Sri Lanka’s president makes U-turn on IMF bailout
COLOMBO:  , Sri Lanka’s new leader on Thursday ( Nov 21 ) backed a controversial IMF bailout, marking a U-turn from his election pledge to renegotiate the deal secured by his predecessor. Anura Kumara Dissanayake, the leftist leader who strengthened his hold on power last week after winning a cloutContinue Reading
Economic Development Board appoints new managing director
SINGAPORE: The Singapore Economic Development Board ( EDB) will have a new managing director from next year, with , Mr Jermaine Loy taking over the role, the Ministry of Trade and Industry ( MTI ) said on Thursday ( Nov 21 ). On January 1, 2025, Mr. Loy will take overContinue Reading
Safeguards against abuse of court processes in place and strengthened by recent legislation: Law Ministry
SINGAPORE: According to the Ministry of Law ( MinLaw ), safeguards are in place to prevent the abuse of court procedures, which have been strengthened by recent legislative changes that have been approved by parliament.
Iris Koh, the founder of the National University of Singapore ( NUS), and her husband Raymond Ng were the subject of a case that was being investigated by the media.  ,
According to MinLaw, the amendments to the Administration of Justice ( Protection ) Act ( AOJPA ) will “expressly clarify that an abuse of the court’s processes would amount to a contempt of court,” making it clear that it was unable to comment on the case” as it appears to relate to potential or ongoing legal proceedings.”
This includes allegations that are unsubstantiated and were filed solely to deceive the plaintiff into extorting money.
On November 13, amendments were passed to combat “lawfare” committed by those who abuse prosecutor procedures by filing flimsy promises for extortion.  ,
In order to mistreat the defendants, this includes filing legitimate claims for monetary damages despite realizing that they lack merit.  ,
Minister of State for Law Murali Pillai stated that there have been similar cases in Singapore and other nations as a result of the debate over the amendments, noting that such cases is become increasingly critical and lead to a decline in trust in the righteousness system over time.
In this context, he told the legislature that contempt of court should be made apparent when for a court procedure is violated.
According to MinLaw, there may be those who want to overuse the system for financial gain.
The authorities are empowered to take legal action against allegations of frivolity or approach abuse, it added. This includes , striking out for claims and restricting a group from filing further states.  ,
Events who interfere with or impede the administration of justice may also be investigated under AOJPA, said the agency’s director. According to MinLaw, it will keep an eye on developments and determine whether important law-related reforms are required.
Gautam Adani: Who is the Indian tycoon facing US bribery charges?
Gautam , Adani, the , billionaire , behind India’s Adani Group, has built an empire stretching fuel, flights, cement and advertising, propelling him to popularity as one of the wealthiest people dead.
But his rise has n’t been without turbulence.
Corporate fraud claims, a property crash, and then a US accusation accusing Adani of orchestrating a US$ 265 million corruption scheme have harmed Adani’s fortune.
Who is the creator behind the sprawling company, and how did the 62-year-old become one of the world’s richest people?
HIGH SCHOOL DROPOUT TO TYCOON
Unlike many businessmen who inherit their money, Adani came from a middle-class home.  ,
Born in Ahmedabad in northern India’s Gujarat position, Adani , dropped out of school at 16 to become a stone businessman in monetary capital Mumbai.  ,
He branched out into the export trade in 1988 after a short stay in his friend’s plastics company.
Seven years later, he received a commitment to construct and run a business transport port in Gujarat.  , It grew to become India’s largest at a time when most ships were government-owned.
Now, Adani Group spans flights, shipping ports, electricity generation, electricity distribution and even cooking fuel, making it one of India’s most important conglomerates.
More recently, Adani set his gaze on becoming India’s biggest clean electricity person by 2030.
It is the largest private creator of coal outside of India, having large coal mining activities in Indonesia and Australia.
Adani is for US$ 69.8 billion, according to Forbes magazine, making him the country’s 22nd richest person and India’s second-richest people behind Reliance Industries Chair Mukesh Ambani.
NARROWLY ESCAPED DEATH
Adani and an associate reportedly were kidnapped on New Year’s Day 1998 after gunmen demanded a US$ 1.5 million payment, before being later freed at an unidentified area.
A decade later, he was dining at Mumbai’s Taj Mahal Palace resort when it was besieged by militants, who killed 160 citizens in one of India’s worst terror attacks.
Adani allegedly hid in the room all day before being rescued by security personnel the following morning along with hundreds of others.
After his private plane touched down in his town of Ahmedabad later that evening, he recounted the incident as” I saw dying at a distance of only 15 feet”.
Briton falls to death in Phuket storm drain
PUBLISHED: 21 Nov 2024 at 16: 01
On Wednesday, a British person who was away on vacation with his family was discovered dead in the tourist island’s Kathu district.
Rescue personnel retrieved the body of Fraser Wright, 36, from the fenced-off opening on Phra Metta Road opposite Patong Hospital in tambon Patong at 9.15am on Wednesday.
A doctor who performed an autopsy determined that the person was most likely to have passed away from strangulation five to six hours earlier. No actual assault was found in the room.
The man was seen approaching the storm drain while repair was being carried out, according to CCTV footage. He is seen leaning toward the drain’s one-meter-high material fence, which carries water into the ocean. Then, as he falls in, he is seen losing his balance as he climbs over the hurdle.
A comparative claimed Wright, a native of Swindon, and two community members were staying at a nearby motel on Sunday.
The gentleman apparently left the mother’s hotel place at about 10pm on Tuesday. His home was unable to reach him because he did not return.
‘Bad for the world’: Southeast Asia environment leaders wary about lack of US climate leadership under Trump
“We heard that the US might withdraw from the ( Paris ) Agreement. If it happens, it will be negative for the world environment area. This is a worry, ” said Dr Ching Thoo Ki, the secretary-general of Malaysia’s Ministry Of Natural Resources And Environmental Sustainability.
In battling climate change, the Global North must be good with the Global South.
“Put away all the political issues, rely on what is on the table today, and this is climate change. The ice are melting. Sea rates are rising. So it’s happening, ” he said.
The Philippines is a key person in helping countries that suffer the most from weather impacts get more funding for a Loss and Damage Fund. It is currently hosting the fund’s table.
The Philippines must remain rational as we move forward, according to Ms. Maria Antonia Yulo-Loyzaga, Secretary of Environment and Natural Resources.
“The common sense, I think, for the Philippines is that we move on, ” she said.
“Of program, there are political, geostrategic considerations to every decision that we make, but we know how resilient we are, and so our paths will generally stay on track. ”
Mr. Hanif Faisol Nurofiq, Indonesia’s new minister for surroundings, did not directly comment on the influence of Mr. Trump’s re-election, but he did raise questions about the lack of cooperation and improvement in climate diplomacy in the current political climate.
With the COP29 chance, we hope that all nations will open themselves up to taking bold, achievable actions. If all countries can work together, then it will be easier to achieve results that can be agreed globally, ” he said.
We will only have a discussion that will stop in nothing if we get to sucked into it and continue to build and emit greenhouse gases. ”
Palestine’s outlook dark to bleak under Trump 2.0 – Asia Times
According to Jewish estimates, the amount of help reaching Gaza has fallen to a low in 11 months. And the kidnapping, by an military Arab group, of a fleet of 109 cars on November 16 has exacerbated the situation. Food costs are rising, and it is thought that Hamas soldiers are currently battling Israeli troops in some areas of the area.
Israel’s leadership, led by former US president Joe Biden, has consistently supported Israel in its political and military operations against Hezbollah, Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen, and of course Israel’s hostile attacks against Iran. But all the while Biden has urged restraint.
After the worst murder of Jews since the Holocaust, Israel has the right to support itself, according to Biden, who addressed the G20 this year.
The US’s position on Israel is likely to change, based on the initial consultations made by President-elect Donald Trump to his foreign policy group.
Former Arkansas governor Mike Huckabee, Trump’s choice for Israeli adviser, has long been associated with the Christian christian right, which fervently opposes Israeli control of the West Bank.
Huckabee made his position apparent in a 2017 interview with CNN, saying:” There is no such thing as a West Bank. It’s Judea and Samaria]the republic’s bible name]. There’s no such item as a lawsuit. They’re areas, they’re districts, they’re cities. There’s no such item as an job”.
Democratic senator Marco Rubio, the man who would be the secretary of state, has publicly opposed a peace in Gaza. He just stated to reporters that he wanted Israel to “destroy every aspect of Hamas they could get their hands on.” These individuals committed vile acts.
A month out from the election, on October 5, Biden appeared at a White House press briefing and commented on speculation that Netanyahu’s apparent unwillingness to agree a ceasefire was motivated by US politics:” Whether he’s trying to influence the election, I do n’t know– but I’m not counting on that”, he said, adding that:” No administration has helped Israel more than I have. Nothing, none, none”, he said. ” And I think]Netanyahu] may consider that”.
Netanyahu must accept that the election results and Trump’s choice of steadfast supporters of his government as confirmation of a strategy that, at least today, has Israel in ascendancy. Israel’s unpleasant in northwestern Gaza shows no sign of slowing.
A new motivation for the ongoing defense activity appears to be emerging as more and more people are being forced southward.
Stress from the appropriate
Some political right-wingers, including members of Netanyahu’s administration, are currently calling for Jewish settlers to retake control of the northern Gaza Strip. These colonists see the Gaza Strip evacuation of 2005 as a “hillul hashem,” a blasphemy against God, as opposed to a tactical error.
Many now believe a similar style may be repeated in at least the northern half of the Gaza Strip as its 2 million Arab residents are squeezed even more into a shrinking space, just as IDF outposts in the West Bank have frequently been used as settlement building sites.
For the two most notable Catholic Zionists in Netanyahu’s state, Interior Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, the vote of Trump is the product that will keep on giving. Full conquest of what they refer to as” Judea and Samaria” is still a celebration for them and their power base if the long-awaited prophecy time is to be ushered in and their perception of Zionism realized.
Regardless of the wider repercussions Israel’s state to be both Jewish and democratic, Smotrich and Ben Gvir believe they have the global support to accomplish this.
Full conquest, according to the majority of observers, would effectively declare Israel an apartheid state unless all Palestinians received full citizenship and political rights. This is doubtful.
Netanyahu’s equations
Netanyahu knows this. However, he is no longer so dependent on Smotrich and Ben-Gvir because of the dynamic nature of his local elections. He now has a wider base of support thanks to the addition of a little bloc to his alliance under Gideon Sa’ar.
His approval rating has also increased significantly since Israel’s invasion of Lebanon in response to Hezbollah, according to recent elections. Netanyahu appears to be in an unafraid status despite a new boost in his ballot scores and a divided opposition.
He is also aware that Trump was elected as a transactional leader with a goal of reducing US involvement in international conflicts. Netanyahu is also aware that Trump’s first administration’s efforts to normalize relationships with Saudi Arabia and other Muslim countries have been undermined by the Gaza issue, at least for the time being.
Saudi Crown Prince Mohammed bin Salman has conditioned any measures being taken by the Israeli state and its alliance, the US, toward Israeli sovereignty by calling Israel’s military activities in Gaza a murderous.
Netanyahu may be aware that any change in that direction had fracther his coalition. He will also have a suspicion that Trump did try to use their own political influence to pressure Saudi Arabia and other Gulf kingdoms.
Reading Trump’s purposes is not for the uninitiated. Even so, Netanyahu did believe that the approaching US president will likely grant him political joy to come to an end to his wars. Many, of course, remains questionable. The Palestinians, however, will continue to bear the most of the load.
They can anticipate little assistance from the Arab globe, despite the fact that they lack effective management in Gaza or the West Bank. They now face a victory-seeking Jewish leading and the possibility of a US leader who will help him in every way.
Clive Jones is professor of local stability, Durham University
The Conversation has republished this essay under a Creative Commons license. Read the original post.
India warns of ‘further damage’ to Canada ties
After Prime Minister Narendra Modi allegedly knew about a reported plan targeting Sikh activists, India warned Canada of “further injury” to now strained relations. The largest Hindu community in the world is found in Canada, along with protesters for” Khalistan,” a border separatist movement seeking independence for the spiritual minorityContinue Reading
Death toll in Philippines from Super Typhoon Man-yi rises to 12
MANILA:  , The death toll from Super Typhoon Man-yi in the Philippines has risen to 12, the national disaster agency said on Thursday ( Nov 21 ) as widespread flooding subsided. Over the weekend, Man-yi smashed thin buildings and buried villages in the mainland nation, bringing with it optimum sustainedContinue Reading
Banking on connectivity: How Equinix is revolutionizing BFSI infrastructure
- developing a sustainable economic system on a global scale
- Revolutionizing finance through global digital communication
In today’s banks, financial services, and coverage ( BFSI) business, interlinking is not just a buzzword—it’s the lifeblood of online transformation, driving a tectonic shift in how financial organizations operate and develop. At the heart of this revolutionary stands Equinix, a digital infrastructure business that’s weaving a global cloth of communication, redefining how economic companies operate, develop, and secure their digital assets.  ,
Equinix’s position in the BFSI market is little short of revolutionary. Equinix has created a strong, global habitat that’s driving creativity and collaboration. The amazing breadth and breadth of the Equinix economic services ecosystem reflect this wide range. Using Equinix’s connectivity options, BFSI habitat participants continue to build and expand their services in the modern economy.  ,
Beyond traditional financial institutions, this habitat also includes all major public cloud service providers, many financial organizations, data analytics companies, LLM and AI providers, and technology providers. A detailed network like this promotes innovation and new business models by facilitating smooth cooperation and data exchange.
enhancing the digital equipment needed for contemporary bank
At the core of this habitat is Platform Equinix®, which is at the frontline of enabling cutting-edge online banking services. By providing low-latency connections to a multitude of partners, including sky providers, system operators, surveillance and fintech companies, Equinix allows banks to produce future-ready platforms that can leverage various technologies through API calls.
This infrastructure flexibility is crucial in today’s multi-cloud environment. For instance, a bank can now run its front-end applications on AWS, use Google BigQuery for analytics, and tap into AI services from Microsoft or OpenAI, all while maintaining its core banking systems and customer data within Equinix’s secure data centers.  ,
Equinix Fabric® facilitates this hybrid multi-cloud approach, enabling banks to provide their customers with the quickest and most innovative services without sacrificing security or performance.  ,
Tariq Shallwani, head of Segment Strategy South Asia, Equinix, shared,” Over 85 % of enterprises are already using multiple clouds to gain agility. BFSIs have a transformative opportunity to leverage innovation from the cloud while avoiding vendor lock-in as new public cloud availability zones are launching in Malaysia.
In a connected world, strengthening cybersecurity
As financial services become increasingly digital and interconnected, cybersecurity has become a paramount concern. Equinix addresses this issue head-on by providing safe, private options for connecting to the public internet, significantly reducing the threat of cybercrimes.
Central to this security strategy is Equinix Fabric, which allows financial institutions to create private, software-defined connections to their partners and service providers. By reducing latency, this increases both performance and security.  ,
Building on this foundation, Equinix’s Network Edge service offers software-defined edge security solutions, including SD-WAN, firewalls, and routers as a service, extending the coverage to new markets and edge metros.
Navigating compliance in a global landscape
While enhancing security, financial institutions must also navigate a complex web of regulatory requirements. Global financial institutions face a significant challenge in ensuring compliance with data sovereignty and financial regulations. Equinix’s global presence, with data centers in key financial hubs worldwide, allows banks to maintain data residency while still accessing global markets.
Banks expanding their reach benefit most from this global-local approach. For instance, a bank in Malaysia can use Equinix’s facilities in Singapore or Hong Kong to access the region’s robust financial ecosystem while adhering to local data laws. Banks can expand their services internationally while maintaining the necessary regulatory compliance in each country.
Enabling real-time financial services
The future of banking is not just global and secure—it’s also real-time. Equinix’s low-latency connections and location of data centers close to major financial hubs help to realize this. This infrastructure enables banks to process transactions and analyze data in near real-time, a capability that is crucial for services like high-frequency trading, real-time fraud detection, and instantaneous cross-border payments.
Additionally, Equinix’s edge computing capabilities enable the financial sector to integrate IoT and AI technologies. For instance, insurance companies can now process data from IoT devices in real-time, enabling more accurate risk assessments and faster claims processing. This convergence of advanced technologies and real-time capabilities opens up new horizons for financial services.
Together with Equinix and Orange Business, the two companies have established a strong partnership to provide BFSI clients with appropriate solutions that are customized to their requirements. Disaster recovery is one of these options, from new, innovative service offerings to the re-architecture of the IT infrastructure in data centers and the cloud.  ,
Christophe Ozer– head of Evolution Platform Orange Business APAC – Cloud, Connectivity, Cybersecurity, shared,” Through our partnership, Orange Business and Equinix are enabling financial institutions to unlock new levels of agility and security, ensuring they remain at the forefront of innovation while meeting the demands of a rapidly changing financial landscape”.
Sustainability in finance
Now, as the financial sector evolves technologically, it’s also grappling with its environmental impact. Here too, Equinix is leading the charge towards sustainable digital infrastructure. Despite growing its global data center footprint and vowing to reach 100 % clean and renewable energy coverage across its global portfolio of data centers by 2030, Equinix reduced its operational scope 1 & 2 emissions by 24 % from a 2019 baseline in 2023.  ,
This initiative extends to all facilities, whether newly constructed or recently incorporated into the company’s portfolio. In Malaysia, Equinix’s data centers are 100 % renewable, and in 2023, Equinix’s global operations had a total renewable energy coverage of 96 %, surpassing 90 % for the sixth consecutive year…
Financial institutions can use cutting-edge digital infrastructure to achieve their own environmental goals while achieving these goals. It’s a win-win scenario where technological advancement aligns with environmental responsibility.
Future-proofing finance
The impact of interconnected ecosystems in finance will only increase as the years go on. Equinix is at the forefront of this trend, expanding its global reach and improving its services indefinitely. The company’s recent expansion into Southeast Asian markets like Malaysia demonstrates its commitment to supporting the sustainable expansion of emerging markets ‘ digital financial services.
For banks and financial institutions, partnering with Equinix offers a clear path to digital transformation. It provides access to a global ecosystem of partners, secure, sustainable and high-performance infrastructure, and the flexibility to innovate and scale rapidly. Equinix’s interconnected ecosystems will undoubtedly have a significant impact on shaping the future of finance as the landscape of the financial services industry continues to evolve.
Ultimately, in this increasingly digital and interconnected world, Equinix is not just providing sustainable infrastructure – it’s powering the future of finance. By enabling secure, compliant, and innovative financial services, Equinix is helping to create a more connected and efficient global financial system, benefiting institutions and consumers alike.  ,
As technology develops, the interaction between financial services and digital infrastructure will continue to spur innovation, creating a more diverse and dynamic financial ecosystem.