9 h. ago Can Indonesia’s cabinet reshuffle restore public trust and calm protesters?

Indonesian President Prabowo Subianto’s cabinet reshuffle is a “tactical” step to restore public trust in the government, according to analysts, but they argue it will not be enough to quell the unrest among protesters if it does not lead to more systemic reform. The shake-up on Monday saw the departure of high-profile officials such as Finance Minister Sri Mulyani Indrawati and Coordinating Minister for Political, Legal and Security Affairs Budi Gunawan, alongside the creation of a stand-alone...

Events

36 h. ago Indonesia removes finance minister Sri Mulyani after protests

Indonesia removes finance minister Sri Mulyani after protests  South China Morning Post

Politics

7 d. ago John Lee leads Victory Day delegation to Beijing as Hong Kong prepares events

Hong Kong has dispatched its largest-ever commemorative delegation to Beijing, led by the city’s leader, to honour China’s victory over Japan in the second world war at a highly anticipated military parade, with the city preparing to host a series of celebratory events. At around 8am on Tuesday, delegation members, including Chief Executive John Lee Ka-chiu and his wife Janet Lam Lai-sim, finance minister Paul Chan Mo-po, police chief Joe Chow Yat-ming and lawmaker Kingsley Wong Kwok, were seen...

Politics

1 week ago Homes of Indonesian finance minister, lawmakers looted as unrest widens

Demonstrations in Indonesia escalated on Sunday with reports of looting at the homes of the finance minister and several lawmakers, as a fire started by protesters at a council building killed at least three people. Frustration with lawmakers, accused of being oblivious to the struggles of common folk, snowballed into widespread violence after a delivery driver was fatally hit by a police tactical vehicle deployed to deal with protesters earlier decrying low wages and financial perks for...

Politics

1 week ago Indonesia to remove perks for MPs, suspend errant lawmakers amid protests

Indonesian political parties have agreed to revoke a number of perks and privileges for parliamentarians, President Prabowo Subianto said on Sunday, following protests and rioting across the Southeast Asian country. Protests in Indonesia escalated on Sunday with reports of looting at the homes of the finance minister and several lawmakers, as a fire started by protesters at a council building killed at least three people. Frustration with lawmakers, accused of being oblivious to the struggles of...

Events

1 week ago Hong Kong audit regulator imposes fine of US$245,000 on auditor Deloitte

Hong Kong's audit regulator imposed a combined HK$1.9 million (US$245,000) fine on Deloitte Touche Tohmatsu and two of its partners for multiple audit deficiencies related to two former listed companies from 2011 to 2013, the authority said on Thursday. The move was part of the first batch of disciplinary cases from the Accounting and Financial Reporting Council (AFRC) with the help of the mainland’s Ministry of Finance (MOF). “The successful completion of these disciplinary cases attests to the...

Politics

1 week ago Hong Kong audit regulator imposes fine of US$245,000 on Deloitte

Hong Kong's audit regulator imposed a combined HK$1.9 million (US$245,000) fine on Deloitte Touche Tohmatsu and two of its partners for multiple audit deficiencies related to two former listed companies from 2011 to 2013, the authority said on Thursday. The move was part of the first batch of disciplinary cases from the Accounting and Financial Reporting Council (AFRC) with the help of the mainland’s Ministry of Finance (MOF). “The successful completion of these disciplinary cases attests to the...

Politics

2 w. ago India to ban ‘harmful’ online money games, threatening US$3.6 billion industry

India’s parliament on Thursday passed a bill to ban online games played with money in a move that threatens the survival of the popular fantasy gaming sector, after Prime Minister Narendra Modi’s government flagged the high risk of financial harm. The sudden ban has shocked an industry backed by venture capital firms like Tiger Global and Peak XV Partners and which was set to be worth US$3.6 billion in India by 2029. Executives fear imminent job losses and a complete shutdown of many app-based...

Economics

3 w. ago China bans agencies and individuals from dealing with 2 EU banks

China decided on Wednesday to sanction two European banks as a countermeasure against previous financial sanctions from the 27-member bloc. The Ministry of Commerce will ban Chinese agencies and individuals from doing business with UAB Urbo Bankas and AB Mano Bankas, according to its online statement. The two banks are both from Lithuania, a country that has been one of Beijing’s most vociferous critics in Europe and was previously targeted by economic sanctions from Beijing after seeking to...

Economics