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As much as $300 billion in Russian assets, frozen in the West since the invasion of Ukraine, is piling up profits and interest income by the day. Now, Europe and the United States are considering how to use those gains to aid the Ukrainian military as it wages a grueling battle against Russian forces. There has been a debate for months about whether it would be legal or even wise to confiscate the frozen assets altogether. They argue that confiscation would be a bad precedent, a violation of sovereignty and could lead to legal challenges, financial instability and retaliatory seizures of Western assets abroad. But proposals to seize and use the profits earned on those Russian assets — the interest on accumulated cash stemming from the sanctions, said Euroclear, a financial services company — are gaining considerable ground.
Persons: Christine Lagarde, Euroclear Organizations: Russian, European Central Bank Locations: West, Ukraine, Europe, United States, Britain, France, Germany, Indonesia, Italy, Japan, Saudi Arabia
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022. The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. Starting this year, President Joe Biden will quadruple tariffs on imported Chinese electric vehicles, from 25% to 100%. And tariffs on some Chinese steel and aluminum imports will increase more than three-fold, from 7.5% today up to 25%. First-time tariffs will be imposed on Chinese imports of medical needles and syringes, as well as massive ship-to-shore cranes, the White House said in a fact sheet.
Persons: Joe Biden, Xi Jinping, Biden, Katherine Tai Organizations: . Trade Locations: Bali , Indonesia, China
The cost to obtain a short-term visa to visit Sri Lanka rose from $50 to $100 in April. In response, VFS Global said, "Visa categories were introduced as per the directives of [Sri Lanka's] Department of Immigration and Emigration (DI&E)." Both parties agreed that 30-day travel visas priced at $50 had been reinstated as of May 7. But VFS Global's fees angered many in Sri Lanka's travel industry and led to allegations of corruption by Sri Lankan opposition leaders. "The government of Sri Lanka won't be charging, but the platform … will," he said.
Persons: Harin Fernando, VFS, scammers, Fernando, Organizations: VFS, Sri, Harin, CNBC, of Immigration, E, Sri Lanka's Ministry of Public Security, VFS Global Locations: Sri Lanka, Sri Lanka's, Sri Lankan, India, China, Indonesia, Japan, Malaysia, Russia, Thailand
Apple desperately needs its Next Big Thing
  + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com   time to read: +10 min
But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.
Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia
Read previewA Navy supply ship was run aground by a junior officer off the coast of Bahrain shortly after the ship's master — or captain — left the bridge to eat dinner, an investigation revealed. The master took the ship there and then went to eat dinner, leaving the ship in the hands of a much more junior third officer. Less than 30 minutes later, the Alan Shepard was grounded on a shoal. An MH-60S Sea Hawk approaches the Lewis and Clark-class dry cargo and ammunition ship USNS Alan Shepard. Sailors aboard guided-missile destroyer USS Spruance hold the phone and distance line during a replenishment-at-sea with dry cargo ship USNS Alan Shepard.
Persons: , Alan Shepard, Lewis, Clark, James Hong, Military.com, Alan Shepard's, Spruance, Taylor Crenshaw, Arleigh Burke, Andrew Langholf, Howard, Cmdr, Kenji Igawa Organizations: Service, Navy, Business, US Navy, US Coast Guard, Halsey Locations: Bahrain, Bali, Indonesia
On Saturday, stars gathered on the steps of The Music Center in Los Angeles for the Gold Gala — a celebration of Asian Pacific influential talent across entertainment, fashion, technology and more, hosted by the non-profit Gold House. Actor Eugene Lee Yang attends the Gold Gala in an eye catching ensemble. It’s not something that I grew up imagining I’d have for myself.”Lucy Liu, wearing a gown by Bibhu Mohapatra, and Karan Johar exchange a greeting at the Gold Gold 2024. Michael Kovac/Getty ImagesFrom left to right, Shelby Rabara and Harry Shum Jr. attend the Gold Gala. So that’s been wonderful to see people take chances, and how we’ve knocked it out of the park,” Lakshmi told CNN.
Persons: Karrueche Tran, Thai Nguyen, , , Tran, Nymphia, Sheng Cheong, Karan Johar, Agnez Mo, Eugene Lee Yang, Charley Gallay, Araya Doheny, Jeannie Mai, ” “, Padma Lakshmi, Lucy Liu, Joel Kim Booster, ” Lucy Liu, Bibhu Mohapatra, Michael Kovac, Shelby Rabara, Harry Shum Jr, Monica Schipper, USC Annenberg, Tommaso Boddi, Rodin Eckenroth, that’s, we’ve, ” Lakshmi, Prabal Gurung Organizations: Los Angeles CNN, The Music Center, CNN, Getty, Pacific, Gold House, USC Locations: Los Angeles, Pacific, American, Vietnamese, African American, City, , Indonesia, Hollywood, Thai
Agtech startup Rize aims to lower rice farming's methane emissions in southeast Asia. The Singapore-based startup recently raised $14 million in Series A funding from investors. A 10th of the world's methane emissions comes from rice farming, as bacteria break down in wet rice paddies and release the gas. To reduce rice's methane footprint, agtech startup Rize is working with small rice farmers in Vietnam and Indonesia — locals who manage a farm about the size of one and a half soccer fields. Rize's on-the-ground scientists use the startup's tech platform and green growing techniques to help these farmers grow rice more sustainably and increase their harvest.
Persons: Organizations: Service, Business Locations: Rize, Asia, The Singapore, Vietnam, Indonesia
CNN —At least 37 people have been killed, and more than a dozen injured on the Indonesian island of Sumatra after heavy rains triggered flash flooding and a cold lava flow from an active volcano, search and rescue officials said on Sunday. Cold lava, also known as lahar, is a mixture of volcanic debris such as ash, sand and pebbles that flows down a volcano’s slopes during wet weather. Images shared by Indonesia’s disaster response agency showed thick mud and ash partially covering roads and mountainside villages near the foot of Mount Marapi, an active volcano in western Sumatra. Adi Prima/Anadolu/Getty ImagesThe 2,891-meter-high (9,500 feet) Mount Marapi is among the most active volcanoes in Indonesia, which lies on the Pacific Ring of Fire with 127 active volcanos – more than anywhere else in the world. It has erupted 11 times during the early 21st century, with it deadliest single event having killed 60 people in 1979.
Persons: Marapi, Abdul Muhari, Rezan Soleh, Adi Prima Organizations: CNN, Getty, Anadolu Locations: Indonesian, Sumatra, AFP, Lima Kaum, West, Datar District, Indonesia
Heavy rain in Indonesia over the weekend triggered flash flooding and sent torrents of cold lava coursing down a volcano and into towns, killing at least 37 people, officials said. Hours of rain on Saturday night carried volcanic rock and ash down Mount Marapi, an active volcano on the island of Sumatra. Those mudslides are known as lahars in Indonesian, which translates to cold lava. Four areas on the western part of Sumatra were badly impacted, according to Indonesia’s disaster management agency. By Sunday night, 37 residents had been killed and another 17 were missing, the agency said.
Persons: Marapi Locations: Indonesia, Sumatra
The growth of US tech earnings is vulnerable to ongoing tensions with China. As Beijing exerts influence in the region, US tech firms will compete for a smaller market share. S&P Global data shows that for US chip firms, China is even more important for business than their home turf. AdvertisementGeopolitical tensionsAbishur Prakash, the founder of advisory firm The Geopolitical Business, told Business Insider that US tech companies ignoring the geopolitical tensions with China are risking serious setbacks to their portfolios. Experts believe that China will gradually contribute less to the revenue of mega-cap US tech firms.
Persons: , Tesla, Apple, Prakash, Elon, Kelvin Wong, walling, Jay Pelosky, Pelosky, Wong Organizations: Service, TPW, American, Nvidia, AMD Locations: China, Beijing, India, Europe, South Korea, Taiwan, Japan, Southeast Asia, Vietnam, Malaysia, Indonesia
Rory and Casey Jones built a villa in Bali for 2.287 billion Indonesian rupiah, or about $143,000. AdvertisementFor Rory Jones and his wife Casey, building a house in Bali seemed like a good idea — even though they had never been to Indonesia. The couple, from Tasmania, Australia, dreamed of retiring early, so they spent a lot of time investing in the stock market. Rory and Casey Jones built a villa in Bali. That said, the couple has plans to build more investment properties in Bali in the future.
Persons: Rory, Casey Jones, , Rory Jones, Casey, Jones, " Jones, videographer, aren't, Propertia Organizations: Service, Global Consulting, Facebook Locations: Bali, Indonesia, Tasmania, Australia, Thailand, Philippines, Portugal, Southeast Asia, Bingin, Uluwatu
A bus carrying students and teachers returning from a graduation celebration crashed in Subang, Indonesia, on Saturday evening, killing at least 11 people, many of them students. The crash occurred around 6:45 p.m. as the vehicle was returning from a hilly resort area in Bandung to Depok, West Java, the authorities said. While the cause of the accident was still under investigation on Sunday, the West Java police said that the bus had sped out of control on a downhill road and crashed into multiple vehicles. An initial investigation revealed that the bus was apparently not fit for the road and had malfunctioning brakes. There were 61 passengers aboard, according to the police, who said that nine people died at the scene and two died later in a hospital.
Organizations: West Java Locations: Subang, Indonesia, Bandung, Depok, West Java
Halved oil palm kernels are seen on the trade floor of a commodities conference and exhibition in Kuala Lumpur. “Orangutan diplomacy will not solve Malaysia’s deforestation crisis,” Heng Kiah Chun, a regional campaign strategist for Greenpeace Southeast Asia, told CNN. By 2012, their numbers had dropped by almost two-thirds, to 104,700 and the decline has continued,” the WWF report said. Therefore it is crucial that all remaining orangutan habitats are conserved,” WWF Malaysia told CNN in a statement. “Orangutan conservation is best achieved by ensuring the protection and conservation of their natural habitats – and that no further forest conversion into palm oil plantations is allowed.”
Persons: , Johari Abdul Ghani, ” Ghani, Tengku Bahar, ” Stuart Pimm, Pimm, Ghani, ” Heng Kiah Chun Organizations: CNN, Getty, Duke University, Malaysia’s Ministry of, Commodities, Chengdu Research Base, Visual China, Malaysian, World Wildlife Fund, WWF, Rimba, Greenpeace Southeast, CNN Conservation, WWF Malaysia Locations: China, Australia, Malaysia, Asia, Indonesia, Kuala Lumpur, Beijing, Malaysian, EU, India, Tengku, AFP, South Carolina, Greenpeace Southeast Asia, WWF Malaysia, Borneo, Brunei,
A Former Guantánamo Prisoner’s New Life
  + stars: | 2024-05-09 | by ( Carol Rosenberg | Natalie Keyssar | ) www.nytimes.com   time to read: +1 min
On the 15th night of Ramadan in a suburb of Belize City, Majid Khan and his family of four sat down for a traditional iftar meal to break the daylight hours fast. There was a leg of a lamb that Majid, a former Guantánamo detainee, had slaughtered himself, sweets brought by a sister in Maryland, dates from Saudi Arabia. The talk was small, about whether the biryani dish was too spicy and how the lamb was perfectly roasted. For two decades, this family meal was not possible. He pleaded guilty and became a government cooperator — and, all that time, his wife waited for him in Pakistan.
Persons: Majid Khan, Majid, Hamza, Rabia, Manaal, Khan, Organizations: Central Locations: Belize City, Maryland, Saudi Arabia, Central American, Al Qaeda, Belize, Indonesia, United States, Guantánamo, Pakistan
His class of 43 students pass around mini hand-held fans during lessons on most days to keep cool. More than 33 million children were impacted as a result of the heatwave, according to groups like Save the Children and UNICEF. The worst hit were poor children in rural areas whose families couldn’t afford devices like laptops and tablets to facilitate remote learning, UNICEF says. “We don’t allow children outside when temperatures get too hot,” said Bong Samreth, who teaches at a public school in Phnom Penh. Loose, lightweight and light colored clothing was also advised for students to protect them from sunburns and heat exposure.
Persons: Seila, , , , Sheldon Yett, ” Yett, Bong Samreth, Ezra Acayan, Benjo Basas, Basas, Mirasol, Hang Chuon Naron, Ferdinand Marcos Jr, Chaideer Mahyuddin, it’s, Joy Reyes Organizations: Hong Kong CNN, CNN, Children, UNICEF, UN, , Volunteers, Getty, Governments Locations: Hong Kong, Cambodia, Phnom Penh, South, Southeast Asia, Bangladesh, Philippines, Tondo, Manila, Pangasinan, Philippine, Banda Aceh, Indonesia, AFP
Apple took on Thursday the unusual step of apologizing for a short advertising video promoting the company's new iPad Pro tablet after the ad was roundly criticized on social media. Apple CEO Tim Cook posted the spot on X, formerly Twitter, on Tuesday. Apple has also decided not to run the ad on TV, Ad Age said. It isn't the first Apple iPad ad in recent years to annoy some customers. In 2018, some people said they were annoyed by an iPad Pro spot in which a child asks, "What's a computer?"
Persons: Tim Cook, Joko Widodo, Apple, Tor Myhren Organizations: Apple, YouTube, \ Media, Lab Locations: Jakarta, Indonesia
His wife, a teacher, had been to China before and realized she could get a visa to teach at an international school there and bring Scott along. The school that hired her also hired Scott, and the two put their lives in the US on hold and relocated to China. His wife got a job as a teacher at an international school, and the two moved to China on her visa. Related storiesBefore moving to China, the couple paid $1,900 a month in rent in Arizona. He said their internet bill was $130 a month, their cellphone bill was $70, and their electricity bill was $100.
Persons: Scott Vleeschouwer, weren't, Scott, Vleeschouwer, it's, they've, China Vleeschouwer, DiDi —, He's, they're Organizations: Service, China's, Business Locations: China, Shenzhen, Maryland, Roanoke , Virginia, San Antonio, Phoenix, Mexico, Beijing, Shanghai, India, Hong Kong, Philippines, Indonesia, Kenya, Southeast Asia, Arizona, They've
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUOB names potential 'pockets of growth' in the Southeast Asian marketWai Fai, CFO at UOB, says it's optimistic about "semiconductors in Malaysia, commodities in Indonesia, [electric vehicles] in Thailand and manufacturing in Vietnam."
Persons: Fai Organizations: UOB Locations: Malaysia, Indonesia, Thailand, Vietnam
Here are six luxury brands that have opened restaurants around the world. Gotham/GC Images/Getty ImagesCoachIn March, Coach opened its first-ever restaurant, called The Coach Restaurant, in Jakarta, Indonesia. The brand opened a second location in Tokyo in 2021, in its seven-story flagship in Ginza. Dior also has the Mediterranean restaurant Dior des Lices in Saint Tropez. At its Paris flagship, the French luxury fashion house has La Pâtisserie Dior and the restaurant Monsieur Dior.
Persons: , Ralph Lauren, Ralph Lauren's, Z, Osmud Rahman, Rahman, what's, Jessica Chastain, Louis Vuitton, Café, Ginza . Louis Vuitton, Arnaud Donckele, Maxime Frédéric, Dior Dior, Dior, Monsieur Dior, Anne, Sophie Pic, Dominique Maître, Gucci Gucci, Gucci Osteria, Massimo Bottura, Tiffany, Daniel Boulud Organizations: Service, Business, Toronto Metropolitan University's School of Fashion, Canadian, Globe, Michigan, Polo, Polo Bar, New, New York, Ginza . Louis, Louis, Dior, Kansai International Airport, Dior des Lices, Paris, Michelin, Penske Media, Getty, Tiffany, Co, South, Harrods Locations: Chicago, millennials, New York City, York, Miami , Virginia, New York, Milan, Paris, Chengdu, China, Midtown, Jakarta, Indonesia, Jakarta's Grand, Osaka, Japan, Tokyo, Ginza ., Saint Tropez, Bangkok, Thailand, Europe, US, Asia, Seoul, Miami, Florence, Italy, Italian, Beverly Hills, The Florence, Tiffany, South Coast, Costa Mesa , California, London
The FAA said on Monday that it's probing Boeing amid reports of employees not completing 787 checks. AdvertisementThe Federal Aviation Administration is investigating whether Boeing employees may have falsified plane safety records for the 787 Dreamliner, adding to the manufacturer's woes as it faces regulatory scrutiny. "The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records," the statement said. Several former Boeing employees who became company whistleblowers have raised concerns about 787 Dreamliner production, alleging that the manufacturer was prioritizing profit over quality. AdvertisementAnother ex-employee, John Barnett, slammed 787 production for years and said he observed issues with oxygen mask deployment in the jets, which he felt weren't properly addressed.
Persons: , Scott Stocker, " Stocker, Stocker, Max, Dave Calhoun, Sam Salehpour, John Barnett, weren't, Barnett, Joshua Dean, Spirit AeroSystems Organizations: FAA, Boeing, Service, Aviation Administration, Business, American Airlines, Spirit Locations: Charleston, South Carolina, Indonesia, Ethiopia
China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.
Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America
CNN —In travel news this week: submersible superyachts for billionaires, the megahub airport that could be the world’s busiest, plus new digital nomad visas in Turkey and Italy. New digital nomad visasPacking up your life and making a fresh start abroad is a dream for many, and new visa programs and tax incentives are making it a bit more achievable. Portugal, Spain and Costa Rica are some of the countries with popular digital nomad visas, and now there are two new options for remote workers. Turkey’s vibrant cities and glorious coastline can be enjoyed with its new digital nomad visa which is open to citizens of 36 countries, including the United States, Canada, France and the United Kingdom, ages 21 to 55. Italy’s long-anticipated digital nomad visa is also now accepting applications.
Persons: you’re, Hopper, he’d, “ It’s, , Latronico, there’d Organizations: CNN, European Union, European Economic, KSL, Mount Fuji Locations: Turkey, Italy, Portugal, Spain, Costa Rica, United States, Canada, France, United Kingdom, Italian, Italy London, Texas, Costa, Los Angeles, Basilicata, Austrian, Utah, Indonesia, Caicos, Mull, Kintyre, Miami
Great Barrier Reef, Australia CNN —As the early-morning sun rises over the Great Barrier Reef, its light pierces the turquoise waters of a shallow lagoon, bringing more than a dozen turtles to life. CNN witnessed bleaching on the Great Barrier Reef in mid-February, on five different reefs spanning the northern and southern parts of the 2,300-kilometer (1,400-mile) ecosystem. “It’s a die-off,” said Professor Ove Hoegh-Guldberg, a climate scientist at the University of Queensland in Australia and chief scientist at The Great Barrier Reef Foundation. Our destination is Lady Elliot Island, a remote coral cay perched on top of the southern end of the Great Barrier Reef. — Lady Elliot Island Eco Resort Guano miners once stripped Lady Elliot Island of its topsoil.
Persons: Elliot Island, , Kate Quigley, “ We’re, Ove Hoegh, I’m, Guldberg, , Elliot, Peter Gash, , ” Gash, Lady Elliot, ” Peter Gash, CNN Gash, Derek Manzello, Peter Harrison, “ We’ve, ” Harrison, ” David Ritter, ” Ritter, David Wachenfeld Organizations: Australia CNN —, Atmospheric Administration, NOAA, CNN, Minderoo, University of Queensland, Eco, Reef Watch, Southern Cross University, Australian Institute of Marine Science, Greenpeace, Australia CNN Scientists, AIMS Locations: Australia, El, Brisbane, Queensland, Red Sea, Indonesia, Seychelles, Caribbean, Florida, , New South Wales, Greenpeace Australia, Briggs, Elliot Island
In one lunar region, Japan’s “Moon Sniper” mission has beaten the odds and survived three long, frigid lunar nights since its sideways landing on January 19. The Tianwen-2 mission will visit the space rock later this decade. But first, China has set its sights on returning to the moon’s “hidden side.”An illustration depicts the far side of the moon, with Earth behind it. Since the Chang’e 4 mission in 2019, China remains the only country to have landed on the moon’s far side, sometimes called the “dark side” of the moon. Scientists hope that returning samples from the far side could solve some of the biggest remaining lunar mysteries, including the moon’s true origin.
Persons: Graziano Ranocchia, Ranocchia, Plato, Emma Pomeroy, “ She’s, , Pomeroy, Armas Rakus, Suni Williams, Butch Wilmore, Kevin Bacon, Ashley Strickland, Katie Hunt Organizations: CNN, Engineers, Japan Aerospace Exploration Agency, NASA, Apollo, Platonic Academy of Athens, University of Pisa, Netflix, University of Cambridge, Norton Disney, Archaeology Group, Roman, International Space, CNN Space, Science Locations: China, Kurdistan, Gunung Leuser, South Aceh, Indonesia, Morocco
Reuters —The Indonesian government will permanently relocate almost 10,000 residents after a series of explosive eruptions of the Ruang volcano has raised concerns about the dangers of residing on the island in future, a minister said on Friday. “As instructed by President Joko Widodo, we will build houses that meet disaster-standards,” he said, adding that the site was located about 200 km (125 miles) from Ruang island. A view of Mount Ruang volcano on Wednesday, the day after it erupted three times, forcing authorities to issue evacuation orders for 12,000 locals. The volcano had not erupted on Friday but Manado’s Sam Ratulangi Airport remained closed until the evening due to the spread of volcanic ash. Indonesia straddles the so-called “Pacific Ring of Fire,” an area of high seismic activity where multiple tectonic plates meet.
Persons: Muhadjir Effendy, , Joko Widodo, , Ronny Adolof, Ruang, Sam Ratulangi Organizations: Reuters, Human Development, Getty Locations: Indonesian, North Sulawesi, Manado, Ruang, AFP, Manado . Roads, Tagulandang, Indonesia
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