Struggling to Catch MICE

Published on Oct 25, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — YOU read the news feeds coming out of Vietnam, then along with the (often woeful) financial reports, South China Sea soap opera and stories of strengthening ties with Uzbekistan, you get some items that are rather more PR-oriented. One I read recently extolled Vietnam’s virtues as a fast-emerging destination for high-end MICE travellers. (MICE is the unfortunate acronym for “meetings, incentives, conferencing and exhibitions”—basically a catch-all for business fun.)  Helen Clark reports in The Economist. .

Sharia Rising in Borneo

Published on Oct 24, 2011 by Luke Hunt

FAR EAST CORRESPONDENT — The swish of a cane followed by the sharp “thwack” as it met a human back heralded a new era in Sabah last week. It was the sound of the enforcement of Syariah law on Muslims in the state and the quickening pace of change in this laid-back region of Borneo is making some squirm. The harsher approach to what most had always viewed as private and personal moral choices was hinted at by state Islamic authorities last year but few thought much of it. They should have know better. Read more from The Bamboo Desk. .

PART IV: The Costs

Published on Oct 23, 2011 by Luke Hunt

AsiaWATCH — In the final installment of this four part series Luke Hunt examines the potential costs associated with Iran’s national shipping company, stemming from sanctions imposed against the Islamic country due to its controversial nuclear prograame. Parts of this article has appeared in previous publications.   All P&I providers re-insure against catastrophic losses, which kicks in for large exposures, it is not clear who Moallem uses for re-insurance. Major European insurance houses would not be in a legal position to offer cover while the Peoples Insurance Company of China (PICC) has been touted as a possibility. But analysts said given its ongoing negotiations over access to Lloyds of London it was highly unlikely that PICC would risk its international standing....

PART III: Insuring IRISL

Published on Oct 22, 2011 by Luke Hunt

AsiaWATCH — In the third installment of a four part series Luke Hunt examines the insurance issues to Iran’s national shipping company and the issues created by sanctions against the Islamic country. Parts of this article has appeared in previous publications.  International sanctions against Iran’s national shipping line in response to Tehran’s nuclear ambitions are mounting. The world’s largest container carrier Maersk has suspended operations at three Iranian ports while the US Treasury has launched legal action against 121 companies and individuals affiliated with the Islamic Republic of Iran Shipping (IRISL). The latest round of measures, for providing support to Iran’s ballistic missile and nuclear programs, came after IRISL was ostracized by the international maritime community with mortgage foreclosures on....

PART II: IRISL’s Response

Published on Oct 21, 2011 by Luke Hunt

AsiaWATCH — In the second installment of a four part series Luke Hunt examines the regional response to Iran’s national shipping company and the issues created by sanctions against the Islamic country. Parts of this article has appeared in previous publications. Twenty Hong Kong companies were linked to Tehran’s weapons build-up and the territory says it is striving to pass laws that would allow it to seize Iranian-linked assets. Typically each company is responsible for one vessel. Japan, the European Union, Canada, Australia and the United States have all passed laws enacting sanctions, some have gone further. South Korea temporarily closed 102 companies believed helping Iran’s nuclear program including the Seoul branch of Bank Mellat, responsible for exports to Iran.....