Xinhua Asia-Pacific news summary at 1600 GMT, Jan. 16

DHAKA -- Bangladesh and Myanmar have reached consensus to complete the process of returning hundreds of thousands of Rohingya Muslims who had fled to Bangladesh preferably within two years.

The First Meeting of the Joint Working Group (JWG) on the return of the displaced Rohingyas from Myanmar's Rakhine State, was held on January 15-16 in Nay Pyi Taw. (Bangladesh-Myanmar-Rohingya Muslim)

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HONG KONG -- New economy companies may be eligible to apply for listing dual-class shares in Hong Kong stocks market by the end of June, Hong Kong Exchanges and Clearing (HKEx) Chief Executive Charles Li Xiaojia unveiled Tuesday.

HKEx announced a listing rule reform in December, which will allow biotechnology companies without revenue and other new economy companies with dual-class shares to list in Hong Kong in the second half of 2018. (HK-Stock Market)

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COLOMBO -- Sri Lanka's cabinet on Tuesday unanimously decided to withdraw two gazette notifications which would enable women to buy alcohol and work in shops selling or manufacturing alcohol beverages, and extending the business hours of liquor shops across the island, a minister said.

Minister of Ports and Shipping, Mahinda Samarasinghe said the decision was reached when the cabinet met for its weekly meeting. (Sri Lanka-Women-Alcohol)

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TOKYO -- Japanese Defense Minister Itsunori Onodera said Tuesday that a new land-based missile defense system that the government here plans to introduce is "purely" for defensive purposes.

Japan's increased defense spending, specifically the introduction of the Lockheed Martin Corp.-developed system into Japan, along with the U.S. military's pivot to Asia, has raised concern over regional peace and stability. (Japan-Missile Defense System)

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MANILA -- The Philippines placed Albay province under a state of calamity on Tuesday as glowing red lava continues to creep down the slopes of Mayon volcano.

The volcano, located approximately 300 km southeast of Manila, has been spewing ash into the skies since last Saturday afternoon, prompting the government to evacuate the people around the danger zone. (The Philippines-Volcano)

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DHAKA -- The health and safety of more than 520,000 Rohingya children living in overcrowded camps and informal settlements in Bangladesh's Cox's Bazaar district is likely to be put at even greater risk ahead of upcoming cyclone and monsoon seasons, the United Nations Children's Fund (UNICEF) warned Tuesday.

"As we get closer to the cyclone and monsoon seasons, what is already a dire humanitarian situation risks becoming a catastrophe. Hundreds of thousands of children are already living in horrific conditions, and they will face an even greater risk of disease, flooding, landslides and further displacement," said Edouard Beigbeder, UNICEF Representative in Bangladesh in a statement. (Bangladesh-UNICEF-Child) Enditem