The global minimum corporate tax – agreed upon by Group of 20 finance ministers this month – is set to re-chart the course of international investment flows, creating new uncertainties for Southeast Asian nations that have been striving to lure foreign capital and financial expertise.Final agreement on the 15 per cent minimum-tax plan, originally agreed to by Group of 7 (G7) developed economies in early June, is not expected until October. It could also be years before it takes effect. But its…
Asia’s planned travel bubbles burst by Delta variant as some governments cling to ‘zero Covid’ strategy
Fresh lockdowns and restrictions in Asia brought on by the faster-spreading Delta coronavirus variant are making the region’s pursuit of travel bubbles look like an increasingly fruitless endeavour.Air travel bubbles, corridors that allow movement between countries without the need for quarantine, have largely been a letdown as nations pull up the drawbridge again to contain outbreaks. A travel link between Singapore and Hong Kong, first mooted last year, has never actually opened. Meanwhile,…
Decarbonising construction is happening, but leaders must be bolder
How much to build must be the fundamental question when considering the decarbonising of construction. Unless we are prepared to consider building nothing or building less we won’t achieve our carbon emissions targets.
Tokyo Olympics: ceremony director fired for Holocaust comments as Covid-19 cases rise to 87
Problems continued to mount for Tokyo Olympic organisers on Thursday, as two more athletes tested positive for Covid-19 a day before the Games are set to officially open and the director of the opening ceremony was fired over comments he made about the Holocaust.Organisers announced 12 new positive cases overall on Thursday, including the two athletes, bringing the total number linked with the Games to 87.The news is the latest in a series of embarrassments for Tokyo organisers that have…
Tokyo Olympics: from robots to self-driving cars, Japan’s tech prowess is on display at the Games
Our Tokyo Trail series looks at key issues and athletes in the run-up to the 2020 Olympics, which are scheduled for late July. This is the third of three stories on the use of technology and innovation at the Games.As soon as Tokyo was named the host city for the 2020 Olympic Games, the Japanese government – with the enthusiastic support of companies in the nation’s hi-tech sectors – decided it would make the occasion the most innovative and technologically advanced sporting event ever staged…
South African case clarifies test applicable to review of public contracts
State bodies in South Africa can ask the courts to review and set aside their earlier award of public contracts. There are a growing number of these cases in the country, but a recent ruling has highlighted how applications for ‘self-review’ can become unstuck.
Thai protest art: risk of police harassment, prison and online trolls makes artists more subtle in their works
As pro-democracy protests in Thailand roll on through a second year of military crackdowns and stifled dissent, Thai artists are using visual imagery to challenge censorship and question the nation’s power structures.Artists have been among the many Thais arrested under the country’s draconian lèse-majesté and flag laws, which make criticising the monarchy a crime. Yet some Thai artists have carried on making art with strong political messages – even if their strategies are now less direct…
Ex-Goldman Sachs banker in Malaysia 1MDB scandal gets smaller ankle bracelet
A former Goldman Sachs banker charged in connection with a multibillion-dollar scandal at Malaysia’s state investment fund 1MDB won a Brooklyn judge’s permission to replace his ankle monitor with a smaller one so he can jog more comfortably.Federal prosecutors objected to the smaller ankle monitor, arguing that the former head of investment banking for Goldman Sachs in Malaysia could become a greater flight risk.Lawyers for Roger Ng said the “cumbersome and heavy nature” of the GPS monitoring…
How a court ruling changed Germany’s Climate Protection Act
Germany has amended its Climate Protection Act at short notice after its Constitutional Court ruled it unconstitutional in parts. This could also strengthen climate activists’ cases in other parts of the world.
Singapore teen charged with murder of 13-year-old schoolmate, remanded for psychiatric assessment
A 16-year-old Singaporean boy was on Tuesday charged with murdering a 13-year-old boy who attended the same prestigious school.Court documents said the boy was allegedly killed between 11.16am and 11.45am on Monday in a toilet at the River Valley High School. The cause of death has not been confirmed but police on Monday said they had seized an axe as a case exhibit.The 16-year-old will be remanded for psychiatric assessment and will return to court on August 10.He attended the court hearing on…