From Russia’s invasion of Ukraine to surging inflation and rising social costs, the finance ministers of Hong Kong and Singapore have plenty on their minds.And if all that wasn’t enough, there is also the planned global minimum corporate tax of 15 per cent to fret about – as mentioned by both of them in recent budget speeches.The sweeping reform of international tax rules – engineered by the Organisation for Economic Co-operation and Development (OECD) and agreed by more 130 jurisdictions last…
Caged like chickens: Indonesia’s rural treatments for drug abusers in spotlight
In January, Indonesian police searched the home of Terbit Rencana Perangin Angin, the Regent of Langkat, after he had been arrested for allegedly receiving kickbacks for infrastructure projects.But what was meant to be a corruption investigation turned into something wider, when officers raided the expansive compound in North Sumatra surrounded by oil palm plantations.In the backyard lay two ornate fish ponds and poultry coops – and locked up near the chickens and birds were some 40 detainees,…
Is Catholic Philippines ready to decriminalise abortion? Its next president is about to decide
Sarie* is a 29-year-old single mother raising a six-year-old son in her parents’ home in Leyte. When she fell pregnant with her second child in 2021, her immediate thought was to “terminate it”.“I’d only been dating my ex for two months when I found out I was pregnant with my second child. He has four kids from his previous partner, and I had one with mine. We couldn’t afford to raise another child – that’s why I wanted to abort.”Her ex was hesitant about that idea, not least because his…
Ukraine war: Russian oil sale to India complicates US efforts to isolate Moscow’s economy with sanctions
United States President Joe Biden’s campaign to unite the globe against the Russian invasion of Ukraine is being challenged not only by adversaries such as China but also by the world’s most populous democracy, India. An Indian government official said on Friday the country will increase its imports of Russian oil, allowing it to boost energy supplies at a discount as its economy struggles to recover from the coronavirus pandemic. The official, who was not authorised to talk to reporters and…
In Indonesia, the simple act of buying cooking oil has turned deadly
Indonesia’s cooking oil shortage has turned deadly following the deaths of two residents who died after queuing for the liquid gold in East Kalimantan on the island of Borneo. The tragedies occurred despite the area being one of the largest producers of Crude Palm Oil (CPO) and fresh palm oil fruit in Indonesia.On Saturday, a housewife Sandra, 41, fainted while queuing for over an hour in the hot sun waiting for her local minimarket to open. She died in an ambulance on the way to the local…
The growing importance of social mobility considerations for employers
The need for countries to focus on enhancing social mobility within their societies has been thrown into sharp focus over the past two years.
South African electricity regulations will introduce ‘much-needed’ competition
An amended Bill intended to overhaul the regulation of South Africa’s electricity generation industry will create a new and competitive market, according to one legal expert.
UK firms ‘must be alive to risk’ of climate change litigation
UK businesses should be aware of a growing trend of climate change-based litigation according to one expert, after environmental law charity ClientEarth announced legal action against Shell.
Russian sanctions: the impact of UK, EU and US sanctions for UK and EU businesses
The UK, EU, US and other countries have issued, and continue to issue, financial, sectoral and trade sanctions which target Russia-related business.
Malaysia confirms China-backed RCEP free trade pact comes into force, expects US$200 million boost
The Regional Comprehensive Economic Partnership (RCEP) free trade agreement entered into force in Malaysia from Friday, the country’s trade ministry said.Malaysia is expected to be the largest beneficiary of the China-backed RCEP among Southeast Asian countries in terms of export gains, with a projected US$200 million increase, the ministry said in a statement.Business communities, from large to small scale entrepreneurs, are encouraged to take advantage of the vast investment opportunities and…
