a special screening of the Namibian film ‘ Lukas .’ It will kick off with the screening of ‘ Semmelweis ‘, a Hungarian film
that highlights the visionary work of a pioneering doctor in maternal health .

Source: The Namibia News Agency

Hanoi: Super typhoon Yagi and its subsequent floods and landslides in Vietnam’s northern region have claimed at least 82 lives as of Tuesday early afternoon while 64 others remain missing, said the country’s Ministry of Agriculture and Rural Development.

The mountainous province of Cao Bang has suffered the most with 19 deaths and 36 missing.

Fatalities also include 19 from Lao Cai province, 22 from Yen Bai province, nine from Quang Ninh province.

Other deaths were from capital Hanoi, Hai Phong city, Hoa Binh, Hai Duong, Lang Son, Tuyen Quang, Ha Giang and Lai Chau provinces.

According to the ministry’s Department of Dyke Management and Disaster Prevention and Control, typhoon Yagi with powerful winds damaged 48,337 houses, mostly in the coastal province of Quang Ninh and Hai Phong city.

The northern region is expected to see rising water levels on Tuesday and Wednesday, with several rivers reaching the highest alert level, said the National Center for Hydro-Meteorological Forecasting.

Source: The Nami
bia News Agency

Residents in the rural areas of the Oshikoto Region have relayed how traditional wells are their only hope as efforts from the Ministry of Agriculture , Water and Land Reform ( MAWLR ) remain in vain . Villages in the Eengodi and Okankolo constituencies have normalised getting water from traditional wells , which sometimes dry out , leaving them without water for several hours while the wells fill up again . According to Eengodi Constituency councillor , Protasius Neshuku in an interview with Nampa on Tuesday , traditional wells are their only hope because the water in all the boreholes is salty and therefore not consumable . ‘ We have been complaining about thirst for years now , but nothing is being done and the only way is for us to stick to our traditional wells ,’ Neshuku said . Neshuku also urged the ministry to speed up the desalination process in some of the boreholes because many communities gather at traditional wells for hours to get water . Ohaiyanda village ‘ s headman , Johannes Shigwedha also
described the drought situation as a usual occurrence during the months of May to December , when people turn to traditional wells to get water . MAWLR head of rural water supply in Oshikoto , Stevenson Tuukondjele said they have taken note of the challenges of salty borehole water and low pipe water pressure . He added that the ministry ‘ s water tanker truck has broken down and as a result , they are not able to transport water to the communities in the Eengodi and Okankolo constituencies . Tuukondjele also highlighted that the issue with low water pressure will be resolved as soon as the Ondangwa – Omutsegwonime pipeline is repaired and upgraded in order to increase water security in those areas . ‘ MAWLR has recently introduced mini desalination plants to purify salty borehole water . Two boreholes at Omeyantalala and Otanaha were desalinated using reverse osmosis . Four others at Onelago , Akazulu , Oshikondailwa and Otatashe have been awarded to the contractors to be desalinated ,’ Tuukondjele said

So
urce: The Namibia News Agency

Beijing: China’s auto sales grew 3 percent year on year in the first eight months of 2024, data from the China Association of Automobile Manufacturers showed Tuesday.

Total sales came in at about 18.77 million units for the January-August period, the data showed.

During the period, the production of China’s automakers reached 18.67 million vehicles, up 2.5 percent year on year.

In August alone, auto sales shrank 5 percent from a year ago to approximately 2.45 million units, while the output declined 3.2 percent to 2.49 million units.

The auto market was about to usher in its peak sales season, said Chen Shihua, deputy secretary-general of the association, referring to the months of September and October.

Highlighting the effects of trade-in programs, Chen said these policy measures will help boost the auto market for the rest of this year and further unleash the consumption vitality of the market.

China’s auto exports expanded 25.4 percent year on year to 511,000 units last month, the data showed.

Sou
rce: The Namibia News Agency