India’s Akasa Air and Malaysia’s AirBorneo are pressing ahead with expansion plans despite soaring jet fuel prices and disruption from the Middle East conflict, in a development that analysts say is a sign smaller Asian carriers are finding room to grow as larger airlines grapple with capacity constraints.
Akasa Air, India’s youngest airline, said last week that it was seeking to raise 10.5 billion rupees (US$110 million) through equity and debt, including loans from state-run banks, to fund the…
Tornado rips roofing from Indonesian construction site, sends workers fleeing
A tornado tore through an industrial site in Batam, Indonesia, ripping roofing from workshop facilities and sending helmeted workers running for cover as weather officials warned that unstable conditions could trigger further sudden storms.
The short-lived wind vortex, described locally as a puting beliung, struck VME Process in Tanjung Sengkuang, Batu Ampar, at about 10am on Wednesday, damaging workers’ shelters and scattering construction materials across the site, according to Indonesian…
UAE’s transactions law resets court tests for project risk, pricing and exit economics
The UAE’s Civil Transactions Law will influence how courts review evidence, pricing decisions and agreement outcomes when disputes arise.
Financial crime and operational resilience in ADGM regulator’s sights
Financial services firms operating in the Abu Dhabi Global Market (ADGM) can expect their efforts to combat financial crime and meet requirements around operational resilience to come in for regulatory scrutiny over the coming months, experts have said.
UK cabinet changes ‘could disrupt cyber security legislation’ as Lords call for single safety regulator
Changes by new UK prime minister Andy Burnham to his cabinet risk causing significant disruption to the country’s new cyber threat readiness legislation, according to experts.
More businesses set for tax relief as government unveils latest rates cuts
The UK government has announced a 20% business rates cut for pubs, clubs and music venues as part of broader cost of living measures aimed at supporting retail and hospitality companies.
Malaysia probes telecoms giant Maxis over Khairul Aming privacy leak
A social media post over an unpaid phone bill has triggered a data-protection investigation in Malaysia, after one of the country’s most recognisable influencers questioned how a stranger obtained details from his telecoms account.
The episode involving Khairul Amin Kamarulzaman, better known as Khairul Aming, has raised uncomfortable questions for telcos about how tightly they manage customer account information and how quickly private details can be exposed when those controls fail.
Khairul…
What does New Zealand bring to the Philippines’ security network?
The elevation of ties between the Philippines and New Zealand to a comprehensive partnership gives both countries a wider framework to deepen cooperation, as Manila expands its network of middle-power partners and Wellington steps up its engagement in Southeast Asia, analysts have said.
The upgrade also builds on rapidly tightening defence ties, giving Manila another security partner and New Zealand a stronger foothold in an increasingly contested Indo-Pacific, observers add.
New Zealand and the…
DFSA proposes sweeping overhaul of DIFC funds regime
The Dubai Financial Services Authority (DFSA) has unveiled plans for a significant overhaul of the Dubai International Financial Centre’s (DIFC) collective investment funds framework in a move designed to modernise the regime, align it with better align it with international standards, and support the DIFC’s continued development as a global investment funds hub.
‘Disbelief, shock’: Singapore PM on Faishal’s inappropriate messages with woman
A married Singapore minister’s sudden resignation amid revelations he had exchanged inappropriate messages with a woman has rocked the city state’s establishment circles, with a groundswell of sentiment calling for him to be retained.
Amid online petitions and calls to keep former minister-in-charge of Muslim affairs Faishal Ibrahim following his resignation on Monday, Prime Minister Lawrence Wong shed further light on the controversy, suggesting the matter was more serious than previously…