Income says chairman recused himself from decision to appoint Morgan Stanley in Allianz deal

SINGAPORE: Mr&nbsp, Ronald Ong, the president of Income Insurance, had recused himself from the board’s decision to nominate Morgan Stanley as the financial adviser in its deal with Allianz, said Income Insurance.

As a result of questions the day before about a potential conflict of interest arising from Mr. Ong’s positions in both Income and Morgan Stanley, the Singapore insurer issued a statement in the early hours of Saturday ( Jul 27 ).

Mr Ong, in addition to being president of Income, is likewise the&nbsp, chairman and CEO of Morgan Stanley’s Southeast Asia company. He has been a Morgan Stanley employee for over 20 years. &nbsp,

” Morgan Stanley was appointed as Income Insurance’s economic assistant after a considered choice process”, said Income on Saturday, in response to CNA’s questions.

According to them, they were chosen based on their previous experience with comprehensive transactions, the deal team’s experience, and their thorough knowledge of income insurance.

Income further stated that a review committee had reviewed Morgan Stanley’s visit before the table had given its approval.

Additionally, the employer claimed that none of its executives are connected to Allianz and are therefore” considered separate for the purposes of making a proposal on the offer.” &nbsp,

The committee will establish an independent panel committee chaired by the lead separate director and wholly composed of separate directors, to choose and assign an independent financial director, according to Income Insurance, and in accordance with good corporate governance.

The independent financial adviser’s recommendation to the board regarding whether to recommend to shareholders to accept or reject the offer ( when made ) will be included in the composite document.

Disagreement OVER DEAL

The package, which will make Allianz the largest investor in Income Insurance, has previously faced backlash as the people feared it would sacrifice Income’s stated devotion to Singapore’s employees. &nbsp,

Allianz announced on Jul 17 that it had intended to purchase 51 per cent of Income Insurance’s shares, stating an offer of S$ 40.58 ( US$ 30.20 ) per share for a transaction value of S$ 2.2 billion.

NTUC Enterprise now has a 72.8 per cent interest in Income Insurance. If the purchase is successful, it will continue to be a significant investor.

Several spectators expressed concern about how this may conflict with the company’s initial purpose following the announcement, including former CEO of NTUC Income Co-operative Mr. Tan Suee Chieh. &nbsp,

The company was founded in 1970 with the aim of providing necessary, affordable insurance to underprivileged employees. &nbsp,

Given that the guarantee from NTUC Enterprise to be as a majority shareholder was used to lessen worries about its corporatization in 2022, Mr. Tan described the transaction as a “breach of great faith.” &nbsp,

After the deal with Allianz, NTUC Enterprise president Lim Boon Heng announced on Thursday that the cooperative will continue to offer affordable insurance to consumers with lower incomes. &nbsp,

Experts told CNA that some of the concerns over the package are justified because Allianz’s objectives may not be in line with Income Insurance’s classic objectives.

They added that the agreement makes sense from a business standpoint because a larger scale of operations might lead to savings like lower fees.

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Why Singapore firms are entering the German market, and how Enterprise Singapore is helping them

SPIKE IN COUNTRIES EXPLORING EUROPE&nbsp,

Business Singapore, which champions internationalisation, said it has seen a rise in firms exploring options in Europe post-pandemic. &nbsp,

In 2023, EnterpriseSG supported 220 organizations to observe a wide range of areas in Europe, including Belgium, France and Germany. This was 20 per cent higher than in 2022, and nearly 50 per cent more than that in 2019, pre-COVID-19. &nbsp, &nbsp,

European businesses, in particular, are eager to companion, or touch merger and acquisition opportunities with Singapore firms, said Mr Alan Yeo, chairman of Europe at EnterpriseSG. &nbsp,

Many small- and medium-size enterprises ( SMEs ) in Germany, have faced challenges in growing due to the limited size and market size in Germany, and want to venture out, but they have limited opportunities, he said. &nbsp,

They even find succession planning for their mainly niche and technology-based companies challenging, he added. &nbsp,

They are looking for companions to expand in terms of various businesses, particularly those in Southeast Asia and Asia, and some of them are open to joint ventures and mergers and acquisitions, he said. &nbsp,

GROWING TECH PARTNERS&nbsp,

With Singapore and Germany sharing some economical concern regions, it continues to be room for start-ups to click options. EnterpriseSG is looking to expand its network of colleagues in the technology industry as part of an action called the Global Innovation Programme. &nbsp,

Companies like TeleMedC, which uses what may go off as a regular eye test to find diseases like diabetes, have benefitted from the program. &nbsp,

The company aimed to exit Asia in 2021 and enter Europe via Germany with its artificial intelligence software. &nbsp,

But, success was out of sight first. Speech was a great barrier, said the agency’s CEO Para Segaram. &nbsp,

” None of us spoke German, so it was very difficult going to a country where you do n’t even know the language. The whole company do is all in German, so it’s very challenging”, he said. &nbsp,

He added that the business was unsure of how to enter the European market. Through the program, he was able to link up with various participants. &nbsp,

According to its assistant managing director of advancement Emily Liew, EnterpriseSG appoints a network of companions to speed up businesses’ journeys by familiarizing them with a business, helping them strategize, and building contacts. &nbsp,

” We will connect them to investors, reference clients or another co-innovators, if you know they need to enhance their product for the business further”, she said. &nbsp,

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Natixis-affiliated Ostrum AM creates new transition department; aims to expand FI offering in Asia | FinanceAsia

Paris-based Ostrum asset management (AM), an affiliate of Natixis Investment Managers, has appointed Nathalie Beauvir to head up its newly created sustainable transitions department.

A spokesperson confirmed to FinanceAsia that Beauvir had been in her new role in Paris since the start of the job transition in May.

The newly established department, according to a July 10 press release, consists of five environmental, social and governance (ESG) experts and two corporate social responsibility (CSR) experts.

They will be responsible for strengthening Ostrum AM’s strategic positioning on ESG; optimising the interdependence of investment policies including exclusion, engagement and voting; and developing offerings with new thematic ranges.

The department reports directly to the firm’s chief executive officer (CEO) office.

CEO Olivier Houix commented in the press release that the team expects Beauvir to establish Ostrum AM as a “committed partner for transitions” for stakeholders, in terms of investment strategies and development financing.

Beauvir was promoted from her previous role as head of sustainable bond analysis and research at Ostrum AM,where she was involved in the launch of the firm’s climate and social impact bond fund.

Asia expansion

The Ostrum AM team currently has five portfolio managers and analysts in the Asia Pacific (Apac) region, led by Rushil Khanna, head of equity investments, within Natixis Investment Managers’ Singapore local operations.

Currently, the team has a specific focus on equity investments, while Ostrum AM also aims to provide fixed income expertise locally in Southeast Asia, with the upcoming arrival of a fixed income portfolio manager, the spokesperson told FA.

Globally, Ostrum AM manages around €40 billion ($43 billion) in green, social and sustainability (GSS) bonds, out of its €402 billion in assets managed for institutional clients as of end-March.


¬ Haymarket Media Limited. All rights reserved.

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What upcoming US and possible Myanmar elections could spell for Southeast Asia

When top ASEAN ( ASEAN ) diplomats from the United States meet in Laos this week, the election of president in November is likely to be the subject of discussion.

Following a occupied two weeks of intense US politics, with both former president Joe Biden and a life-threatening assault on Republican nominee Donald Trump. &nbsp,

East Asian countries may need to get ready for a situation where he is elected as a result of the near-death incident, experts said.

According to Professor Joseph Liow, Tan Kah Kee Chair in analytical and global politics at Nanyang Technological University, Trump will be more contextual than Biden, paying more attention to issues like business deficits or imbalances.

Because of its trade deficit with the US, countries like Singapore would be in the” healthy territory.” But, countries like Vietnam may be confronted with a issue, he said. &nbsp,

” From both sides, there is a realization that improving the connection between the US and Vietnam has a proper price and goal,” he said.

” On the other hand, Vietnam has a respectable business deficit with the US,” he continued.

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TM, Singtel’s Nxera break ground for sustainable, hyper-connected data centre campus in Johor

  • Aims to support the president’s push to change M ‘sia&nbsp, into modern commercial hub
  • Through collaborations between universities in Singapore and Singapore, and M’sia, JV will help to develop data center skills.

Left to right:  Khairul Liza, EVP TM Global, TM; Amar Huzaimi Md Deris, Group CEO, TM; Lee Ting Han, chairman, Johor State Investment, Trade, Consumer Affairs and Human Resources Committee; Gobind Singh Deo, Malaysia's Digital minister; Low Yen Ling, Singapore's senior minister of State for Trade and Industry and Culture, Community and Youth; Kai Nargolwala, chairman, Nxera; and Bill Chang, CEO of Nxera and Singtel’s Digital InfraCo unit.

TM and Nxera, the local information center arm of Singtel’s Digital InfraCo system, held a pioneering service for their information centre school in Iskandar Puteri, Johor. One month later, a shared venture was announced to create data centers in Malaysia and improve Johor’s reputation as a modern hub.

This 64MW state-of-the-art, green, hyper-connected, AI-ready data centre school supports Malaysia’s high-quality modern facilities. It also supports the administration’s efforts to generate the modern economy and change the country into a hub for business growth, AI development, and innovation.

Malaysia’s Digital secretary, Gobind Singh Deo, said,” This expenditure by TM and Nxera supports Malaysia’s status as the modern hub in Southeast Asia, more advancing the nation’s economic growth. Based on advance estimates, Malaysia’s economy expanded by 5.8 % in the second quarter of 2024, and such investments are in line with projections that Malaysia’s digital economy will contribute 25.5 % to the nation’s GDP by the end of the year”.

He added that Malaysia and Singapore serve as a successful working relationship between two ASEAN member state, as well as the relationship between TM and Nxera.

Onn Hafiz Ghazi, kepada besar of Johor, said,” TM-Nxera’s future data centre school, located in Iskandar Puteri, holds particular value as one of the Johor-Singapore Special Economic Zone’s initial investment projects. We welcome the complete range of their purchase with respect to high-quality system, sustainability, as well as employment and skilling opportunities which supports our emphasis on talent development, clean technology, and green energy”.

This school at the data center will act as a motivator for financial growth and help firms harness the potential of AI and cloud computing. We hope that this will help create a vivid business ecosystem, where more high-tech and high-value content companies may be drawn to their locations within the exclusive economic zone, and provide Johor’s digital economy a boost, he continued.

However, older minister of State, Low Yen Ling, said,” Data facilities are essential enablers of our electronic market, powering our market’s data-driven needs. As technology advances, strong, next-generation electronic system like the TM-Nxera Data Centre will be essential to support AI progress and develop value creation. I look forward to the outcomes we can achieve through close collaboration as a result of today’s groundbreaking, which is a milestone in the deepening economic relations between Singapore and Malaysia.

Amar Huzaimi Md Deris, TM’s Group CEO, said,” Today marks a pivotal milestone in our journey to becoming a digital powerhouse as we break ground on this cutting-edge AI-ready data centre. This facility exemplifies our commitment to fostering industry growth, driving innovation, and enhancing socio-economic development. With support from the Federal Government, and Johor state agencies and authorities, we are confident that this AI-ready data centre will equip businesses with unparalleled computing power, AI capabilities, and other cutting-edge technologies. We are eager to set the stage for a future in which AI and data analytics create transformative solutions, transformative products, and advance both our country and the world.

This state-of-the-art data center campus, which is one of Nxera and Singtel’s largest investments in the Johor-Singapore Special Economic Zone, is a key component of our strategy to empower digital economies and communities in the region while making sure energy and water resources are used responsibly and effectively, said Bill Chang, CEO of Nxera and Singtel’s Digital InfraCo unit. It expands our regional data centre platform’s strategic presence in this fast-growing Asia region”.

Our campus will spur economic growth by assisting businesses that use AI and cloud computing to increase efficiency and accelerate their business transformation, with Malaysia embracing AI to drive competitiveness and innovation. Our investment is n’t just about the campus, it is about bringing benefits to the local economy through digitalisation, developing local talent, creating employment opportunities, and enhancing international connectivity”, he added.

This cloud-enabled Tier 3 data center campus, which is scheduled to start commercial operations in 2026, will use liquid cooling to support higher power density AI workloads. The facility will be designed, built, and certified to Leadership in Energy and Environmental Design standards, incorporating energy and water-efficient solutions to optimise the use of resources. This underscores the joint venture’s commitment to long-term sustainability goals. To support the new data centre campus, the joint venture plans to expand submarine cable connectivity, enabling a thriving and vibrant digital ecosystem.

Customers can seamlessly expand their infrastructure from the city-state and the rest of the region thanks to the data center campus, which is only 16 kilometers from Singapore. Further, the data centre can be scaled up to 200MW in response to market demand.

The joint venture will encourage collaborations between universities in Singapore and Malaysia in addition to creating new employment opportunities that are crucial for nation-building. It aims to create comprehensive courses with specialized curricula that will give students the necessary skills and knowledge to help Malaysia advance its growth goals. For communities and the region, this means superior country-to-country connectivity and a smarter, more resilient digital economy.

This joint venture is subject to approval from TM shareholders in the upcoming EGM, as announced in Bursa.

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Pride and prejudice in the ‘Land of Smiles’

Mark Gooding (left), the British Ambassador to Thailand, and Remco van Wijingaarden, the Netherlands Ambassador, share their experiences at the Bangkok Post Pride Every Day forum on Wednesday at Lido Connect. (Photo: Somchai Poomlard)
Mark Gooding ( left ), the British Ambassador to Thailand, and Remco van Wijingaarden, the Netherlands Ambassador, share their experiences at the Bangkok Post Pride Every Day forum on Wednesday at Lido Connect. ( Photo: Somchai Poomlard )

Thailand’s record-breaking passage of the same-sex marriage bill has stifled progress on various LGBTQ issues to ensure equality and pride on a regular basis.

At the Bangkok Post Pride Every Day website, two ministers to Thailand, Mark Gooding of the United Kingdom and Remco van Wijingaarden of the Netherlands, delivered that message.

Before Thailand gained a foothold in Southeast Asia by acing the same rules, their nations passed them centuries later.

At the conference held on Wednesday at the Lido Connect Hall in Siam Square, the ambassadors discussed their encounters.

Both people agreed that passing for laws in Thailand would benefit the country in a variety of ways, but added that many things still need to be done to ensure that LGBTQ people in Thailand have full rights and legal protections.

The LGBTQ group in the UK continues to face a number of challenges, according to Mr. Gooding, despite the passage of the Marriage Equality Bill, which became law in 2014. Hence, it is important to reflect the issue of addition every day because LGBTQ lifestyle is never a one-month function during Pride in June, he said.

” Marriage fairness is a very important step towards fairness, but in the UK, we have to focus on various problems such as the regular discrimination, racist bullies in college, access to healthcare for LGBTQ citizens, as well as hate offences”, Mr Gooding said.

” Therefore, it is not specifically in the month of June when the Pride month is ]held worldwide ] (# ). I believe that the LGBTQ party, state, and civil society can work together to openly discuss the challenges that need to be addressed by the LGBTQ community.

Mr. Gooding described Thailand’s passage of the union equality act as a significant advance. Then, he suggested the emphasis must be on implementing it properly.

He furthermore pointed out that to further spread justice, all businesses must work as justice requires multi-sectoral speech.

” Similar marriage policy is absolutely amazing. But I do declare, that passing legislation is not the conclusion”, he said.

The execution is the next step, and the first step is to ensure that all laws are circulated so that citizens benefit after they become law. We do not want the persons to be delayed by some sort of report.

He expressed his excitement at being informed that Thailand would become the 44th nation to join the Equal Rights Coalition ( ERC ) as the framework.

A alliance of nations meets to discuss and debate promoting LGBTQ rights around the world.

” I think there will be more we can do together because Thailand has become the leader in Southeast Asia in passing the identical relationship rules,” said Mr. Gooding.

” There are many places in the world that face major drawbacks of LGBTQ right and other right, including women’s rights. Therefore, I do believe that we must work together to ensure the protection of our beliefs through international human rights.

The French practice

Even though the Netherlands was the first nation in the world to go same-sex relationship legislation in 2001, Mr. Wijingaarden argued that passing the bill was only the first step toward justice.

The costs needs to be translated into implementation laws, social protection, insurance, estate and various sections related to same-sex connections, he said.

He claimed that there are still challenges for the LGBTQ group in Thailand. Giving the case of his home state, he said transgenders also face major hurdles. In many countries, he said, LGBTQ individuals are still at higher risk of struggling with mental health problems and other issues.

” So, in the world, equal marriage does not only qualify to gay and lesbian but other acquaintances of the LGBTQ communities, and those other challenges are not only challenges for the Netherlands but also our years in the world”, he added.

He claimed that the passage of the costs would greatly enhance the happiness of Thai LGBTQ populations and remind people that marriage is about the union of two people who are in love.

It will also bolster Thailand’s reputation and attract more foreign investment from companies, especially those that prioritise diversity, equity and inclusion ( DEI), he said.

” I do wish the communities and their allies may continue to address other political issues to ensure that justice may be achieved abroad in Thailand,” said Mr. Wijingaarden.

” In the Netherlands, we have Pride quarter in August. I firmly believe that the fact that there are still many things to be done in order to achieve justice is something that needs to be addressed. It is a long-term method”.

Thailand’s involvement in the ERC is extremely important because it is a system where states can change their views, especially at the state level, on how to maintain greater diversity, he noted.

He stated that equality is not just about getting married but also about “how the government protects you.”

The Bangkok Post Pride Every Day Forum, which was held on Wednesday at Lido Connect Hall in Siam Square, is greeted with attendees and sponsors for a photo. From left: Pongput Woraratanadharm, Chief of International Public Relations Strategy, Tourism Authority of Thailand, Jitsak Limpakornkul, celebrity chef from MasterChef Thailand, Paulie Nataya Paomephan, Miss Trans Thailand 2023, Natthineethiti Phinyapincha, Founder of TransTalents Consulting Group, Richard Kua, Brand General Manager, Kiehl's Thailand, Mark Gooding, British Ambassador to Thailand, Worachai Bhicharnchitr, Vice Chairman, Bangkok Post, Remco van Wijngaarden, Netherlands Ambassador, Dr Norathep Sriprasit, Thonburi Bamrungmuang Hospital, Dr Pitakpol Boonyamalik, Chief Executive Officer, Thonburi Bamrungmuang Hospital, Nachale Boonyapisomparn, Vice President of the Foundation of Transgender Alliance for Human Rights, and Plaifah Kyoka Shodladd, Bangkok Pride Youth and Global Outreach Representative. ( Photo: Somchai Poomlard )

The Bangkok Post Pride Every Day Forum, which was held on Wednesday at Lido Connect Hall in Siam Square, is greeted with attendees and sponsors for a photo. From left: Pongput Woraratanadharm, Chief of International Public Relations Strategy, Tourism Authority of Thailand, Jitsak Limpakornkul, celebrity chef from MasterChef Thailand, Paulie Nataya Paomephan, Miss Trans Thailand 2023, Natthineethiti Phinyapincha, Founder of TransTalents Consulting Group, Richard Kua, Brand General Manager, Kiehl’s Thailand, Mark Gooding, British Ambassador to Thailand, Worachai Bhicharnchitr, Vice Chairman, Bangkok Post, Remco van Wijngaarden, Netherlands Ambassador, Dr Norathep Sriprasit, Thonburi Bamrungmuang Hospital, Dr Pitakpol Boonyamalik, Chief Executive Officer, Thonburi Bamrungmuang Hospital, Nachale Boonyapisomparn, Vice President of the Foundation of Transgender Alliance for Human Rights, and Plaifah Kyoka Shodladd, Bangkok Pride Youth and Global Outreach Representative. ( Photo: Somchai Poomlard )

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Pride and prejudice in ‘Land of Smiles’

Mark Gooding, British Ambassador to Thailand, left, and Remco van Wijingaarden, Netherlands Ambassador, left, share their experiences under the topic “When #Lovewins conquered: The UK & The Netherlands experience” at a forum titled “Bangkok Post Pride Every Day. (Photo: Somchai Poomlard)Photo By SOMCHAI POOMLARD
Mark Gooding, British Ambassador to Thailand, left, and Remco van Wijingaarden, Netherlands Ambassador, left, share their experiences under the subject” When# Lovewins conquered: The UK &amp, The Netherlands knowledge” at a community titled” Bangkok Post Pride Every Day. ( Photo: Somchai Poomlard ) Photo By SOMCHAI POOMLARD

Thailand’s unanimous passage of the same-sex marriage law has been a huge success, but the country needs to work on additional LGBTQ issues to ensure fairness and pride on a regular basis.

That text was sent by two panellists: Mark Gooding, British Ambassador to Thailand, and Remco van Wijingaarden, the Netherlands ‘ minister.

Before Thailand gained leadership in the region by doing the same, the two nations passed related rules.

The officials shared their experiences under the subject” When# Lovewins conquered: The UK &amp, The Netherlands practice “at a community titled” Bangkok Post Pride Every Time. Thailand as LGBTQ Paradise: What After# Lovewins? that occurred at the capital’s Lido Connect Hall on Wednesday.

Both speakers in the conversation agreed that passing for laws in Thailand would have a number of benefits, but added that this was only a starting point and that many things still need to be done to ensure that LGBTQ people in Thailand have full rights and legal protections.

Mr Gooding said that despite the UK’s decision to pass the Union Equality Bill in 2013, which went into effect in 2014, the UK’s LGBTQ group also faces several problems. Hence, it is important to reflect the issue of addition every day because LGBTQ lifestyle is never a one-month function during Pride in June, he said.

This time, the UK legalizes same-sex unions for the first time.

” Marriage justice is a very important step towards justice, but in the UK, we have to focus on various difficulties such as the daily prejudice, homophobic abusers in college, access to healthcare for LGBTQ individuals, as well as love crimes,” Mr Gooding said.

” So, it is not certain in the month of June when the Pride month is ]held worldwide]. I think by working up to change views openly about what the challenges are, and that needs to contain state, the LGBTQ group, federal and civil society can focus on addressing those challenges.”

Mr. Gooding claimed that Thailand’s passage of the act represented a significant advance in equality. After this, he suggested the country rely on implementing it successfully.

He added that all sectors must work together because fairness calls for concerted dialogue in order to propagate equality.

” Similar marriage legislation is absolutely amazing. However, I did caution that passing policy is not the end. The execution is the next step, and the first step is to ensure that everyone gets the benefit of the law after it becomes law. We do not want the persons to be delayed by some papers, Gooding continued.

He expressed his excitement at being informed that Thailand would become the 44th member of the Equal Rights Coalition ( ERC ).

The ERC is a group of nations that come together to discuss and debate promoting LGBTQ right around the world.

” Thailand has taken the lead in Southeast Asia by passing the identical union rules, and I think there will be more things we can accomplish together. There are many places in the world that face major drawbacks of LGBTQ right and other privileges, including children’s right. Therefore,” I do believe we must work together to ensure international human rights in order to guarantee that our beliefs are protected,” Gooding said.

In addition, Mr. Wijingaarden pointed out that passing the same-sex marriage law in the Netherlands was only the first step in achieving fairness, despite the country becoming the first nation in the world to do so in 2001.

The costs needs to be translated into implementation laws, social protection, insurance, estate and various sections related to same-sex connections, he said.

He claimed there are still challenges for Thailand’s LGBTQ society, but that acceptance is great. Giving the case of his home state, he said transgenders also face major hurdles. In many countries, he said, LGBTQ individuals are still at higher risk of struggling with mental health problems and other issues.

” So, in the world, equal marriage does not only qualify to gay and lesbian but other acquaintances of the LGBTQ areas, and those other challenges are not only challenges for the Netherlands but also our generations in the world, “he added.

He claimed that the bill’s passage would encourage LGBTQ communities in Thailand and remind people that marriage is about a couple who fall in love.

It will also bolster Thailand’s reputation and attract more foreign investment from companies, especially those that prioritise Diversity, Equity and Inclusion ( DEI), he said.

Mr. Wijingaarden said,” I do hope the communities and the allies will keep talking about other societal issues to ensure that equality will be achieved in Thailand.”

” In the Netherlands, we have Pride month in August. I firmly believe from the bottom of my heart that it is necessary to address the fact that there are still many things to be done to achieve equality. It is a long-term process, “headded.

He remarked that Thailand’s involvement with the Equal Rights Coalition is crucial because it provides a forum for countries to exchange their ideas on how to promote greater inclusivity, especially at the government level.

He argued that equality does not just mean marriage, but also “how the government protects you.”

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In an age of music streaming, vinyl records strike a chord among Indonesians

The semi-automated system used in this procedure costs about US$ 400, 000, and has the capacity to produce 30, 000 rubber records a quarter.

PHR Pressing, however, is simply producing between 1, 000 and 2, 000 records each month after a time in business, which highlights the difficulties of keeping for a business going over the long term.

Taufiq Rahman, the company’s co-founder, said,” Our problem is to persuade local suppliers, native buyers, local bands, local bands, native labels that what we have here in the center is as good as what the plants abroad even sell.”

He noted, for instance, that some rubber records the studio produced were mastered in Europe.

Learning involves the transfer of a distinct master record to vinyl to ensure the best playback with high-quality sound.

” This is our efforts to kind of take world-class superior to Indonesia”, said Taufiq.

Despite these challenges, PHR Pressing intends to push on and remains positive about demand, especially in the area. There is only one another vinyl-pressing grow in Southeast Asia, located in Thailand.

More nearby players are jumping on the bandwagon as well. White Chorus, an electronic group, just re-released their second album on vinyl, selling 200 copies through PHR Pressing.

Emir Agung Mahendra, one of its two people, claimed that looking overseas and producing its vinyl information could result in customs delays for shipments.

” If we make it in Indonesia, it will be better and more certain”, he added.

Local players are certain to enjoy a rubber release, I assure you. Vinyl is huge for guitarists”.

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How powerful are the world’s remaining royals? – Asia Times

On July 6, 2024, newly elected British Prime Minister Keir Starmer reaffirmed his commitment to British King Charles III, continuing a history that dates back a long time.

Since the demise of Queen Elizabeth II in 2022, the monarchy’s political control has become more royal and even more vulnerable because of Prime Minister David Lloyd George’s leadership in World War I.

This pattern is not exclusive to the UK, in recent decades, the role of nobility in politics has declined significantly worldwide. European colonial power began to destroy their power abroad as social ideals began to challenge royal expert in Europe.

Many European monarchies fell into dissolution as a result of World War I, and World War II increased their statistics. Following this, the Soviet Union and the US divided Europe along ideological outlines and sought to establish their democratic and liberal democratic principles elsewhere, while the remaining rulers were facing growing inequality.

Currently, fewer than 30 aristocratic families are politically active on a federal level. Some, like Japan’s and the UK’s, trace their bloodlines up more than a decade, while Belgium’s is less than 200 years older. Some have adapted, while others have maintained their powerful political influence while reducing their political influence. Their numerous methods and conditions make it difficult to determine where royals does withstand, collapse, or return.

Alongside the UK, the princes of Belgium, Spain, Sweden, Norway, Denmark, and the Netherlands have all seen their forces become mostly symbolic. Smaller European aristocratic says like Andorra and the Vatican City are no inheritance, while Luxembourg, Monaco, and Liechtenstein are—though only the latter two still wield substantial strength.

Efforts to practice the remaining royal political strength have frequently highlighted its growing reliability. Due to his refusal to sign an pregnancy act in 1990, Belgian King Baudouin was declared unfit to rule before being reinstated once it was approved.

Henri, the Grand Duke of Luxembourg, lost his legislative authority in 2008 after he refrained from signing a bill preventing death. Following increasing scrutiny of Queen Beatrix’s effect, the Dutch king’s role in forming coalition governments was transferred to legislature in 2012, and she also lost the ability to dissolve congress.

The English king’s decline in social influence is also obvious, but it can also prove beneficial. Due to their world popularity, aristocratic visits can aid in the signing of important agreements, especially in nations with other royal families. Additionally, the rulers of 14 different nations appoint King Charles III as their head of state.

Also, the monarchy can be used to bypass particular political processes. The American government advised Queen Elizabeth II to deny her consent in 1999, preventing political discussion of the Military Action Against Iraq Bill, which would have restricted the ability to carry out military operations without political acceptance.

Royal efforts to maintain sweet energy and keep a positive reputation have also been essential for their success. The royal family of Belgium is seen as a important source of political unification and security.

Past Spanish King Juan Carlos participated significantly in the government’s transition to democracy in the 1970s. Politically conservative political guardians with relevant traits who work in advocacy and humanitarian causes frequently receive higher approval ratings from European royal families than politicians.

Recent years have imperial families decreased in order to have more choice and lower costs. In 2019, Sweden’s prince removed royal titles, jobs, and some protections from five of his children. Similar changes were made by the Danish monarch in 2022. Norway’s royal household then consists only of the King, Queen, Crown Prince, and Princess, while the British royal family has hinted at more reducing its latest range of 10 “working princes”.

Despite these attempts, aristocratic families in Europe continue to face scandals and intense attention from the media and the public. Hispanic and European officials began an investigation into former Spanish King Juan Carlos in 2020 after he reportedly received US$ 100 million from a bargain with Saudi Arabia. In 2023, Belgium’s Prince Laurent was accused of fraud and bribery by Libya’s sovereign wealth fund.

The current treatment of Megan Markle by the UK royal family and Prince Harry’s and Prince Andrew’s connection with Jeffrey Epstein have also shook the country. Record-low support since Queen Elizabeth II’s death in 2022 amplifies the British monarchy’s extraordinary challenges. The King’s and Princess Kate’s tumor treatments have also added to the feeling of weakness.

Across Europe, social swings, concern over royal costs, and increasing political indifference have threatened its royal people. Activities like the Alliance of German Republican Actions, created in 2010 to abolish kings immediately, reflect the increasing disrespect for royal authority.

The impenetrable nature of imperial finances, nevertheless, has granted some respite. Actually, Grand Duke Henri of Luxembourg’s$ 4 billion makes him Europe’s richest king. But, suspicions abound regarding billion more in resources like trusts, apparel, and art selections that point to larger degrees of success.

Intensive efforts go into hiding these riches. Liechtenstein’s imperial family operates a lender criticized by the US Senate for aiding users in tax avoidance, dodging debts, and other misbehavior. Queen Elizabeth II once used her Queen’s Consent to alter a draft law, concealing her wealth while the Panama Papers leaks exposed sizable undisclosed royal assets in Europe.

Europe’s poorest royal family in Belgium saw King Phillippe declare the monarchy’s wealth at roughly £11 million in 2013, but the European Union Times estimated it at £684 million.

Estimates for King Charles’s worth range from$ 750 million to more than$ 2 billion, while the fortunes of the entire British royal family, also known as” the Firm”, can range from$ 28 billion to almost$ 90 billion. Additionally, more institutionalized ties to national wealth are held by the British monarchs than by other European monarchs.

Through the peerage system that upholds British nobility, a network of support from wealthy Dukes, Marquesses, Earls, Viscounts, and Barons helps the monarchy remain firmly entrenched in the UK’s wealth centers.

Royal families in the Asia-Pacific consist of Thailand, Malaysia, Cambodia, Brunei, Japan, and Tonga. Thailand’s king is the world’s richest, with a net worth of$ 43 billion, but faces his own controversies relating to personal scandals and the use of political powers that have led to an anti-monarchy movement.

Nine sultans who rule their own states and serve as heads of state in Malaysia are a rotational system that takes place every five years. The sultans have limited formal authority, but they do have influence in cultural and religious matters. They also occasionally intervene in politics despite constitutional amendments restricting their authority. In Cambodia, the monarchy is similarly politically and culturally influential.

Brunei’s absolute monarchy has granted its Sultan, Hassanal Bolkiah, supreme authority over his country for more than 50 years. His$ 288 billion fortune makes him the second-richest monarch in the world. However, as a microstate, Brunei’s influence in international affairs is limited.

Japan’s monarchy’s diminished power since 1945 has since resembled European monarchies the most, despite the fact that its powers have remained constant since then. In sub-Saharan Africa, partnerships with British colonial authorities have allowed Lesotho’s monarchy to retain largely ceremonial influence, while Eswatini’s King Mswati III exerts strong control over the country.

Nonetheless, alongside Europe, most regions have seen general declines in royal power over decades. The Middle East, where monarchies once had swayed hands under the Ottoman Empire, is bucking that trend. Its collapse after World War I allowed them to increase their power considerably, even those under loose French and British protectorates.

Particularly the Gulf monarchies were successful by utilizing their increasingly valuable resource reserves. Today, absolute monarchies exist in Saudi Arabia, the United Arab Emirates ( UAE), Bahrain, Oman, Qatar, and Kuwait with complete control over media, government branches, and law enforcement.

They are supported by religious organizations that reinforce their status as the preservers of cultural traditions, and no opposition is tolerated. Despite their heavy-handed behavior, they largely enjoy strong support, even among young people. The Saudi Crown Prince has long been a favorite among younger Saudis in particular.

As in Europe, Middle Eastern royal wealth is often hidden and difficult to discern. Between$ 100 billion and$ 1.1.4 trillion, the Saudi royal family’s combined wealth is estimated. According to other estimates, Abu Dhabi’s Al Nahyan family, which owns more than$ 300 billion in assets, is the richest royal family in the world. Qatar and Kuwait’s royal families have fortunes that range from hundreds to billions.

The other Middle Eastern royal families in Oman, Jordan, and Morocco, have less influence, but still more so than in Europe, and have also withstood democratization pressures by promoting stability. The monarchies and their political systems remained in place during the Arab Spring as other Middle Eastern states went through revolutions and civil wars.

However, the downfall of royal families in Egypt, Tunisia, Iraq, North Yemen, Libya, and Iran during the 20th century shows the risks of instability. Today, this often comes from within the royal families themselves. Saudi royal disputes frequently occur in public, including a widespread purge in 2017.

Jordan’s crown prince was placed under house arrest in 2023 for an attempted coup, but he later emerged and pledged his allegiance to the king days later. The 2017–21 Qatar-Saudi Crisis meanwhile saw Saudi Arabia, the UAE, Bahrain, and Egypt sever diplomatic relations and blockade Qatar following accusations of supporting terrorism and supporting Iran.

While some of their positions may be difficult, royal families still show some decency in their relationships. The historical unions between European royals indicate that the current ruling royals in Europe are all related, much like some Middle Eastern monarchies. Following controversy over corruption allegations, Spain’s Juan Carlos meanwhile lived in exile in the UAE for two years.

Royals have also taken more active roles to help one another. In World War I, the British royal family significantly assisted the Arab monarchs in supporting the Ottoman Empire. In 1962, the British monarchy, which was in close contact with the Brunei monarchy, helped lobby for the country’s independence and halted an armed rebellion, keeping British influence in Southeast Asia.

Other royal families may still be able to retake the throne. More than 20 royal families remain without a country to reign over, with Spain’s monarchy being restored in 1975 and Cambodia’s in 1993 the latest to be reintegrated into politics.

An estimated one million people gathered in Romania to welcome the former King Michael, who had abdicated in 1947. The daughter of former King Michael, Margareta of Romania, now lives in Elisabeta Palace in Bucharest, and other family members have taken a growing role in politics.

Bulgaria’s former Tsar, Simeon II, lived in Spain after being overthrown in 1946 and returned to Bulgaria after the communist government crumbled, serving as prime minister from 2001 to 2005.

Albania’s Prince Leka, grandson of former King Zog I, attempted to reinstate the monarchy in a 1997 referendum but failed. Family members of the ex-Italian King Umberto II filed a lawsuit in 2007 for damages for their exile and the return of assets, but the Italian government objected.

The case of the Italian royal family demonstrates how disputes between exiled royals can have political connotations. Greece’s royal family now lives in London, frequently appearing at royal functions. Meanwhile, members of Iran’s former royal family, as well as descendants of Ethiopia’s and Russia’s, live in the US.

Although there is no current strategy or desire to re-establish a political movement to replace them, diaspora communities ‘ support for royalty can still aid host governments in exerting influence through them.

Monarchies have largely relinquished political power in the contemporary liberal world order after surviving fascism and communism. Yet, as symbols of state continuity, some monarchs have maintained their relevance by providing long-term stability.

While incompatible with communism, royalty’s adaptability to democratic and fascist regimes highlights their resilience. Their ability to reinvent themselves and demonstrate how useful they are to contemporary politics may ensure their survival, despite the fact that their declining popularity suggests this will continue to be challenging.

John P Ruehl is an Australian-American journalist living in Washington, DC, and a world affairs correspondent for the Independent Media Institute. He contributes to several other foreign affairs publications as well as contributing to Strategic Policy. His book,” Budget Superpower: How Russia Challenges the West With an Economy Smaller Than Texas”, was published in December 2022.

This article first appeared on Independent Media Institute, and it has since been republished with kind permission.

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