UK insurance giant Aviva looking to sell Asia business valued at over $2.75b: Sources

HONG KONG (REUTERS) – British life and general insurer Aviva is looking to sell its Asia business, valuing the unit at more than US$2 billion (S$2.75 billion), two sources familiar with the matter told Reuters.

Aviva is working with a financial adviser on a possible sale, with a formal process likely to begin in the fourth quarter, the sources said.

There is no certainty of a sale, which will depend on the outcome of a review of the Asian business to be completed by the end of this quarter, the sources said.

Aviva declined to comment.

Japan says its export control review compatible with free trade, after Korea dropped from list

BANGKOK (Reuters) – Japan’s foreign minister said on Friday that a review of the country’s export control regime, which saw South Korea dropped from a trade “white list”, is “fully compatible” with the global free trade regime.

Taro Kono made the comments at a meeting with foreign ministers of Southeast Asian countries, South Korea and the United States in Bangkok.

U.S. Weekly Jobless Claims Show Modest Rebound To 215,000

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rebounded in the week ended July 27th.

The report said initial jobless claims climbed to 215,000, an increase of 8,000 from the previous week’s revised level of 207,000.

Economists had expected jobless claims to rise to 214,000 from the 206,000 originally reported for the previous week.

In the previous week, jobless claims hit their lowest level since falling to a nearly 50-year low of 193,000 in the week ended April 13th.

The Labor Department said the less volatile four-week moving average edged down to 211,500, a decrease of 1,750 from the previous week’s revised average of 213,250.

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 22,000 to 1.699 million in the week ended July 20th.

The four-week moving average of continuing claims also crept up to 1,698,250, an increase of 750 from the previous week’s revised average of 1,697,500.

Friday morning, the Labor Department is scheduled to release its more closely watched monthly employment report for July.

Employment is expected to climb by 164,000 jobs in July after jumping by 224,000 jobs in June, while the unemployment rate is expected to hold at 3.7 percent.

Thai police say total six bombs exploded in Bangkok

BANGKOK (Reuters) – A total of six bombs exploded at three locations in Bangkok on Friday and one explosive device was recovered before it blew up, a senior police officer said.

Police Colonel Kamtorn Uicharoen told Reuters that three bombs exploded at the Government Complex in Chaeng Wattana and one failed to go off. Two others blew up in the Chong Nonsi area.

“The bombs in these two areas were improvised explosive devices triggered by timer,” he said.

A “ping-pong bomb” exploded in the Suan Luang area, he said.

Thai PM condemns those behind blasts that destroy peace

BANGKOK (Reuters) – Thai Prime Minister Prayuth Chan-Ocha on Friday condemned those behind at least three small bomb blasts that hit the capital Bangkok as it was hosting a South East Asian security meeting with world powers.

There was been no immediate claim of responsibility for the blasts, which hurt at least three people.

“On the bombing this morning, I would like to condemn those causing the situation which destroys peace and damages the country’s image. I have instructed officials to take care of public safety and those affected promptly,” Prayuth said.

Top China envoy accuses U.S. of ‘fanning flames’ of Hong Kong protests

HONG KONG — China’s top diplomat is accusing the U.S. and other unidentified Western nations of “fanning the flames” of street protests in Hong Kong targeting Beijing and the semi-autonomous region’s administration.

State Councilor Yang Jiechi was quoted Friday in an interview with the official Xinhua News Agency as saying those governments were arranging meetings with protest leaders and encouraging them in actions that were undermining Hong Kong’s “prosperity, stability and security.”

Yang’s remarks follow statements earlier this week by a former Hong Kong official that the U.S. and self-governing democratic Taiwan were behind the unrest sparked by Hong Kong now-suspended attempt to push through legislation that could send criminal suspects to China.

U.S. Secretary of State Mike Pompeo on Wednesday described such claims “ludicrous on its face.”

South Korea says it will respond firmly Japan's decision to drop it from easy trade list

SEOUL (Reuters) – South Korea said on Friday it will respond firmly to Japan’s decision to remove it from Tokyo’s list of easy trade countries.

South Korea’s presidential Blue House spokeswoman, Ko Min-jung, expressed deep regret over Japan’s move.

President Moon Jae-in will chair an unscheduled Cabinet meeting later on Friday to discuss the issue, according to Moon’s office.

Kelowna-West MLA Ben Stewart removes himself from B.C. Liberals caucus

Kelowna-West MLA Ben Stewart has voluntarily stepped away from the BC Liberals caucus.

Stewart made the decision after concerns were raised that has led Elections BC to look at the situation.

The BC Liberals would not elaborate on what issue is being looked into.

Stewart will serve as an independent and will be welcomed back into the Liberal caucus if the situation is resolved.

Stewart served as an MLA from 2009 to 2013 and returned to politics last year following a byelection victory after Christy Clark resigned.