Diplomatic wrangling hotting up around Ukraine – Asia Times

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Ukraine’s three-week invasion has been countered late by an intensifying Russian helicopter strategy against Ukrainian facilities. In the fight for Pokrovsk, a geopolitical logistics hub in the eastern Ukraine’s Donbass region, Russian troops have also made constant gains.

However, in the background, the political fighting in the more than 30-month-long conflict has likewise increased. However, there is n’t anything about a breakthrough or any indication that peace negotiations are on the horizon. In fact, more aggressive political work on both sides to win over foreign aid point to a persistent lack of willingness to sacrifice.

On the Russian aspect, a three-day browse by Chinese leading Li Qiang, starting on August 21, was the highest-profile for relationship since the national conference between the Chinese and Russian officials, Xi Jinping and Vladimir Putin, in Beijing in May.

Li finally went on to Minsk for discussions with the Belarusian president, Alexander Lukashenko, and the country’s prime minister, Roman Golovchenko. Beyond declaring intentions to strengthen relationships and maintain high rates of cooperation, little else was discussed. However, the sessions sent a clear indication that Belarus and Russia continue to be supported by China.

This message was reinforced a moment after Li’s exit for Minsk when a high-level Chinese military group, led by the captain of the earth forces of the Chinese army, Li Qiaoming, arrived in Moscow for talks with Russia’s assistant defence minister, Alexander Fomin.

The two factors “repeatedly reached contracts during the conference on further enhancing assistance between the earth forces in different spheres,” according to the Russian defense department.

Modi maneuvering

While Li was shuttling from Moscow to Minsk, India’s prime minister, Narendra Modi, arrived in Kiev on August 23. Modi is the first head of state to travel to India since Ukraine gained its independence more than 30 years earlier.

Given India’s difficult relationships with Moscow, Beijing, and the West, as well as its long history as a power seller with a lot of influence in the developing globe, it is especially important for Ukraine.

In July, Modi made the first international trip of his second term as prime minister to Moscow, trying to shore up relationships with India’s long-term ally Russia. Both India’s colleagues in the West and Ukraine were appreciative of Modi’s attend to Moscow.

But Modi’s recent trip to Kiev suggests that neither is all well in the China-led pro-Russian station. Before visiting Moscow, Modi skipped&nbsp, the&nbsp, Shanghai Cooperation Organization&nbsp, (SCO ) summit&nbsp, on July 3-4 in Astana, Kazakhstan.

This is due in part to Beijing’s ongoing borders hostilities with New Delhi. India likely loses a standard ally in its conflict with China because of the ever-closer connection between Moscow and Beijing, and Pakistan is equally at risk for New Delhi.

India may now be the biggest oil customer for Russia, but the nation is diversifying its hands supply to lessen its military reliance on Russia. In the so-called Quad, this has increased relationships between India, the US, Japan, and Australia.

The Quad is an important part in Washington’s attempts to counter China in the Indo-Pacific, including attempts to draw India apart from Chinese-led coalitions such as the SCO and the BRICS cluster of emerging markets.

To be clear, Modi has so far refused to condemn Russia’s aggression against Ukraine. Additionally, he has not yet endorsed Zelensky’s peace plan to put an end to the war. But, while India did not sign up to the final communique of Zelensky’s” Summit on Peace in Ukraine” in Switzerland three months ago, at least it sent a delegation, headed by the deputy national security adviser, Pavan Kapoor.

Modi reiterated the necessity of dialogue during his visit to Kyiv and offered to assist in starting peace talks. Zelensky, meanwhile, expressed his support for the idea of India hosting a follow-up to the summit in Switzerland.

India’s recent events may not have been firmly aligned with the pro-western supporters of Ukraine, but their visit signals that New Delhi is likely less enthusiastic about backing Russia’s and China’s positions on the war.

Given India’s long-standing influence in the global south, it might also aid Ukraine in gaining support from neighboring nations that have been particularly badly affected by rising food, fertilizer, and energy costs as a result of the conflict in Ukraine.

Ukraine, meanwhile, also scored several points in relations with its Western allies. A new$ 125 million military aid package was announced by US President Joe Biden on August 23. This primarily aims to increase Kiev’s supply of ammunition for the ground war and to strengthen Ukraine’s air defenses.

On the same day, the US also imposed new sanctions against some 400 companies and individuals. Although this group includes a number of Chinese companies that are accused of supporting the Russian war effort through the export of dual-use goods, no Indians have been sanctioned in line with efforts to avert Russia’s and China’s isolation.

Given the track record of sanctions so far, it’s unlikely to deal a knock-out blow to the Russian economy. Additionally, it wo n’t persuade Beijing to significantly retaliate against Moscow. However, it is likely to be high on the agenda of White House national security adviser Jake Sullivan’s trip to China this week.

Together, neither Kiev nor Moscow have recently achieved any significant diplomatic gains or losses. However, India’s prudent maneuvering also suggests that the situation is still changing as all parties and their supporters try to resurrect support on the global stage.

They all seem to believe that there is still much to be gained, both on and off the battlefield, if nothing else.

Stefan Wolff is a University of Birmingham professor of international security.

This article was republished from The Conversation under a Creative Commons license. Read the original article.

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Avalanche alert: China may dump dollars when Fed eases rates – Asia Times

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Since the mid-1990s, the US Federal Reserve has had a somewhat shaky past in Asia.

Between 1994 and 1995, the US central bank past tightened with the same intensity as it did recently. The 1997-98 Eastern problems, which resulted from a runaway dollar rally destabilizing the region’s currency pegs, was caused by the short-term rate increase in 12 months.

Since then, the 2008″ Lehman impact” that the Fed was slow to see coming and the 2013 “taper kid” have overwhelmingly rocked Asian areas.

Asia also bore the brunt of the Fed’s 2022-2023 tightening period. Epic ripples of capital scurrying toward US assets as the currency’s surge in response to Fed Chairman Jerome Powell’s price hikes resulted in spectacular waves of funds.

However, could the Fed’s rate reductions cause a different sort of tumult in Asia? If analyst Stephen Jen is correct, it certainly was.

As Team Powell undoes its most recent price hike campaign, the CEO of Eurizon SLJ Capital anticipates Chinese companies to chuck about US$ 1 trillion in dollar-denominated assets.

In truth, Jen predicts something of an “avalanche” as a strengthening dollar sends tides of repatriating money China’s manner, upending dollar industry in the process.

Granted, Jen has warned of this dollar-dumping active for a couple of years today. In June 2023, for instance, Jen argued that” Taiwanese corporates continue to hoard cash. Foreign companies ‘ total investment is increasing as a whole. The economy’s higher have perhaps at present seem enticing to Chinese entities, but this construction is ultimately unpredictable”.

The scenario Jen has been advising about is “prospective rate cuts by the Fed and/or an economic reacceleration in China could lead to a precipitous fall” in the dollar-yuan rate” as corporate treasurers in China scramble to sell the dollars they do n’t need to have.”

Since the Covid-19 pandemic, mainland companies have gobbled up more than$ 2 trillion of overseas investment, a bet on higher-yielding assets than punters often find in China. As Powell begins ratcheting levels lower, those assets may grow less appealing.

Up to US$ 1 trillion will be on the move as a significant number of island companies decide to return funds, according to Jen. Interestingly, Jen points out that his guestimate may be” conservative”.

Then, as Powell declares” the time has come for legislation to change” toward less restrictive problems, Chinese selling dangers may be upon us. It’s worth noting, Jen adds, that companies swapping out of dollar assets could see the yuan&nbsp, strengthening by up to 10 %.

Additionally, it’s important to point out that the resettlement fluid that is developing throughout China could reach businesses in Asia.

This is n’t a risk many have on their Bingo cards. Powell’s vow on August 23 to” we will do everything we can to help a strong work industry as we make more progress toward price balance” has frequently boosted Asia’s markets.

The same with Powell’s confidence that the US can achieve a so-called” soft landing”, a remarkably rare occurrence. There is good reason to believe that the economy will return to 2 % inflation while maintaining a robust labor market, Jen tells Bloomberg.

Asian bourses were cheering when they learned that Powell “has rung the bell for the start of the cutting cycle,” according to Seema Shah, principal global strategist at Principal Asset Management.

The real gains could be in Asia’s “laggard” markets, notes Chetan Seth, strategist at Nomura Holdings. We believe that the relatively safe harbor is likely to be markets and sectors that are uncrowded ( parts of ASEAN ) and more domestically driven markets ( India/ASEAN), as Seth writes in a recent note. Investors in this situation must be much more cautious and reduce their investment in Asian cyclical markets, like those in North Asia.

Yet other risks abound. Consider Jen to be one of the economists who worry that central banks from Washington to Tokyo have recently injected too much stimulus into the global financial system, causing inflation.

As Powell said in July:” Go too soon, and you undermine progress on inflation. Wait too long or do n’t go fast enough, and you put at risk the recovery. And so, we have to balance those two things. It’s a rough balance”.

Problem is that the costs of a policy error are rapidly rising due to the US’s high and rising national debt, which has recently surpassed US$ 35 trillion. Just a few months before Americans vote on November 5 to choose a new president, this milestone was reached.

Democratic nominee Kamala Harris provides details on spending plans that will add trillions of dollars to the public debt in one corner. Donald Trump, too. Trump makes hints that removing the Fed’s role as independent arbitrator of US interest rates, in addition to another multi-trillion tax cut that is currently being funded by the government.

Trump browbeat Powell into cutting rates in 2019 when the US did n’t need it during his first term as president, from 2017 to 2021. Trump also threatened to fire Powell, a previously unheard of threat from a US leader.

In a second term, the” Project 2025″ scheme that Republican activists cooked up for a Trump 2.0 White House could see the Fed’s power curtailed.

In such an uncertain world, though, the Fed pivoting toward monetary accommodation is n’t necessarily straightforward. The view driving this Asian stock rally is “broadly correct”, at least in the medium-term, says Tan Kai Xian, economist at Gavekal Research.

” Rate cuts will reverse the recent contraction in US liquidity, which will support US aggregate demand, after a lag”, Tan notes. ” But in the shorter term, rate cuts will squeeze corporates ‘ interest income, and therefore their profits. This will disproportionately affect large corporations with large cash reserves, which may result in their relative underperformance.

The effect, Tan notes,” will be bigger than commonly believed. Even though the path was indirect, thanks to businesses selling products to households in receipt of stimulus checks, handouts during Covid allowed US companies to build up sizable cash reserves.

When the Fed cuts interest rates, interest income will fall. At least before the lagged boost to aggregate demand kicks in, Tan says,” The near-term drag on corporate profits could discourage capital spending, which would have a dampening effect on US economic growth.” ” In the short term, then, rate cuts could weigh on large-cap US equities relative to bonds”.

Given that the US inflation rate is continuing to decline, Jen believes Powell may raise rates more forcefully than many investors anticipate. The global reserve currency may be under increased downward pressure due to Washington’s dual budget and current account deficits. That, Jen argues, could see the yuan appreciating more than many investors expect.

The yuan’s gains could be even bigger if the People’s Bank of China avoids moves to offset dollar liquidity. Odds are that the yuan will start to rise once the Fed starts cutting interest rates as soon as September 18? If the Fed makes any hints about further easing, the pressure will increase.

This could cause tension between PBOC Governor Pan&nbsp, Gongsheng and Xi’s economic team. Beijing has been surprisingly tolerant of a rising yuan over the past year despite the fact that global export markets became more competitive.

Xi has been working to gain more confidence in the yuan and stop large property developers from defaulting on their foreign debts. A skyrocketing yuan that nullifies growth prospects may be even worse unwelcome.

The clouds on China’s economic horizon can be seen in this week’s$ 55 billion stock crash&nbsp, in Temu-owner PDD Holdings. It’s a sign that China’s growth engines are still cooling despite Beijing’s effort to boost household demand.

Additionally, the external sector does n’t appear particularly promising. This week, Canada slapped a 100 % tariff on China-made electric vehicle imports, following the lead of the US and European Union.

Additionally, it is unlikely that the upcoming US election cycle will offer Team Xi a break. Both presidential candidates, Trump and Harris, are trying to outdo each other with anti-China rhetoric and trade policies.

All of this explains why China’s foreign exchange watchdog has been paying close attention to dizzying yuan-dollar movements. And why things might turn out differently than many investment funds currently believe.

” The pressure will be there” on the yuan to rally, Jen tells Bloomberg. We are talking about$ 1 trillion worth of fast money that could be involved in such a potential stampede if we just assume half of this amount is the money that is “footloose” and easily provoked by changing market conditions and policies.

Follow William Pesek on X at @WilliamPesek

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Beijing rips Canada’s 100% tariffs on China-made EVs – Asia Times

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After Canada announced its intention to impose tariffs on electric vehicles ( EVs ) and other steel and aluminum products produced in China, Beijing has pledged to take all necessary steps to safeguard the interests of Chinese businesses. &nbsp,

Justin Trudeau, the country’s prime minister, announced on Monday that starting October 1, China will start imposing a 100 % tariff on imports of Chinese-made electric vehicles and a 25 % tariff on Chinese steel and aluminum.

” We are transforming Canada’s automotive industry to be a world leader in building the cars of tomorrow”, Trudeau said. However, China and other countries have chosen to give themselves an unfair advantage in the world market, compromising the safety of our vital sectors and displacing skilled American metalworkers and autoworkers.

While protectionism only protects what is protected, subsidies do not produce business competitiveness. Potential growth will be abandoned”, Lin Jian, a director of the Chinese Foreign Ministry, said in a press presentation on Tuesday. &nbsp,

” The rapid advancement of China’s Vehicle market is the result of prolonged technology innovation, well-established business and supply chains, and total market competition”, he said. ” This is what occurs when our comparative benefits match the market’s needs,” the statement goes.

He claimed that China regrets and opposes the French side’s decision because it disregards facts, violates WTO regulations, and goes against historical trends. &nbsp,

He claimed that this ostentatious action störches China-Canada trade relations, harms American businesses and consumers ‘ interests, and does little to support Canada’s green transition process and global climate change efforts. &nbsp,

Some experts claimed that Canada’s tariffs will only have an impact on the exports of Tesla EVs from China because big Chinese EV manufacturers have not yet entered the American market. They claimed that while large Chinese electric car manufacturers like BYD were originally planning to export products to Canada in 2025, they will now have to think about starting factories there to prevent new tariffs. &nbsp,

Effect on Tesla&nbsp,

According to Automotive News Canada, Tesla sold 36, 900 Vehicles in Canada last year, compared with 24, 400 in 2022. Elon Musk, the company’s CEO, is currently supplying Canada with its Vehicles manufactured in Shanghai, but it can evade the new tariffs by moving to US factories. &nbsp,

Liu Chunsheng, an associate professor at the Beijing-based Central University of Finance and Economics, claimed that Tesla’s Automotive taxes could push China to reduce production there. &nbsp,

” The major places of Chinese Vehicles are not the US and Canada, but Southeast Asia, Eastern Europe and some Belt and Road places”, Liu said. ” Canada’s taxes will not harm the export of Taiwanese EVs”.

” We must beware, however, that the US is now urging its allies to decrease or stop the goods of Taiwanese electric vehicles. Canada’s taxes will be a display and affect additional countries ‘ decisions”, he said. ” Besides, Tesla may be forced to reduce its creation in China”.

Tesla stated in March of this year that it had decreased its car production in China as a result of weak demand and fierce business competition. Reuters then reported, in May, that Tesla’s Model Y output in Shanghai was 49, 498 units in March and 36, 610 products in April– down 17.7 % and 33 % year-on-year, both. &nbsp, &nbsp, &nbsp, &nbsp, &nbsp,

With a manufacturing capacity of about one million cars annually, Tesla’s Shanghai stock is the largest in the world. &nbsp,

BYD’s plan&nbsp,

The Biden administration increased the US’s import tariff from 25 % to 100 % in May. It imposed a 25 % tariff on steel products in July, and a 10 % tariff on aluminum products that came from Mexico. &nbsp,

Mexico has n’t already imposed tariffs on Chinese electric vehicles, but it has since stopped funding incentives like tax breaks or low-cost land for EV production there.

Chinese EV companies were subject to 17 to 38 percent tariffs from the European Union in early July, but analysts claimed Chinese EV companies had a value benefits and were able to withstand the EU’s new tariffs.

Now, BYD has been selling electronic trucks and trucks in Canada. The Shenzhen-based business reportedly intends to sell customer electric vehicles to Canada through a rideshare program with Uber, starting with financial in 2025. &nbsp,

A multi-year strategic partnership between Uber and BYD was announced on July 31 as part of its commitment to introduce 100, 000 brand-new BYD Vehicles onto the Uber system in important global markets. According to the news, the relationship may start in Latin America and Europe before moving on to the Middle East, Canada, Australia, and New Zealand. &nbsp, &nbsp,

The United Kingdom government, according to a report from The Financial Times next month, is not immediately planning to investigate China’s auto industry grants or impose new tariffs on Chinese electric vehicles.

Additionally, Australia has never added any tariffs on Chinese electric vehicles. Over the past 15 times, more than 550, 000 China-made cars have been sold in Australia, media reports said. &nbsp,

Read: China EVs also driving for EU’s secured industry

Observe Jeff Pao on X: &nbsp, @jeffpao3

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Commentary: Mahkota by-election has far-reaching consequences for Malaysia government

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MAHATHIR-ESQUE POLICY

PN leaders have generally been silent on the president’s initiatives in southern Johor, including the suggested Special Economic Zone with Singapore and the Forest City Special Financial Zone. However, PN will assuredly support a more Mahathir-like monetary policy in Johor that is more separatist in character.

&nbsp, Dr Mahathir Mohamad is, after all, the assistant to the four PN state institutions of Terengganu, Kelantan, Kedah and Perlis. Mahathir has been critical of advances in southern Johor and, most just, has criticised the Johor Bahru-Singapore RTS Link.

Despite holding no recognized position, Mahathir’s notes are often seen to require a reply from the authorities. His new assertions that Malaysia has been subcontracting Singapore’s water source have compelled the government to declare that it is reviewing the appropriate agreements.

The emerging of old controversial bilateral problems, if not managed properly, will destroy the administration’s plans for the Johor-Singapore Special Economic Zone&nbsp, and the Forest City Special Financial Zone.

The Johor-Singapore Special Economic Zone&nbsp and Forest City Special Financial Zone are both in bad health because of Mahathir, not the only factor. PN chairman and Bersatu president Muhyiddin Yassin’s stronghold is in Pagoh, in northern Johor.

As prime minister, Muhyiddin launched the Pagoh Special Economic Zone in 2021. In the Johor state elections in March 2022, the PN’s manifesto for strengthening the Pagoh Special Economic Zone also included this. Since the federal government’s transition in November 2022, little has been known about the Pagoh Special Economic Zone.

The actions of PH and UMNO leaders following the Mahkota by-election will determine the viability of the PH-BN partnership and the legitimacy of the Johor-Singapore Special Economic Zone&nbsp and the Forest City Special Financial Zone.

Adib Zalkapli, a public policy consultant, helps businesses navigate Asia’s political challenges. This commentary first appeared on ISEAS- Yusof Ishak Institute’s blog, Fulcrum.

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Lighthouse Canton boosts North Asia and SEA wealth management teams | FinanceAsia

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Singapore-headquartered Lighthouse Canton has appointed Stella Lau as managing director, wealth advisory where she will be strengthening the company’s client base and leading the growth strategy for North Asia.

A market veteran, Lau has over two decades of private banking and leadership experience. She was previously Greater China market group head at Deutsche Bank and has held similar roles, managing and expanding North Asia market teams at JP Morgan, UBS, and Credit Suisse.

Lau’s team will provide co wealth solutions to ultra-high-net-worth clients, families, and institutions.

In addition, Charlene Lin has been promoted to managing director, strategic growth – North Asia and Southeast Asia (SEA). A founding member of Lighthouse Canton, Lin has been pivotal in establishing the company’s presence across Asia since its inception in 2014, a statement said. 

Shilpi Chowdhary, Lighthouse Canton’s group CEO, said in a statement: “Under the leadership of Stella and Charlene, I’m confident that we have a formidable team, deeply committed to delivering excellence and innovation. Their extensive experience and expertise are invaluable assets to our company, and I’m certain their teams will be instrumental in advancing our growth strategy.”

Rapid growth

In H1 2024, Lighthouse Canton reported a 89% increase in revenue compared to the same period last year to assets under management (AUM) of $3.7 billion.

The firm’s AUM is expected to cross $4 billion by the end of 2024 with growth in markets including Singapore, the Middle East, and India. Additionally, it has seen a 23% increase in hires since the start of the year and is continuing to make strategic appointments across business lines.

Lighthouse Canton employs more than 160 professionals across its offices in Singapore (based in Collyer Quay – pictured), Dubai, India, and London.

The firm offers wealth and asset management services to ultra-high-net-worth individuals, families, family offices, private accredited investors, and institutional investors.

For more FinanceAsia people moves click here. 


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How did Taiwan’s President Lai perform in his first 100 days in office?

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UNFORTUNATE REFORM BILL

The president is authorized by the policy to call on the parliament to issue normal reports and respond to questions from lawmakers. The legislation also includes businesses and the general public.

Tens of thousands of people took to the streets to rally the validity of the law. &nbsp,

The two main opposition parties, the nationalist Kuomintang ( KMT ) and the less populist Taiwan People’s Party ( TPP ), were the main supporters of the Bills.

” The extremely aggressive move by the two opposition parties to pass the Bill has annoyed members of the public”, said Wang Chih-Sheng, director general of Taipei-based think tank Cross-Strait Policy Association.

” The citizens want checks and balances with the ruling group,” the statement read. However, when it was done in a very simplistic approach, it really sparked their desire to back or sympathize with Lai.”

Foreign Army THREATS

Lai has had to cope with the frequent military threat from China across the sea.

The 64-year-old has long been branded a” troublemaker” and a dangerous” separatist” by China.

His commencement speech in May, in which he claimed that the two sides of the Taiwan Strait are” not inferior to each other,” further irritated Beijing, which held the claim that the two factors are distinct state. &nbsp, &nbsp,

He even rejected Beijing’s independence claims and said that simply Taiwan’s people can determine their future.

China has since increased military exercises with planes and staged belittle attacks by launching “punishment” drills in its area of Taiwan, escalating tensions more across the sea.

However, numerous studies have shown that more than half of the Japanese public support Lai’s notes.

According to experts, this is mainly due to a lot of Taiwanese, especially the young people, never being ready to accept a reconciliation with China right now.

” Lai had frequently say that Taiwan and China are not superior to one another. I believe it gives him the assistance of people between the ages of 40 and 45,” Wang said.

He continued, noting that Lai is more a demagogue and had a more eloquent position than Tsai Ing-wen, who had a less ambiguous position on cross-strait issues.

CROSS-STRAIT Relationships

According to experts, Lai’s statements have now heightened his bottom line in terms of cross-strait relations.

He is unlikely to adopt an even tougher position despite rising in the polls, as any more actions against Beijing depend on the growth of relations between China and the US.

” It does n’t seem like the US would want to create more trouble. The US has been using the brakes to stop Lai,” said National Taiwan Normal University professor of social technology Chu Chao-Hsiang.

I do n’t think he would be able to adopt a tougher or more aggressive position toward China, even if his approval rating increases by another 10 percentage points.

Cross-strait conflicts are unlikely to alleviate any time soon, watchers said. Lai has consistently offered deals with China under similar standing, but has been rebuffed.

According to experts, Beijing is unlikely to engage in discussions or resume official markets with Taiwan as long as Lai rejects the” One China” process.

Taiwan is expected to increase its military spending to a report US$ 20 billion second year in order to strengthen its defense capacity as Beijing’s military maneuvers in the waters and airspace around Taiwan are becoming more frequent.

The Lai administration wants to keep Taiwan’s gross domestic product ( GDP ) growing at 3 %, keep the unemployment rate under 3.5 %, and cap inflation at 2 %.

It even plans to bring US$ 3.29 trillion in assets in proper business, which would be selected and targeted by a cross-ministry work pressure.

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‘Our laws are bigger’: Malaysian minister warns tech firms for resisting licensing regime in ‘strange’ open letter

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KUALA LUMPUR: Malaysia’s Communications Minister Fahmi Fadzil on Tuesday ( Aug 27 ) warned tech firms to comply with the government’s licensing regime if they wanted to continue operating in the country.

A partnership of tech companies sent its most recent available letter to Malaysian Prime Minister Anwar Ibrahim, in which he urges the government to reconsider its controversial licensing program, a day later. &nbsp,

Social media and messaging platforms with over 8 million users will need to obtain an annual operating license in accordance with the new framework, which could lead to fines of up to RM500, 000 ( US$ 115, 000 ) for non-compliance.

The Asia Internet Coalition ( AIC ), a trade organization established to address public policy issues and promote the growth of the internet economy in the Asia-Pacific region, claimed the regime would “unnecessarily burden businesses” and cause “undue burdens” for innovation.

” It will prevent continuous purchases and deter future people due to the complexity and expense of compliance”, said AIC, whose members include Meta, Google, Amazon and Apple. &nbsp,

The proposed government has also been criticized by civil society organizations, including Malaysia’s Centre for Independent Journalism, as one that might stifle free speech and criticism of the government.

On the day of an Orang Asli creation event in Sepang on Tuesday, Mr. Fahmi addressed these remarks, stating that the implementation of the program, which is scheduled to begin on January 1st, 2025, will not be postponed.

” They are Big Tech, but our laws are bigger. But if they want to work in Malaysia, they must regard and cooperate with our regulations”, he said.

The secretary cited recent examples from the UK and France as proof that the Indonesian government’s decision to enact more stringent regulation of tech companies.

In the UK, widespread turmoil and protests broke out in the summer and August, while Telegram leader Pavel Durov was detained in France on Saturday as part of a spacecraft into child porn and drug trafficking on the well-known encrypted communications app.

According to Mr. Fami, there are “many stuff that we are concerned on,” particularly crimes that have migrated to social media.

” POSITIVE” Conversations WITH BIG TECH

When CNA questioned whether the government had considered a situation wherein tech firms would refuse to comply and step out of Malaysia, Mr. Fahmi claimed that his government had “examined all elements”.

He added that his conference with technology companies in Singapore in soon July on the licensing program was “positive,” in that they were prepared to talk about the subject.

” We will continue discussions … The government of Malaysia is very receptive to holding conversations, taking into consideration their sights”, he said.

The AIC claimed in the most recent version of its notice that an ecosystem that depends on creativity, flexibility, and openness could be destabilized by the introduction of the licensing program “without a clear roadmap or enough industry engagement.”

The lack of these important discussions has caused the economy to be very uncertain about the range of the responsibilities and what exactly these platforms would be signing up for, it said.

The AIC raised concerns about the regime’s legal responsibility for employees of licensed service providers and the “insufficient” five-month grace time for compliance before the plan begins.

Additionally, it raised questions about strict guidelines for content restraint, such as the condition that spiritual content been approved by the Department of Islamic Development Malaysia.

Inquiries OVER AIC LETTER

Mr. Fahmi pointed out that CNA had reviewed the AIC’s three versions of its notice, which were all released after the AIC had reviewed them.

The second type, dated Friday, contained the symbols of all its 17 members and said the licensing program would be “unworkable” for the business.

Regional super-app Grab, one of its people, immediately issued a declaration distancing itself from the email, saying that the proposed legislation would not affect its functions.

Because Grab focuses on ride-hailing and food supply, it would not fall under the definition of a system that requires a license.

The AIC finally released the next version of its letter from Monday, which included the logos of only six businesses as “applicable picture.” The second type, even dated Monday, did not contain any organization logos.

The section that said the registration system may be “unworkable” was also omitted from the second and third types.

In a statement released on Tuesday, the Malaysian Communications and Multimedia Commission (MCMC) said that it had” consistently engaged with a broad spectrum of stakeholders, including service providers, civil society organisations, non-governmental organisations, ( and ) law enforcement agencies”.

The last framework must be good, effective, and in line with the needs of both the business and the general, according to the statement.

Mr. Fahmi claimed that MCMC and AIC had discussed the government in May and that AIC had repeatedly requested more time to respond up until Friday’s opened email was made public.

He continued, adding that he continues to believe that software companies had responded favorably to discussions on the program.” What is apparent is that AIC does not reflect all the platforms, but only some of them,” he said.

Mr. Fahmi acknowledged that it was” strange” that AIC had distributed multiple versions of its open letter, and that Grab’s claim that it was not consulted on the letter made things “awkward.”

However, Mr. Fahmi stated that he continues to take an “open” stand by inviting AIC and any other business to join and express their opinions on the registration system.

” There is still room for discussion”, he said.

The Indonesian government continues to insist that social media platforms and messaging apps may be regulated in order to make the internet safer for Malay citizens, especially children and families.

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‘Our laws are bigger’: Malaysian minister warns Big Tech for resisting licensing regime in ‘strange’ open letter

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KUALA LUMPUR: Malaysia’s Communications Minister Fahmi Fadzil on Tuesday ( Aug 27 ) warned tech firms to comply with the government’s licensing regime if they wanted to continue operating in the country.

A partnership of tech companies sent its most recent available letter to Malaysian Prime Minister Anwar Ibrahim, in which he urges the government to reconsider its controversial registration program, a day later. &nbsp,

Social media and messaging platforms with over 8 million users will need to obtain an annual operating license in accordance with the new framework, which could lead to fines of up to RM500, 000 ( US$ 15, 000 )

The Asia Internet Coalition ( AIC ), a trade organization established to address public policy issues and promote the growth of the internet economy in the Asia Pacific region, claimed the regime would “unfavor innovation” and “impose undue burdens on businesses”.

” It will prevent continuous purchases and deter future people due to the complexity and expense of compliance”, said AIC, whose members include Meta, Google, Amazon and Apple. &nbsp,

The proposed program, according to civil society organizations like Malaysia’s Centre for Independent Journalism, was stifle free speech and criticism from the state.

On Tuesday, Mr. Fahmi addressed these remarks on the outside of an Orang Asli growth function in Sepang, stressing that the regime’s implementation is scheduled to begin on January 1st, 2025, will not be postponed.

” They are Big Tech, but our laws are bigger. But if they want to work in Malaysia, they must regard and cooperate with our regulations”, he said.

The secretary cited recent examples from the UK and France as proof that the Indonesian government’s decision to enact more stringent regulation of tech companies.

In the UK, widespread turmoil and protests broke out in the summer and August, while Telegram leader Pavel Durov was detained in France on Saturday as part of a spacecraft into child porn and drug trafficking on the well-known encrypted communications app.

According to Mr. Fahmi, the accusations against Durov involved “many stuff that we are concerned about- that is, crimes that have migrated to cultural media.”

” POSITIVE” Debate WITH BIG TECH

When CNA questioned whether the government had considered a situation wherein tech firms would refuse to comply and step out of Malaysia, Mr. Fahmi claimed that his government had “examined all elements”.

He added that his conference with technology companies in Singapore in soon July on the licensing program was “positive,” in that they were prepared to talk about the subject.

” We will continue discussions … The government of Malaysia is very receptive to holding conversations, taking into consideration their opinions”, he said.

The AIC claimed in the most recent version of its notice that an ecosystem that depends on creativity, flexibility, and openness could be destabilized by the introduction of the licensing program “without a clear roadmap or enough industry engagement.”

The industry is divided on the range of the obligations and what precisely these platforms would be signing up for, it said.” The absence of these important discussions has created a great deal of doubt in the industry.”

The AIC raised concerns about the regime’s legal responsibility for members of licensed service providers and the “insufficient” five-month grace time for compliance before the plan begins.

Additionally, it raised questions about demanding content moderation requirements, such as the condition that spiritual content been approved by the Department of Islamic Development Malaysia.

Issues OVER AIC LETTER

Mr. Fahmi pointed out that the AIC had published three versions of its notice, all of which had been subject to CNA’s review.

The second type, dated Friday, contained the symbols of all its 17 members and said the licensing program would be “unworkable” for the business.

Regional super-app Grab, one of its people, immediately issued a declaration distancing itself from the email, saying that the proposed legislation would not affect its procedures.

Because Grab is focused on ride-hailing and food delivery, it would not fall under the definition of a platform that requires a license.

The AIC then released the second version of its letter from Monday, which included the logos of only six businesses as “applicable representation.” The third version, also dated Monday, did not contain any company logos.

The section that said the licensing regime would be “unworkable” was also omitted from the second and third versions.

In a statement released on Tuesday, the Malaysian Communications and Multimedia Commission (MCMC) said that it had” consistently engaged with a broad spectrum of stakeholders, including service providers, civil society organisations, non-governmental organisations, ( and ) law enforcement agencies”.

The final framework must be fair, effective, and in line with the needs of both the industry and the general, according to the statement.

Mr. Fahmi claimed that MCMC had met with AIC representatives in May to talk about the regime and that AIC had repeatedly requested more time to respond up until the open letter was made public on Friday.

He continued, adding that he continues to believe that tech companies had responded positively to discussions on the regime.” What is clear is that AIC does not represent all the platforms, but only some of them,” he said.

Mr. Fahmi acknowledged it was” strange” that AIC had distributed multiple versions of its open letter, and that Grab’s claim that it was not consulted on the letter made things “awkward.”

However, Mr. Fahmi stated that he continues to take an “open” attitude by giving AIC and any other company the opportunity to meet and express their opinions on the licensing regime.

” There is still room for discussion”, he said.

The Malaysian government continues to insist that social media platforms and messaging apps must be imposed with a regulatory framework to ensure a safer internet for Malaysian citizens, especially for children and families.

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Corruption crackdown in Bangladesh sends tremors through Malaysia’s migrant labour ecosystem

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Dhaka-based Financial Express, which quoted the ACC director, named several different elected members involved in the migrant workers recruitment industry being investigated by the government.

Prothom Alo, a Bengali-language everyday, had likewise reported extensively on the ACC assault and named another elected representatives.

SERIOUS Consequences

Left activists and political analysts believe that the transplant assault on the so-called syndicates operating in the export of labor is a result of the broad and ambitious campaign launched by the new time government, led by Nobel laureate Mohammad Yunus, to reform the court and police, and to clear up the government.

More than 400, 000 documented Bengal workers are present in the country, and a large number more are attempting to enter the country illegally. They make up for the country’s one of the largest numbers of foreign workers, who collectively make up almost 30 % of the country’s estimated 17 million people.

The main goal of the ACC’s crackdown is the dismantling of a network of Bangladeshi and Indonesian businesses that has a monopoly over the recruitment of overseas workers, according to Bangladesh journalists reporting on the corruption scandal and executives from Dhaka-based recruitment agencies.

Bestinet Sdn Bhd, a Kuala Lumpur-based company, is a key player in Malaysia. &nbsp,

The main goal of the onslaught is to “move apart from dealing with Bestinet and its network of companies and others in the gang that work outside the law,” according to Mr. Md Rezaul Karim, the managing director of the Dhaka-based recruitment company Hope Human Resources, in a phone interview over the weekend.

He added that the Bangladeshi crackdown has caused the offices of recruitment firms and labor brokers engaged in the recruitment of employees for the Indonesian market to close. &nbsp, &nbsp,

” The ACC walk is very effective, and the winds of change are blowing in the Bangladesh workers business”, he said.

WINDS OF CHANGE

The lakes in Malaysia are being roiling due to the advances in Bangladesh. &nbsp,

Saifuddin Nasution Ismail, the home secretary, is spearheading a separate plan to reform the government’s contentious foreign worker recruitment business. He has ordered ministries under his government to look into allegations of corruption raised by the Bangladesh authorities as well as their possible connections to Malaysian state officials and businesses engaged in labor selection.

CNA asked for comment on several occasions, but Mr. Saifuddin and Bestinet did not respond.

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Rail concession buyback idea gains support

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In: South-East Asia

Congestion sales may be responsible for money, but how strict is it?

PUBLISHED: 27 Aug 2024 at 17: 26

A sign promoting the 20-baht maximum fare is seen in front of Red Line commuter train at the Krung Thep Aphiwat Central Terminal in Bangkok. (Photo: Pattarapong Chatpattarasill)
In front of the Red Line passenger train at Bangkok’s Krung Thep Aphiwat Central Terminal, a signal promoting the 20-baht optimum fare can be seen. ( Photo: Pattarapong Chatpattarasill )

Former deputy governor of Bangkok says he backs the proposal to have the government repurchase agreements for electric trains in order to keep charges at 20 baht per journey that former prime minister Thaksin Shinawatra has suggested.

Suriya Jungrungreangkit, the commission’s secretary of transportation, previously said he concurred with Thaksin’s suggestion because it was in line with the agency’s policy of capting train service fares at that level. Samart Ratchapolsitte responded with the statement on his Facebook page on Tuesday.

The transportation and finance ministries do collaborate under the proposed plan to buy up concessions from private companies before hiring them to run the services until the original agreement terms are up.

Mr. Suriya previously stated that the government wanted to implement a 20-baht cover on all Greater Bangkok rail lines by March 2026. The State Railway of Thailand and the Mass Rapid Transit Authority ( MRT ) are currently the only companies that pay the 20-baht price cap, currently only for the Purple and Red lines.

Tickets on the two most widely used mass-transit devices vary by range, ranging from 17 to 43 baht on another MRT roads and 15 to 62 ringgit on the BTS Skytrain program.

Mr. Samart remarked that the purchase of up rail concessions is not a recent concept. Five years after the Skytrain’s opening, the government considered repurchasing Bangkok Transit System Plc ( BTS )’s first concession in early 2004 in order to keep fares at 15 baht.

However, the plan not moved forward despite there only being one range in operation at the time: the Green Line comprising the Mor Chit-On Nut and National Stadium-Saphan Taksin areas.

One way to reduce energy train prices is to “buy up the concessions,” Mr. Samart wrote on Twitter.

” Now, there are eight energy train ranges in service, covering a total length of 274 miles. Where will the funds be located? So the concept for finding the money came from the collection of fees in the business district, also known as a congestion charge or congestion pricing, in which case it was collected.

Singapore was the first state to introduce a congestion fee, called the Area Licensing Scheme, in 1975. At that time, the city-state did not have an electronic mass transit company, but it did include effective government cars.

There were concerns when the fresh service first launched because it had an impact on how people used exclusive vehicles. Yet, due to the strict enforcement of the program, everyone had to fall in line.

Police in Thailand is another issue, however.

Thailand has examined the application of traffic congestion cost measures numerous times, but it has never put them into practice. Now we will examine it once. But, I do have some concerns about the use of visitors congestion costs”, said Mr Samart.

Second, there must be electric carriages in the area where the congestion charges are to be collected, he said. He added that efficient public transportation that could get people to and from teach channels is also required.

Additionally, there must be a parking lot close to the location where the gridlock costs are collected. The government should decide whether the fees may be waived for local residents and businesspeople in the area, as well as other details like the time and date of the toll collection, the passenger counted in the vehicle, the collection method, and the particular penalties.

Lastly, Mr. Samart questioned whether the government would encourage businesses to invest in energy train services in the future and what would happen if the state were unable to recoup the concessions for the trains.

In a final point, he brought up the idea of the state relinquishing road concessions in order to lower toll costs.

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