Philippine Financial News – Page 624 – Financial News and Events in the world and Philippines

Eastern Media Group Fully Embraces AI Natural Beauty Launches Strategic Partnership with Baidu

Yulia Navalnaya, the widow of Alexei Navalny, has rejected a new report from Russian investigators claiming her husband died from an irregular heartbeat and multiple health problems, calling it a "pathetic attempt to hide what happened - a murder." Navalny, a prominent critic of Russian President Vladimir Putin, died at a prison colony in Siberia six months ago. Navalny reported feeling unwell after a walk before losing consciousness and dying. Investigators now allege in a report shared Wednesday by Navalnaya that the 47-year-old passed away due to a range of health issues, including arrhythmia and cholecystitis, inflammation of the gallbladder. "The truth is that this is not a diagnosis, not the results of a test, but a mockery. This is another rather pathetic attempt to hide what happened -- a murder," "And everyone who writes these papers, writes these false reports -- are accomplices to this murder." "I showed this diagnosis to my doctors. They all came to the same conclusion: they opened it up, examined it, but couldn't find anything -- no blood clot, no signs of a heart attack or stroke either," she added. "So they wrote about ‘arrhythmia’ to at least write something. Because people don't just die like that." "All these chronic diseases, like the gastroduodenitis and pancreatitis listed by the investigator... Well, excuse me, every third person in Russia has such diseases. Suddenly, in an hour, you don't die from such things. But even if we assume that they existed... why weren't they diagnosed in the numerous colonies where Alexei was? Why wasn't he treated? Why was such a sick person sent to a punishment cell and kept there for months?" Navalnaya continued. "There can be one explanation for this. The only one. They killed him, and now they are trying to cover up the tracks as much as possible," she said. and his obliging comrades... think that we will now shrug our shoulders and say ‘well, okay, so no’ -- they are deeply mistaken. The lawyers will appeal every such document. We will demand that a criminal case be opened," Navalnaya concluded. "I demand that they hand over to us all the medical documents, including the autopsy report... and also that they hand over all of Alexei's personal belongings." In February, President Biden said there is "no doubt" that Navalny’s death was a "consequence of something that Putin and his thugs did."

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Afghanistan’s Situation Worsens Under Taliban Rule After Three Years

August 15, 2024

Conditions for Afghans living under Taliban rule have deteriorated over the past three years, with the humanitarian crisis deepening, women's rights being severely curtailed, and Kabul largely isolated from the international community.A quarter of Afghans face extreme poverty, more than half the nation requires humanitarian assistance, and according to the United Nations Development Program (UNDP), a significant portion of the population is "subsistence insecure," meaning they lack consistent access to essential resources such as food, water, housing, and healthcare.Following the Taliban takeover of Kabul on August 15, 2021, Afghanistan's economy "basically collapsed," according to the UNDP, largely due to the cessation of international funding through government donor programs, like the Afghanistan Reconstruction Trust Fund.The Taliban has exacerbated its own economic crisis by promoting its extremist ideologies and implementing oppressive bans on women's participation in public life or education. In the three years since Washington concluded its "War on Terror," many have questioned whether life in Afghanistan is worse than it was before the September 11, 2001, terrorist attacks on the U.S. and its subsequent invasion."If it's not worse, it's heading in that direction quickly," Michael Rubin, senior fellow at the American Enterprise Institute and expert on security issues in the Middle East and South Asia, told Digital. The Taliban has not only reinstated harsh bans on women, but it has also reintroduced corporal punishment through public floggings and amputations. Additionally, the Taliban's supreme leader, Mullah Hibatullah Akhundzada, in May threatened to reinstate stoning women to death for adultery – a Taliban punishment on women that was never fully eradicated even during the U.S. incursion. "The biggest difference between now and pre-2001 is the Taliban are much better resourced," said Rubin, who spent time with the Taliban before the 9/11 attacks.Rubin said that even though the Taliban are not directly funded by international humanitarian groups, it has found ways to siphon off funding for its own gains. The Taliban marked the three-year anniversary of the takeover of Kabul in a parade on Wednesday at Bagram Air Base – formally the largest U.S. military base in Afghanistan – while showing off U.S. military hardware that had been abandoned following the withdrawal.While neglecting any mention of human rights, speeches championing Taliban efforts to squash opposition to the extremist group were flaunted, along with a reference to Afghanistan’s continued isolation from the international community."The Islamic Emirate eliminated internal differences and expanded the scope of unity and cooperation in the country," Deputy Prime Minister Maulvi Abdul Kabir said in reference to a term the Taliban uses to describe its government, according to an AP News report. "No one will be allowed to interfere in internal affairs and Afghan soil will not be used against any country."Former U.S. military machinery like helicopters, tanks and vehicles were displayed alongside soldiers holding light and heavy machine guns."The Taliban holds these parades yearly to rub their victory and our defeat in our face," Bill Roggio, senior fellow at the Foundation for Defense of Democracies and founding editor of "The Long War Journal," told Digital.Afghanistan has largely remained an international pariah over its human rights violations. But even as some countries have begun to allow for diplomatic engagement with the insurgent group, Western nations remain highly concerned over how Afghanistan has once again become a haven for terrorist organizations."Afghanistan is far more dangerous today than it was prior to 9/11," Roggio said. "The Taliban is in full control of the country, and it is sheltering and supporting al Qaeda and allied terror groups."Roggio said al Qaeda is once again running training camps in at least 12 provinces across the country with very little internal resistance.

Iran’s President Vows Retaliation in Rare Call with UK

August 15, 2024

Newly elected Iranian President Ebrahim Raisi asserted his country's right to retaliate against Israel during a rare phone call with British Prime Minister Sir Keir Starmer. Starmer made it clear to Raisi during the 30-minute call that "war is not in anyone’s interest" and urged Tehran to "refrain from attacking Israel." The call followed a joint statement from the heads of the United States, the United Kingdom and three other European countries. The Iranian president, however, insisted that a strong response to an attack "is a right of nations and a solution for stopping crimes and aggression," . "The support of some Western countries for the Zionist regime is irresponsible and contrary to international standards since it endangers regional security by encouraging the Zionist regime to continue its crimes," Raisi reportedly told Starmer.Tensions remain high after Israel’s alleged assassination of Hamas commander Ismail Haniyeh, who was in Tehran at the time of his death. Iran denounced Haniyeh’s murder and blamed Israel, even though Haniyeh died in what was later deemed a localized explosion that killed no Iranian citizens.International pressure from European and Arab nations alike did not seem to dent Iran’s desire to avenge the commander of one of its most prominent proxy groups. Regional sources this week told foreign correspondent Trey Yingst on Monday that they are concerned Iran and its proxies within the next 24 hours in retaliation for the killing of Hamas political leader Ismail Haniyeh in Tehran late last month. No attack materialized in that time, but it did not dampen concerns.Hamas representatives on Sunday declared they would not participate in in Gaza unless mediators presented a plan based on previous talks. The representatives insisted that the group had shown "flexibility" throughout the negotiation process but that Israel – through actions such as the alleged assassination of Haniyeh – indicated it was not serious about a cease-fire agreement.Iranian Supreme Leader Ayatollah Ali Khamenei ordered his forces to "harshly punish" Israel for the killing of Haniyeh, and Islamic Revolutionary Guard Corps deputy commander Ali Fadavi told Iranian media last week that the orders would be "implemented in the best possible way," . Israel this week conveyed to the United States and several European allies that any attack from Iran – even if it does not kill any Israelis – will lead to another retaliatory strike on Iranian territory, .The statement aimed to preempt another round of international pressure that would try to stop Israel from responding forcefully.Tensions continue to slowly ratchet up across the week, with Iranian banks on Wednesday suffering a major cyberattack that all but crippled the institutions, . Hackers stole information belonging to account holders and hit several other banks.Iran has not yet blamed Israel, and no other nation or party has claimed credit, but Iran blamed the U.S. and Israel for the last major cyberattack to hit the country. Digital's Greg Norman and Bradford Betz and

Gambling Commission States FRAs Do Not Function as Affordability Checks

KUALA LUMPUR, Aug 14, 2024 - (ACN Newswire via SeaPRwire.com) - Solar District Cooling Group Berhad ("SDCG") is pleased to announce that it has entered into an underwriting agreement with Mercury Securities Sdn Bhd (“Mercury Securities”) today for its upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad.1.Mr Chris Lai Ther Wei, Director, Head of Capital Markets, Mercury Securities 2.Ms Tan Tai Kim, Director, Corporate Finance, Mercury Securities 3.Mr Chew Sing Guan, Managing Director of Mercury Securities 4.Mr Edison Kong, Managing Director, Solar District Cooling Group 5.Ms Eileen Liuk, Executive Director, Solar District Cooling Group 6. Ms Sheryn Chow Suet Yim, Director, Corporate Finance, Mercury Securities [L-R]SDCG and its subsidiaries (“Group”) are principally involved in the provision and maintenance of building management systems (BMS), solar thermal solutions and energy saving services. The Group has a proven track record of enhancing energy efficiency across various sectors and strives to establish benchmarks in energy management and cost efficiency.The IPO involves the public issue of 118,670,000 new ordinary shares ("Issue Shares"), representing 28.00% of SDCG’s enlarged issued share capital of 423,822,460 ordinary shares upon its listing.The Issue Shares will be allocated in the following manner:Malaysian Public: 21,192,000 Issue Shares representing 5.00% of the enlarged issued share capital for application by the Malaysian public, with 50.00% set aside for Bumiputera investors.Eligible Persons: 21,192,000 Issue Shares representing 5.00% of the enlarged issued share capital for application by eligible directors, employees, and persons who have contributed to the Group’s success.Selected Investors: 76,286,000 Issue Shares representing 18.00% of the enlarged issued share capital made available by way of private placement to selected investors.Mercury Securities will underwrite all the 42,384,000 Issue Shares made available for application by the Malaysian public and eligible persons.Mr. Edison Kong, Managing Director of SDCG, expressed his enthusiasm for the IPO, stating, “Our listing will enhance our visibility and reputation in the market and enable our directors, employees, business partners, and public investors to participate in the growth and continued expansion of our business, increasing shareholder value. We would like to express our sincere gratitude to Mercury Securities for their support and confidence in our Group."He added, "This corporate milestone will help scale our Group to new heights by tapping new opportunities and responding to the evolving needs of our customers and market trends. We remain focused on providing innovative solutions that create value for our customers, striving to exceed their expectations.Mr. Chew Sing Guan, Managing Director of Mercury Securities said, "We are delighted to be the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for SDCG and to play a part in their new corporate journey as a listed company on the ACE Market of Bursa Malaysia Securities Berhad. The listing will enable SDCG to tap into the capital market for its growth and expansion plans in the future."1. Mr Chew Sing Guan, Managing Director of Mercury Securities 2. Mr Edison Kong, Managing Director, Solar District Cooling Group[L-R]ABOUT SOLAR DISTRICT COOLING GROUP BERHADSolar District Cooling Group Berhad (SDCG) and its subsidiaries (the “Group”) is an established services provider of energy-efficient building management and solar thermal systems in Malaysia. The Group specialises in the design, installation, and maintenance of BMS and solar thermal solutions, serving a diverse range of sectors including commercial, institutional, and industrial properties. With a commitment to sustainability and innovation, SDCG has earned a reputation for excellence in the building management system and solar thermal industries.For more information, visit www.sdc.myIssued By: Swan Consultancy Sdn Bhd on behalf of Solar District Cooling Group.For more information, please contact:Jazmin WanTel: +60 17-289 4110Email: j.wan@swanconsultancy.bizWilliam YeoTel: +60 16-213 2103Email: w.yeo@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.

UAE Bans Ships Linked to Russian Sanctions-Circumvention Efforts

August 14, 2024

The United Arab Emirates has taken a stance against Russia's efforts to circumvent Western sanctions by refusing entry to its ports for any vessels from Eswatini, a country Russia is using to create a "shadow fleet" of ships. "Using a ‘shadow fleet’ to smuggle oil while concealing its origin, in order to circumvent Western economic sanctions has been part of Putin’s playbook of sanction-proofing Russia’s economy," Rebekah Koffler, a former DIA intelligence officer and author of "Putin’s Playbook," told Digital. "Moscow anticipated U.S. sanctions prior to ," Koffler said. "So, Putin has been sanction-proofing the Russian economy with several measures since 2014, when the Russian forces took over Crimea.""The vessels comprising this dark fleet are typically aging, lack proper safety standards, lack insurance, hence they present a threat to maritime security as they can create a hazardous situation at any time," she added. A list of ships published by the UAE Ministry of Energy and Infrastructure names Eswatini as the latest country to which no services from any UAE ship agents or maritime company should be provided as they "are not complying with this circular to avoid legal accountability." "…this Administration has decided to include the vessels registered under the flag state of Eswatini (Swaziland) to the existing list of restricted flag State vessels calling UAE waters and ports, unless they are classified by a member of IACS Class or by the Emirates Classification Society," the notice read. The flags of Eswatini started showing up this year, with ship broker Clarkson Research Services Ltd. reporting zero ships in 2023 registered under the Eswatini flag even as 26 such ships now sail the seas. Eswatini is a landlocked country in Southern Africa and has increasingly worked with Russia to transport oil as part of dodging sanctions. of 18 Eswatini-flagged ships in ship-tracking data, finding that 16 had "unclear" ownership, but that several tankers transported oil produced in Russia and Iran. The United States sanctioned three Eswatini ships for supporting the regime of Syrian President Bashar al-Assad and later helping export grain from Russian-occupied parts of Ukraine during the briefly brokered grain corridor, . A spokesman for the Eswatini ship registry told the outlet that the country delisted two of the ships for breaking the country’s administration guidelines of compliance, but one month later two of the ships continued to fly the Eswatini flag. The spokesman argued that once the country delists a ship, they stop following them, and any use of the flag is "illegal and invalid." The Atlantic Council think tank in January on the growing Russian "dark fleet," estimating that 1,400 ships make up the fleet and operate in a "gray zone" that makes it hard for countries to punish. The great concern, as both Koffler and the Atlantic Council noted, focuses on the poor condition of these ships since they operate illegally and do not want to raise suspicion from officials. The think tank called such ships "aging and poorly maintained," which has given rise to incidents that legitimate vessels end up having to pay for, since the shadow fleet lacks proper insurance.That puts the burden on coastal nations, which are obligated under search-and-rescue convention to put in time and resources to help distressed illegal vessels without recourse. "The potential harm to coastal states is tangible, but since the aggression doesn’t involve military, it means it’s virtually impossible for a country to avenge harm caused to it by a shadow vessel, even if it can prove the ship is transporting Russian cargo," Atlantic Council senior fellow Elisabeth Braw wrote.

Japan Issues First ‘Megaquake’ Advisory, Raising Fears and Uncertainty

August 14, 2024

Japan, a nation frequently experiencing earthquakes, issued its inaugural "megaquake advisory" last week in response to a powerful earthquake that struck off the southeastern coast of Kyushu.The magnitude 7.1 quake resulted in no fatalities or severe damage, but the advisory has sparked widespread confusion and anxiety among the population, accustomed to regular seismic activity, concerning the timing of the next major quake.The Associated Press explains the implications of the advisory, the recommended actions for the public, and the potential consequences of a massive earthquake in Japan.Following the August 8th magnitude 7.1 earthquake that occurred on the western edge of the Nankai Trough, the Japan Meteorological Agency issued the advisory, concluding that it heightened the probability of another significant earthquake.There exists a 70-80% chance of a major earthquake associated with the Nankai Trough within the next three decades, and the JMA asserts that the probability is now "elevated" subsequent to the recent quake.However, Naoshi Hirata, a seismologist at the University of Tokyo and head of the JMA's expert panel, emphasizes that this advisory does not predict a megaquake at any specific time or location. He encourages vigilance and preparedness among the populace.The Nankai Trough, an undersea trench extending from Hyuganada off the southeastern coast of Kyushu to Suruga Bay in central Japan, spans approximately 500 miles along the Pacific coast.The JMA explains that the Philippine Sea Plate's gradual downward movement on the Eurasian Plate occasionally causes a rebound effect, which could trigger a megaquake and tsunami.The last Nankai Trough earthquake, which occurred off Shikoku in 1946, registered an initial magnitude of 8.0, causing the loss of over 1,300 lives.In 2013, a government disaster prevention team projected that a magnitude 9.1 Nankai Trough quake could generate a tsunami exceeding 33 feet within minutes, resulting in the deaths of as many as 323,000 individuals, the destruction of over 2 million buildings, and economic damage exceeding $1.5 trillion to vast stretches of Japan's Pacific coast.In response to the "megaquake advisory," Prime Minister Fumio Kishida cancelled his planned August 9-12 trip to Central Asia and declared his commitment to leading the government's response, ensuring preventive measures, and facilitating public communication.The Fire and Disaster Management Agency directed 707 municipalities identified as being at risk from a Nankai Trough quake to reassess their response measures and evacuation plans.Experts and officials have urged the public to maintain composure and continue their daily social and economic activities while concurrently securing emergency food and water supplies and discussing evacuation plans with family members.In a reassuring statement on Monday, JMA experts affirmed that they have not detected any abnormal seismic or tectonic activity indicative of an impending megaquake.The "megaquake advisory," filled with scientific terminology, has instilled anxiety and confusion among the populace nationwide. Some towns have closed beaches and cancelled annual events, creating challenges for travelers during Japan's Obon holiday week, traditionally a time for festivals and fireworks across the nation.Many individuals have postponed planned trips and rushed to stock up on rice, dried noodles, canned food, bottled water, portable toilets, and other emergency goods, emptying shelves at numerous supermarkets in Tokyo, even though the capital is outside the at-risk area.The Summit supermarket chain reported a shortage of microwavable rice and has imposed a limit of one pack per customer.Yoshiko Kudo and her husband Shinya expressed difficulty in comprehending the exact implications of the advisory, the level of concern warranted, and the appropriate actions to take."We are trying not to go overboard. Excessive worry is not beneficial," Yoshiko Kudo remarked."We are unsure how to prepare while maintaining a normal lifestyle as advised by the experts," said Shinya Kudo, a caregiver in his 60s.Yoneko Oshima, walking near a major train station in Tokyo, expressed her apprehension: "It's frightening... They say there's a (70-80%) chance in the next 30 years, but it could happen tomorrow." Her recent purchase was a portable toilet. She emphasizes the importance of water for her diabetic husband, who requires medication after every meal."I intend to seize this opportunity to create a list and ensure we have everything readily available," Oshima stated. While she has not altered her holiday plans for this week, her daughter cancelled a planned trip to Mount Fuji.In Matsuyama city on the island of Shikoku, renowned for its hot springs, hotels, and resorts, have reviewed their evacuation procedures and emergency equipment, and have implemented a radio communication system for emergency use. They have received numerous cancellations since the advisory was issued, according to Hideki Ochi, director of the Dogo Onsen Ryokan Association.Rail companies serving the region have reduced train speeds slightly as a precautionary measure.A crisis management task force in the coastal town of Kuroshio in Kochi prefecture, where a major earthquake was predicted in the government risk analysis, initially established 30 shelters across the town. However, only two remain open following Monday's JMA statement that there has been no indication of an imminent megaquake.Higashi Osaka urged residents on the town's website to refrain from "unnecessary and non-urgent" travel in the event of a major earthquake.The popular seaside town of Shirahama in Wakayama prefecture announced that its four outdoor hot springs, parks, and other facilities would be closed for a week. Saturday's annual fireworks festival was also cancelled.

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