Indonesia’s goal to revitalise its pandemic-battered tourism sector could take a leap forward this weekend when the island of Lombok gears up to host one of the world’s top motorcycle races, seen as an opportunity to showcase there is far more to the country than resort island Bali.Lombok is typically known among foreign travellers as an offshoot, getaway destination from the better-known and hugely popular Bali, which is less than an hour away by plane or two hours by fast boat.Jakarta hopes…
Western franchisors stuck in Russia must act to ‘minimise brand damage’
Western brands struggling to extricate themselves from complicated franchise agreements in Russia must be proactive to protect their reputations, according to one legal expert.
Ukraine war: Japan imposed Russia sanctions as it needs help if China invades Tokyo, Taro Kono says
Japan’s sanctions on Russia over its invasion of Ukraine are necessary, even if they squeeze energy supplies, because Tokyo one day could need allies to counter China in East Asia, former foreign minister Taro Kono said.“We need to tell the people in Japan that in order to protect ourselves we need to help others too,” Kono said. “If there is any aggression anywhere on this planet, we need to stop them,” he added.Japan counts neighbouring China as its top national security threat, followed by…
Russia and Ukraine jostle for support of world’s largest Islamic group, Indonesia’s Nahdlatul Ulama
Russian and Ukrainian envoys to Indonesia are courting the country’s largest moderate Islamic group Nahdlatul Ulama (NU), in acknowledgement of its political influence on leaders of Southeast Asia’s largest economy.Last week, Ukraine’s envoy met with the recently elected NU leader Yahya Staquf. The next day, the Russian envoy showed up at NU’s headquarters in Jakarta.After the meeting, Staquf called the events in Ukraine a “war” and called on Russian President Vladimir Putin to “stop the war…
VAT treatment of UK termination and compensation payments
After a period of uncertainty, in February 2022 HM Revenue & Customs (HMRC) published its revised policy on the UK VAT treatment of payments made on termination of contracts and litigation settlement agreements.
Singapore’s services trade with Russia could be at risk if Moscow retaliates for sanctions over Ukraine: analysts
Singapore could lose out on much of the trade in services with Russia it had hoped for after imposing sanctions for the war in Ukraine, analysts say, if Moscow acts on its warning that bilateral economic ties and deals may suffer.Russian envoy to Singapore Nikolay Kudashev said in an interview with the South China Morning Post last week that Singapore’s unilateral sanctions against Russia ran counter to the development of bilateral ties and that economic deals would be under “severe supervision…
Ukraine war: Singapore urges China to use ‘enormous influence’ on Russia to end conflict
Singapore’s top diplomat said he hopes China will use its “enormous influence” on Russia to help end its war with Ukraine, warning that Beijing’s decisions in the coming days and weeks could determine the future path of the global economy.“The big issue now is what decisions and actions China takes,” Minister for Foreign Affairs Vivian Balakrishnan said in an interview with Bloomberg.“If you get a deepening of the bifurcation of the global economy, of supply chains, of technology, this will be…
Consultation opened on nature-related risk disclosures framework
Pension schemes have been urged to track the development of a framework that is designed to ensure that nature is factored into financial and business decision making in the same way that climate risks are.
1MDB trial: Malaysia’s Jho Low stole US$1.42 billion from Goldman deals, FBI agent says
Fugitive financier Jho Low, the alleged mastermind of the 1MDB scandal, stole US$1.42 billion from three bond transactions that Goldman Sachs Inc arranged for the Malaysian wealth fund, an FBI agent who traced the funds testified.US Federal Bureau of Investigation agent Eric Van Dorn took the stand Monday at the trial of ex-Goldman banker Roger Ng in federal court in Brooklyn, New York.In addition to his testimony about Low, he told the jury that former Malaysian Prime Minister Najib Razak…
ICO ransomware guide includes checklist for businesses
UK organisations have been advised to establish incident response, disaster recovery and business continuity plans to address the heightened risk of ransomware attacks.