World News Daily(2024-09-09) : Afghanistan's Starving Babies: A Silent Crisis
Afghanistan's Starving Babies: A Silent Crisis
In Jalalabad, Afghanistan, a hospital ward is filled with starving babies. No cries or gurgles, just silence and the beeps of monitors. 3.2 million children suffer from acute malnutrition, a crisis worsened by decades of war, poverty, and the Taliban's rule.
Amina has lost six children; her seventh, Bibi Hajira, fights for life. The ward holds 18 toddlers in seven beds. Sana, three, shares a bed with Bibi Hajira; her mother died giving birth. Ilham, also three, is too small, his skin peeling. Asma, one, breathes heavily into an oxygen mask. Dr. Ghani predicts her death.
Seven hundred children have died in six months at this hospital. International funds, cut after the Taliban takeover, have crippled healthcare. Aid agencies provide temporary relief, but funding is dwindling. The Taliban calls for increased humanitarian aid, separate from political issues.
Despite the bleakness, timely treatment saves lives. Bibi Hajira, once fragile, is now recovering. More resources could save more children. The staff is committed, working tirelessly.
Malnutrition isn't the only killer. Pneumonia claims lives too. Umrah, six months old, battles severe pneumonia in the next ward. Her mother, Nasreen, weeps by her side.
The situation is dire. More aid is needed. Lives hang in the balance.
ScoresPolitics
EU Court Ruling on Apple Tax Dispute with Ireland
The European Union is set to rule on a long-standing tax dispute between Apple, Ireland, and the EU Commission. At issue is $14.5 billion in back taxes stemming from a 2004 tax deal. Apple's non-US headquarters are in Cork, Ireland, making this case crucial for the company's global operations.
Ireland granted Apple a 10-year tax deal in 2004, allowing the tech giant to exploit a loophole known as the "Double Irish." This scheme enabled Apple to list intellectual property as intangible assets, avoiding tax on them. Only the subsidiary handling administrative tasks was taxed.
The "Double Irish" loophole was closed in 2014, but existing users like Apple could continue until 2020. An EU investigation concluded the deal was illegal, prompting Apple to exit voluntarily. The EU demanded Apple pay 13 billion Euros, plus interest, to Ireland.
Ireland and Apple appealed, arguing the EU overstepped. The EU General Court sided with Apple in 2020, but the EU appealed to the Court of Justice. The advocate general recently advised the Court of Justice to annul the General Court's ruling, citing errors in Ireland's defense.
If the Court of Justice agrees, the case would return to the General Court for retrial. This could take years, with the final outcome uncertain. Apple might have to disperse the 13 billion Euros held in escrow if the EU proves Ireland's laws favored Apple.
This dispute highlights the complexities of international tax law and the lengths to which companies and governments go to protect their interests. The final ruling could set a precedent for future tax cases involving multinational corporations.
ScoresThe Legislative Affairs Commission of the National People's Congress strengthens the revision of the Statistics Law draft, strictly punishing statistical fraud.
The Legislative Affairs Commission of the National People's Congress recently held a press conference on the second draft revision of the Statistics Law, where spokesperson Wang Xiang provided a detailed introduction to the main amendments in the draft. The draft aims to strengthen the assessment and management of statistical work for leading officials, enhance the responsibility for preventing and combating statistical fraud and falsification, and increase provisions on prohibited behaviors.
The main amendments in the draft include:
- Reflecting the new development concepts and improving the scientific and reasonable statistical standards and indicator systems.
- Strengthening the construction of statistical informatization and promoting the deep integration of modern information technology with statistical work.
- Refining the regulations on statistical supervision by incorporating the performance of statutory duties into the content of statistical supervision.
- Enhancing the responsibility for preventing statistical fraud by including the prevention and punishment of statistical fraud into the scope of responsibilities for administrative and performance duties according to law.
- Strengthening the sharing of statistical information by establishing and improving the statistical information sharing mechanism to enhance the efficiency of government statistics.
In recent years, statistical fraud and falsification have become serious issues, undermining the authenticity and accuracy of statistical data. The draft addresses this problem by adding provisions such as "including the prevention and punishment of statistical fraud into the scope of responsibilities for administrative and performance duties according to law" and "strengthening the assessment and management of statistical work for leading officials." These amendments further expand the scope of prohibited behaviors for relevant officials and increase the penalties for serious cases of inaccurate statistical data.
These amendments aim to establish and improve relevant accountability systems, enhance the rigid institutional constraints for preventing and combating statistical fraud, and ensure the comprehensive pursuit of legal responsibilities for all types of statistical fraud and falsification.
ScoresChina fully cancels foreign investment access restrictions in the manufacturing sector.
The National Development and Reform Commission (NDRC) and the Ministry of Commerce issued Decree No. 23 on September 8, 2024, announcing the Special Administrative Measures for Foreign Investment Access (Negative List) (2024 Edition), which will come into effect on November 1, 2024. The new version of the Negative List reduces the number of restrictive measures from 31 to 29, achieving "zero restrictions" on foreign investment in the manufacturing sector.
Key changes include:
- Removing the two items: "Printing of publications must be controlled by Chinese parties" and "Prohibition on investment in the application of processing technologies such as steaming, frying, roasting, and calcining of traditional Chinese medicine decoctions, as well as the production of products with confidential prescriptions."
- Areas not covered by the Negative List will be managed under the principle of equal treatment for domestic and foreign investment, granting foreign-invested enterprises national treatment.
The NDRC will further implement the pre-establishment national treatment plus negative list management system to ensure the timely implementation of new opening measures. At the same time, it will adhere to the principle of balancing openness and security, and diligently carry out risk control work.
Explanation:
- Negative List: A list of restricted areas for foreign investment.
- National Treatment: Foreign-invested enterprises enjoy the same treatment as domestic enterprises.
This policy adjustment aims to further relax foreign investment access, promote openness in sectors such as manufacturing, and ensure national security and economic stability.
ScoresSociety
Taipei City Expands Subsidies for Women's Menstrual Products, Promoting Menstrual Equity
The Taipei City Department of Education has announced that starting from the 113rd academic year, it will expand the subsidy for menstrual products to female students in the first year of senior high schools. This initiative aims to promote menstrual equity, eliminate menstrual poverty, and provide more comprehensive support for adolescent female students. Since March 2022, Taipei has been the first in the nation to implement the "Junior High School Female Menstrual Product Subsidy Program," and in March 2023, the subsidy was extended to female students in the upper grades of elementary schools.
The Department of Education distributes electronic vouchers through the Cool Class Cloud platform each month, allowing students to redeem menstrual products at Hi-Life, 7-Eleven, and FamilyMart convenience stores. In 2023, a feature was developed for parents to claim the vouchers on behalf of their children, promoting gender equality within families.
Teacher Wang Junhao from Liu Gong Junior High School leads students in understanding menstrual equity through activities like holiday riddle games and menstrual huts. Principal Lin Tai-an of Zhongzheng Junior High School emphasizes that menstrual equity education needs to be promoted from multiple perspectives to become deeply ingrained in daily life.
This move by Taipei City aligns with international trends in menstrual equity and sets a new benchmark for gender equality education in Taiwan.
ScoresEconomy
Shanghai to Establish 100 Billion Future Industry Fund
Shanghai plans to establish a 10 billion yuan Future Industry Fund with a duration of 15 years. The fund will adopt a model combining sub-funds and direct investments, focusing on supporting disruptive innovation, multidisciplinary cross-innovation, and frontier technology platforms. The fund will operate in a market-oriented manner, adopting a tolerant attitude towards failure and implementing due diligence exemptions.
Explanation:
- Disruptive Innovation: Refers to innovations that can fundamentally change existing markets or industries.
- Multidisciplinary Cross-Innovation: Refers to innovations that combine knowledge from multiple disciplines.
- Frontier Technology Platform: Refers to technology platforms at the forefront of scientific and technological development.
Shanghai has recently established multiple industry funds with a total scale of 100 billion yuan, focusing on supporting areas such as artificial intelligence and intelligent manufacturing.
ScoresChina allows foreign investors to establish wholly-owned hospitals in 9 regions, promoting the development of biotechnology and healthcare.
The Ministry of Commerce, the National Health Commission, and the National Medical Products Administration have jointly issued a document, announcing that foreign-invested enterprises will be allowed to engage in the development and application of human stem cells, gene diagnosis, and treatment technologies in the free trade zones of Beijing, Shanghai, Guangdong, and other 9 regions, as well as in the Hainan Free Trade Port. Additionally, plans are in place to establish wholly foreign-owned hospitals (excluding traditional Chinese medicine and excluding acquisitions of public hospitals) in these areas. This move aims to promote the development of biotechnology and the medical field, and to enhance China's medical standards.
Brief Analysis:
- Wholly Foreign-Owned Hospital: Refers to a hospital that is fully owned by foreign capital.
- Human Stem Cells: Primitive cells with the potential for self-replication and multi-directional differentiation, used in medical research to treat a variety of diseases.
- Gene Diagnosis and Treatment: An emerging technology that involves analyzing individual genetic information for disease diagnosis and treatment.
China's Salt Lake Industry Reorganization: Formation of China Salt Lake Group
The Qinghai Provincial Government SASAC, Qinghai Guotou, and China Minmetals have signed an agreement to jointly establish China Salt Lake Industry Group Co., Ltd. (tentative name). China Minmetals will hold a 53% stake, becoming the controlling shareholder. This move aims to accelerate the joint construction of a world-class salt lake industry base and create a world-class salt lake industry group.
The controlling shareholder of Salt Lake Co. will change from Qinghai Guotou to China Salt Lake Group, and the actual controller will change from the Qinghai Provincial Government SASAC to China Minmetals. This transaction involves the cash purchase of 681 million shares of Salt Lake Co. at a total price of 13.558 billion yuan.
In recent years, Salt Lake Co. has focused on building a world-class salt lake industry base, with stable potassium chloride production capacity at 5 million tons and lithium carbonate production capacity reaching 40,000 tons. In the first half of the year, it achieved operating income of 7.237 billion yuan and net profit of 2.212 billion yuan.
China Minmetals' subsidiary, Wumine Salt Lake Co., has some experience in the salt lake field, having already built a 10,000-ton/year lithium carbonate project and a 300,000-ton/year potassium chloride project.
The Qinghai Provincial Government has long planned to establish China Salt Lake Group, and this cooperation will accelerate that process. The industry believes that resource integration will be a future focus, especially with the decline in lithium prices, making resource integration more cost-effective.
Brief Analysis: This restructuring marks a new stage of development for China's salt lake industry. China Minmetals' entry will bring funds, technology, and management experience, helping to enhance Salt Lake Co.'s competitiveness. At the same time, resource integration will optimize the industrial layout and promote the construction of a world-class salt lake industry base.
ScoresTechnology
Roblox Unveils 3D AI Tool for Real-Time Game World Building
At the 2024 Roblox Developer Conference (RDC), CEO David Baszucki unveiled a new 3D AI tool. This innovation allows for real-time world-building directly integrated into gameplay. The tool aims to streamline creation, making it more accessible for developers.
Insights: This move by Roblox signifies a leap towards democratizing game development. By leveraging AI, they reduce the barrier to entry, fostering creativity and innovation. The integration of real-time world-building within gameplay promises richer, more dynamic experiences.
ScoresSignal: A Decade of Challenging Surveillance Capitalism
Signal, the encrypted messaging app, turns ten. It started as a merger of two obscure apps, RedPhone and TextSecure. Now, it's a mainstream phenomenon, used by millions and integrated into platforms like WhatsApp.
Unlike Silicon Valley giants, Signal is a nonprofit. It’s funded by donations, free, ad-free, and collects minimal user data. Meredith Whittaker, Signal’s president since 2022, champions this model. A former Google critic, she cofounded the AI Now Institute to address AI ethics.
Whittaker sees Signal as a counter to surveillance capitalism. Her goal: secure long-term funding without corporate ties, ensuring Signal remains a privacy gold standard. She notes that privacy is now a valuable commodity, driving growth even in response to tech giants' missteps.
Whittaker argues that AI is a product of current surveillance models, not a separate phenomenon. She believes alternative tech models need capital and support to thrive, challenging the dominant business model.
Signal’s success suggests capitalism isn’t the only path forward in tech. It’s a beacon for a new ecosystem, free from surveillance and centralized control.
ScoresNASA's Endeavour Shuttle Mission: Mapping Earth in 3D
In 2000, Commander Kevin Kregel led the Endeavour shuttle mission to create a 3D map of Earth. The Shuttle Radar Topography Mission (SRTM) utilized a 200-foot mast to gather elevation data. Despite facing technical hurdles—such as the mast's flexibility and frozen gas jets—innovative solutions, including a "fly-casting" maneuver, allowed the team to map over 80% of Earth's land.
SRTM's data remains crucial, supporting studies on wildfires, soil erosion, flood risks, and more. The mission's success was contingent on overcoming obstacles: cloud cover obscured many regions, aerial mapping was expensive, and political tensions restricted access. NASA's Jet Propulsion Laboratory (JPL) developed SRTM to penetrate clouds and map extensive areas in a single flight.
The SRTM instrument, now housed at the Smithsonian, features a sophisticated mast that folds like an accordion. In orbit, it extends to two-thirds the length of a football field. The mission's radar, mounted at the mast's end and inside the shuttle, provided continuous 3D views, faster and more precise than previous methods.
Key challenges included the mast bending under inertia and a frozen gas system. Engineer Bill Layman's "fly-casting" plan, inspired by fly-fishing, used shuttle thrusters to position the mast. This technique, both efficient and effective, ensured the mission's success.
SRTM's legacy continues, with its detailed maps still informing global research and applications.
ScoresVideo Game
Guandan: China's Popular Card Game as a Networking Tool
Guandan, a card game originating in Jiangsu around 1980, has surged in popularity since 2020. With 140 million fans, it’s now a staple in China, especially among financiers. The game uses a double deck of 108 cards, played in teams of two. The goal is to empty your hand before the opponents.
The name “guandan” translates to “throwing eggs,” possibly referring to playing “bombs” of multiple cards. A 38-year-old Hubei native finds the game’s quick pace—40 to 50 minutes—and large hands appealing. Guandan fosters conversation, making it a social tool in business, particularly finance. Foreign investors are learning it to network.
Unlike poker, guandan isn’t linked to gambling, attracting younger players. Some schools have introduced it to teach strategy and adaptability. However, its popularity has led to issues: some workers play on the clock, prompting bans in state-owned enterprises. Critics question its place in education, fearing addiction.
Guandan’s rise reflects China’s evolving social landscape, blending tradition with modern networking. Its simplicity and social nature make it a unique cultural phenomenon.
ScoresThailand's Strategy to Boost Gaming Industry and Address Social Concerns
Thailand is placing a significant bet on its gaming industry. The government plans to pass a new law next year, offering tax breaks and incentives to game developers. This move aims to transform Thailand into a regional hub for online games and e-sports.
The gaming sector already generates over 40 billion baht ($1.2 billion) annually. However, Thailand imports far more gaming content than it exports. The new law seeks to address this imbalance, boosting exports and creating more jobs.
The Digital Economy Promotion Agency (DEPA) is spearheading this initiative. They are working on the Game Industry Act, which will encompass everything from game development to related services and platforms. DEPA President Nuttapon Nimmanphatcharin emphasizes the need to balance growth with preventing negative impacts, such as game addiction.
Thailand’s gaming industry enjoys strong government support. Grants and funding have been available since 2020. The recent Thailand International Game Showcase underscored the industry's potential.
Nonetheless, there are concerns. Over 3 million young Thais are addicted to online gambling, despite its illegality. The COVID-19 lockdowns exacerbated this issue, as gaming became a daily habit.
The DEPA is also collaborating with the Culture Ministry to monitor game content, aiming to prevent violence and criminal behavior.
In summary, Thailand views gaming as a cornerstone of its economic future. However, it must navigate carefully to avoid social challenges.
ScoresEntertainment
Disney Data Breach Exposes Sensitive Information of Guests and Employees
Disney suffered a data breach this summer. Hackers, calling themselves "NullBulge," infiltrated Disney's internal Slack channels, stealing over 1TB of data. The breach exposed more than 44 million messages, 18,800 spreadsheets, and 13,000 PDFs.
The stolen data includes sensitive information on Disney Cruise Line staff and guests, as well as Disneyland attendees. Personal details such as physical addresses, birthdates, passport numbers, and visa information were compromised. Affected guests had their names, addresses, and phone numbers leaked.
Financial data was also breached. Disney+ made $2.4 billion in revenue during the second quarter of 2024. The leak revealed that Disney+ contributes 43% of revenue for Disney's direct-to-consumer entertainment business. Additionally, Disney's Genie+ service, which allowed guests to skip lines at Disney World, generated over $724 million between October 2021 and June 2024.
The breach underscores the vulnerability of even the largest corporations to cyberattacks. Disney's response and the extent of the damage remain unclear.
Scores"The Room Next Door" by Almodóvar Wins Golden Lion at Venice Film Festival
Pedro Almodóvar’s The Room Next Door won the Golden Lion at Venice. His first English-language film, it delves into euthanasia and the climate crisis. Starring Tilda Swinton and Julianne Moore, it received an 18-minute standing ovation. Almodóvar, 74, praised euthanasia, criticizing countries where it’s illegal.
The Silver Lion was awarded to Maura Delpero’s Vermiglio, a WWII drama. Nicole Kidman won Best Actress for Babygirl, an erotic film. Vincent Lindon took Best Actor for The Quiet Son, which explores extreme-right radicalism. Brady Corbet won Best Director for The Brutalist, a three-and-a-half-hour epic.
I’m Still Here won Best Screenplay, focusing on Brazil’s dictatorship. April received the Special Jury Award, an abortion drama. Films like Joker: Folie à Deux and Maria left empty-handed despite critical acclaim.
Venice marks the start of the awards season, often foreshadowing the Oscars. Eight of the last 12 best director Oscars were awarded to Venice debuts.
ScoresParis Paralympics Close with Spectacular Celebration
The Paris Paralympics concluded with a grand celebration at the Stade de France, blending fireworks, laser shows, and electrifying dance performances. Jean-Michel Jarre, the French electronic music pioneer, led the festivities, joined by DJ Martin Solveig and iconic acts like Amadou and Mariam. The event showcased France's prowess in electronic dance music and its commitment to inclusivity.
Para athletes from around the world danced and celebrated, reflecting the Games' spirit of overcoming barriers. The closing ceremony highlighted the transformative impact of the Paralympics on French society, shifting attitudes towards disability and sport.
Andrew Parsons, president of the International Paralympic Committee, praised the event as the most spectacular Paralympic Games ever, noting the record-breaking participation and global coverage. The Paris 2024 Games set a new benchmark, selling a combined 12 million tickets for both the Olympics and Paralympics, surpassing previous records.
Tony Estanguet, chief organiser of the Paris Olympics, emphasized the Games' role in fostering an inclusive world. He acknowledged the Paralympians' contribution to a lasting cultural shift, ensuring that the Paralympic revolution continues.
The celebration, despite a torrential downpour, underscored the resilience and joy of the athletes and spectators alike. As Paris handed over to Los Angeles for the 2028 Games, the legacy of inclusivity and celebration was firmly cemented.
ScoresHealth
Dual Immunotherapy Approach Reduces Lung Cancer Death Risk and Recurrence
New research indicates that administering immunotherapy both before and after lung cancer surgery significantly lowers the risk of death and disease recurrence. Immunotherapy, a treatment that harnesses the body's immune system to fight cancer, has shown promising results in recent studies.
The study, published in a reputable medical journal, suggests that patients who undergo this dual approach experience better outcomes compared to those who receive surgery alone. The pre-surgery immunotherapy primes the immune system, while post-surgery treatment helps prevent the cancer from returning.
This method not only extends patients' lives but also improves their quality of life by reducing the likelihood of the disease spreading. The findings are a significant step forward in cancer treatment, offering hope to those diagnosed with lung cancer.
In my view, this research underscores the importance of a comprehensive approach to cancer care. It highlights the potential of combining different treatment modalities to achieve better patient outcomes. As a writer, I appreciate the clarity and directness of scientific findings that can make a real difference in people's lives.
ScoresSports
Oakland Ballers: A New Era in Independent Baseball
Paul Freedman, a serial entrepreneur, faced a personal crisis when his beloved Oakland A’s announced their move to Las Vegas. Instead of lamenting, he and partner Bryan Carmel founded the Oakland Ballers, an independent baseball team in the Pioneer League. This league, unlike minor leagues, isn’t tied to any MLB team.
Freedman approached the Ballers like a startup, raising $2 million and building the ballpark from scratch. He emphasized community as the core product, aiming to replicate the A’s legacy in Oakland. The Ballers introduced innovative features like impromptu Home Run Derbies for tied games and fan-controlled sports apps, fostering a unique fan experience.
The team also opened partial ownership to fans, raising over $1.235 million from 2,200 investors. This move aligned the team’s goals with its supporters, emphasizing shared joy and community.
Freedman’s venture into sports reflects his broader mission: creating businesses that positively impact the world. His journey from tech to baseball underscores the universal appeal of sports in uniting diverse communities.
ScoresF1H2O Powerboat Championship Returns to Shanghai After 20 Years
The World F1H2O Powerboat Championship Returns to Shanghai After 20 Years October 4th to 6th Wusongkou International Cruise Terminal
Top-tier Aquatic Event Organized by the International Powerboating Federation Co-hosted by the General Administration of Sport of China and others
3,360-seat Grandstand Midnight Square Carnival Sports competition, cultural tourism, leisure entertainment
Brief Review: After a 20-year hiatus, Shanghai once again hosts a world-class aquatic event. The venue at Wusongkou Cruise Terminal not only showcases Shanghai's modernization but also offers citizens and tourists a rare viewing experience. The combination of the event and carnival enriches the diversity of activities, expected to attract a large audience.
ScoresChinese Paralympic Team Sets New World Record in 4×100m Mixed Relay
China's team set a new world record and won gold in the Paralympic 4×100m mixed relay in Paris.
The four team members: Zhou Guohua (blind), Wang Hao (handicapped), Wen Xiaoyan (cerebral palsy), and Hu Yang (racing wheelchair), each with different disabilities, formed the strongest team.
Hu Yang, the final leg, overtook the British competitor, finishing in 45.07 seconds.
Wen Xiaoyan: "We have over 1,400 possibilities; thank you to the scientific research team."
Zhou Guohua: "I gave up individual events for the team's victory."
Wang Hao, Hu Yang: "Winning gold is not the goal, but the process of striving."
The Paralympics showcase the most indomitable human spirit. A "jade" with flaws can still be a complete "king."
ScoresJannik Sinner Wins First US Open Title, Defeating Taylor Fritz
Jannik Sinner, the Italian, clinched his first US Open title by defeating Taylor Fritz in straight sets, 6-3, 6-4, 7-5. A year ago, doubts lingered about Sinner's ability to handle the rigors of tennis. Now, he stands as a dominant force on hard courts, outplaying Fritz with precision and resilience.
Sinner's 2024 season has been exceptional, boasting a 55-5 record and 35-2 on hard courts. He is the first Italian man to win the US Open and one of only four to win both the Australian and US Open in the same year since 1988. His success, along with Carlos Alcaraz, marks a new era in men's tennis, breaking the dominance of the "Big Three."
Despite facing controversy over banned substance clostebol, Sinner's performance remained unshaken. He navigated the uncertainty with poise, winning the Cincinnati Open and the US Open. Fritz, the American, reached his first US Open final, a significant achievement, but faced a superior opponent in Sinner.
Sinner's game, characterized by flawless defense and strategic aggression, overwhelmed Fritz. The Italian's ability to maintain depth and pace, combined with his recovery skills, proved decisive. Fritz's late resurgence in the third set was not enough to overcome Sinner's relentless dominance.
In the end, Sinner's victory solidifies his status as a rising star in tennis, heralding a new chapter in the sport's history.
ScoresFood
First African lamb enters the Chinese market.
Hunan Hongxing Inspection Yard received 50 pieces of frozen mutton from Madagascar, weighing approximately 900 kilograms. This marks the first entry of African mutton into China, signifying a significant advancement in African meat exports to China.
Explanation:
- Inspection Yard: A facility specifically designated for inspecting imported goods.
- Access to China: Refers to foreign products obtaining permission to enter the Chinese market.
Guizhou Moutai's performance in the first half of 2024 showed significant growth, with operating costs calculated using the moving weighted average method.
In the first half of 2024, Guizhou Moutai's total operating revenue reached 83.451 billion yuan, an increase of 17.56%; net profit attributable to shareholders was 41.696 billion yuan, up 15.88%. The company calculates operating costs using the moving weighted average method. Revenue from the "iMoutai" platform was 10.25 billion yuan, a growth of 9.76%; revenue from series wines was 13.147 billion yuan, an increase of 30.51%. Over the next three years, the company will pay cash dividends of no less than 75% of the net profit attributable to shareholders annually, with at least two dividend payments each year.
The moving weighted average method is a cost calculation method that dynamically adjusts the average cost based on the purchase cost and quantity of inventory.
Guizhou Moutai has ample cash reserves and good liquidity. Although the net cash flow was negative 5.093 billion yuan in the first half, primarily due to cash dividend payments.
ScoresThe Hidden Food Safety Risks and Regulatory Challenges Behind the Explosive Popularity of Wax Bottle Candy
Candied Wax Bottles, a brightly colored and cute snack, have recently exploded in popularity among children. Merchants claim they are "handmade," yet lack complete packaging and necessary information, making them "three-no products" (no production date, no quality certification, no manufacturer information). These candies are hot sellers at night markets, around schools, and on e-commerce platforms, but pose food safety risks.
Merchants claim the outer shell of Candied Wax Bottles is made from beeswax, but the actual ingredients are unclear and may contain harmful substances. Some products have even been found to contain no beeswax, posing a potential cancer risk. Additionally, the additives in these candies could threaten children's health.
The popularity of Candied Wax Bottles has also led to environmental issues, as their residues form stubborn stains on the streets that are difficult to remove. From a legal perspective, the production and sale of these candies are in violation, particularly when children are used in promotional videos, which contravenes the law on the protection of minors.
Regulatory authorities should strengthen inspections and crack down on three-no products to ensure children's food safety. Parents need to be more vigilant and guide their children away from such products. The title of "internet celebrity" should not be a cover for inferior products. Protecting consumer rights and the health of young people is a top priority.
ScoresMitsui & Co. Expands Sustainable Protein Investments in Poultry and Shrimp
Mitsui & Co., a Japanese trading giant, is making a significant bet on poultry and shrimp. President Kenichi Hori views these proteins as both economically and environmentally sustainable. By 2026, Mitsui aims to double its net profit from this sector to over 30 billion yen ($206 million).
Poultry and shrimp farming are considered more eco-friendly than beef or pork, producing far fewer greenhouse gases per kilogram. Mitsui plans to invest 140 billion yen by 2025, with 100 billion already allocated for acquisitions. The remaining 40 billion yen could be invested in Eastern Europe or Africa.
Mitsui’s strategy includes enhancing production and export capabilities. They’ve invested nearly 40 billion yen in India’s Sneha Farms, aiming to double its chicken output to 500,000 tonnes by 2029. For shrimp, Mitsui acquired a 20% stake in Ecuador’s Industrial Pesquera Santa Priscila, the world’s largest shrimp breeder.
Hori emphasizes wellness, seeing proteins not just as food but as contributors to health. Despite progress, the protein business is still in its early stages, contributing only 3% to Mitsui’s net profit. The competition for protein suppliers is intensifying, but Mitsui’s long-term relationships in Ecuador and India give them a competitive edge.
Key Terms:
- Feed-efficient: Requires less feed to produce the same amount of protein.
- Greenhouse gases: Gases like carbon dioxide that contribute to global warming.
- Broiler chicken: Chickens raised specifically for meat production.