Organized frauds are a escalating concern for Southeast Asia, UN states


Pia Oberoi, senior advisor on migration and human legal rights at the United Nations Human Legal rights Workplace, claims transnational criminal offense groups are tricking people into functioning in casinos that have been repurposed into scamming compounds in Southeast Asia.



Australian telco Optus CEO resigns days immediately after network-large outage

CHINA – 2022/07/25: In this photograph illustration, the next biggest telecommunications business in Australia, Optus logo is exhibited on a smartphone display. (Photograph Illustration by Budrul Chukrut/SOPA Images/LightRocket through Getty Visuals)

Sopa Pictures | Lightrocket | Getty Visuals

Australia’s 2nd-largest telco Optus’ Chief Government Officer Kelly Bayer Rosmarin has resigned, its parent Singapore Telecommunications said on Monday, days right after a network-large outage left virtually half the state with no cellphone or online for 12 hours.

Optus has appointed Main Money Officer Michael Venter as interim CEO. Peter Kaliaropoulos was appointed to a newly established placement of chief working officer, SingTel added.

A lot more than 10 million Australians have been strike by the 12-hour network blackout at the nation’s second-biggest telco for much of Wednesday, triggering fury and frustration among buyers and boosting broader considerations about the telecommunications infrastructure.

“We acknowledge the have to have for Optus to regain customer rely on and self confidence as the staff operates by means of the effects and outcomes of the modern outage and continues to strengthen,” SingTel Team CEO Yuen Kuan Moon said in a assertion.



Philippines woos neighbours to craft code on South China Sea

Chinese Coastline Guard vessel (L) blocks the ML Kalayaan chartered supply boat (R) through a mission to deliver provisions at 2nd Thomas Shoal in the South China Sea on November 10, 2023. (Photo by JAM STA ROSA / AFP) (Photo by JAM STA ROSA/AFP by using Getty Photos)

Jam Sta Rosa | Afp | Getty Photos

The Philippines has approached neighbors such as Malaysia and Vietnam to talk about a individual code of conduct concerning the South China Sea, its president mentioned on Monday, citing minimal development towards placing a broader regional pact with China.

Relations involving the two have developed a lot more tense beneath President Ferdinand Marcos Jr, who has progressively complained about China’s “aggressive” behavior whilst rekindling potent ties with the Philippines’ sole treaty ally, the United States.

Talking in Hawaii at a livestreamed celebration, Marcos mentioned escalating pressure in the South China Sea expected the Philippines to lover with allies and neighbors to manage peace in the occupied waterway, with the condition now “additional dire”.

“We are however waiting for the code of conduct among China and ASEAN and the development has been instead slow regretably,” Marcos reported, referring to attempts by the grouping of Southeast Asian nations.

“We have taken the initiative to method people other countries all-around ASEAN with whom we have existing territorial conflicts, Vietnam becoming a person of them, Malaysia being one more and to make our possess code of conduct.

“Hopefully this will mature even more and prolong to other ASEAN international locations.”

The embassies of China, Malaysia and Vietnam in Manila did not quickly answer to a ask for for comment on a feasible code.

The remarks by Marcos adopted his meeting on Friday with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation discussion board in San Francisco.

The leaders talked about techniques to reduce pressure in the disputed strategic waters soon after a collection of confrontations this year.

In the earlier few yrs, ASEAN and China have worked toward developing a framework to negotiate a code of carry out, a plan dating as far again as 2002. But development has been sluggish irrespective of commitments by all get-togethers to progress and pace the procedure.


Talks on components of the code have nevertheless to start off, with concerns about how significantly China, which promises possession of most of the South China Sea, is fully commited to a binding established of rules that ASEAN nations want to align with present international law.

China stakes its declare on its maps with the use of a “9-dash line” that loops as considerably as 1,500 km (900 miles) south of its mainland, chopping into the distinctive economic zones (EEZ) of Brunei, Indonesia, Malaysia, the Philippines and Vietnam.

Manila and Beijing have engaged in on-off confrontations for a long time as China has come to be more assertive in pressing its maritime promises, alarming neighbors and other nations working in the key trade route, this kind of as the United States.

China has turned submerged reefs into armed forces installations outfitted with radar, runways and missile techniques, some inside the Philippines’ EEZ.

“The closest reefs that the PLA has started out to present curiosity in … for creating bases have come nearer and closer to the Philippine shoreline,” claimed Marcos, referring to the People’s Liberation Army Navy of China.

“The situation has turn out to be more dire than it was ahead of.”

By contrast, Marcos included, the United States “has normally been powering us … not only in conditions of rhetoric, but also in phrases of concrete guidance”.



Cruise CEO Kyle Vogt resigns from GM-owned robotaxi device

Cruise founder and CEO Kyle Vogt has resigned from his purpose at the autonomous motor vehicle enterprise owned by General Motors, according to a corporation statement sent to CNBC on Sunday.

Jordan Vonderhaar | Bloomberg | Getty Photographs

Cruise CEO and co-founder Kyle Vogt has resigned from his position at the autonomous car or truck undertaking owned by Normal Motors, according to a organization statement sent to CNBC on Sunday.

Mo Elshenawy, who formerly served as Executive Vice President of Engineering at Cruise, will now provide as President and CTO for Cruise, the organization said.

The resignation follows a string of missteps by Cruise. As CNBC earlier noted, the organization lately issued a remember affecting 950 of its robotaxis following a pedestrian collision in San Francisco very last thirty day period.

Cruise experienced lost its permits to operate driverless motor vehicles in California without the need of a human security driver on board as a end result of that pedestrian collision.

According to its most the latest quarterly update, GM has misplaced about $1.9 billion on Cruise in between January and September, including $732 million in the 3rd quarter alone.

This is a acquiring tale. Remember to examine back again for updates



Inventory futures open tiny transformed to get started the shortened Thanksgiving holiday week

Traders perform on the flooring at the New York Inventory Trade (NYSE) in New York Metropolis, U.S., November 16, 2023. 

Brendan Mcdermid | Reuters

U.S. equity futures opened very little adjusted on Sunday evening, heading into the shortened Thanksgiving getaway week with all of the main averages coming off of their 3rd straight successful efficiency.

Futures tied to the Dow Jones Industrial Average fell 2 details, or considerably less than .1%. S&P 500 futures ended up down by about 3 points, or approximately .1%, and Nasdaq 100 futures have been decreased by 34 points, or .2%.

The S&P 500 closed past 7 days better by 2.2% and the Dow additional 1.9%, marking the very first 3-7 days streak for the indexes because July. The Nasdaq Composite completed the 7 days higher by 2.4%, notching its best week since June.

The produce on the benchmark U.S. 10-yr Treasury experienced also finished Friday at its lowest amount considering the fact that Sept. 20, top some traders to hope that Treasury yields will carry on to contend with equities and turn out to be much more attractive to traders.

Industry bulls continue being enthusiastic into the year-close, on the other hand, specifically soon after cooler-than-anticipated U.S. inflation facts produced past week calmed investors’ nerves about stubbornly superior selling prices and offered a hopeful indication that the Federal Reserve could quit boosting curiosity prices.

“I basically feel it truly is very probable we could see document highs right before the stop of the yr,” Bill Baruch, founder at Blue Line Futures, explained to CNBC’s “Halftime Report” on Friday. “This is 1 of the most nutritious consolidations in excess of the very last couple of times.” 

Ahead of the Thanksgiving Day-shortened 7 days, traders are awaiting Nvidia’s earnings and ahead steering out Tuesday. The chipmaker, which has due to the fact its inventory value skyrocket this calendar year amid the trend about artificial intelligence, is envisioned to beat on earnings and income estimates for the third quarter, in accordance to analysts polled by FactSet. Fears still exist about the firm’s valuation, having said that.

Buyers and techies are also rattled by Friday’s unexpected ouster of OpenAI’s former CEO Sam Altman and the resignations of other leading executives and team customers at the Microsoft-backed corporation, igniting broader considerations about the long run of the AI field.

Investing all around the Thanksgiving holiday getaway has been choppy in current yrs, but November is continue to the greatest-doing thirty day period for the S&P 500, in accordance to the Stock Traders’ Almanac.



Ahead of Indonesia’s elections, critics slam Jokowi for nepotism and ‘dynastic politics’

Indonesian President Joko Widodo waving to the group while on his journey to Presidential Palace by carriage for the duration of the ceremonial parade on October 20, 2014 in Jakarta, Indonesia when he was sworn in.

Ulet Ifansasti | Getty Pictures News | Getty Visuals

A yr prior to stepping down as Indonesia’s president, Joko Widodo is struggling with really serious allegations of setting up a political dynasty via nepotism.

The 61-year-aged, known at dwelling as Jokowi, is owing to leave office in Oct 2024 after completing the most two terms as president.

But critics and analysts say the leader, who has relished consistently substantial acceptance scores during his near 10 years-prolonged tenure, is attempting to keep ability via customers of his shut household.

1. Eldest son, Gibran Rakabuming Raka

Previous thirty day period, his eldest son, Gibran Rakabuming Raka, 36, was officially named the vice presidential running mate of Defence Minister Prabowo Subianto for the Feb. 14 typical election race less than the right-wing Gerindra Social gathering.

That came just days ahead of the place changed the eligibility standards for presidential or vice-presidential candidates, permitting people today underneath the age of 40 to sign up for both position if they earlier held regional posts. Gibran is the mayor of Solo.

The constitutional court docket, which was helmed by the president’s brother-in-law Anwar Usman at that time,  was extensively criticized for modifying the law, which enabled Jokowi’s son to contest the election. The court’s ethics council has due to the fact purchased Anwar to be eradicated from his write-up as main justice following acquiring him guilty of ethics violations.

Most respondents see this sort of politics as tending to prioritize spouse and children interests over the interests of culture.

Kompas Investigation and Progress

According to a poll in mid-October by Kompas Study and Development, 60.7% of respondents look at the participation of Jokowi’s eldest son Gibran in the election as a variety of dynastic politics.

“Most respondents see this kind of politics as tending to prioritize family interests above the passions of society,” Kompas reported in a report. “It is no marvel then that a lot more than half of respondents in this poll stated their disagreement with the observe of dynastic politics.”

2. Youngest son, Kaesang Pangarep

Independently, Jokowi’s youngest son, Kaesang Pangarep, was appointed chairman of the Indonesia Solidarity Occasion (PSI) in September, a handful of days just after he officially turned a social gathering member.

PSI, which introduced in 2018, focuses on young voters through issues like women’s legal rights, pluralism and corruption. It hopes to protected seats in the Home of Associates for the initially time in the upcoming election.

3. Son-in-legislation, Bobby Nasution

Introducing to Jokowi’s political chessboard is also his son-in-law Bobby Nasution, the present mayor of Medan.

Jokowi is “seeking to retain political influence through his sons and son-in-law, Medan mayor Bobby Nasution,” explained Julia Lau, senior fellow and co-coordinator of the Indonesia Reports Programme at Singapore’s ISEAS–Yusof Ishak Institute.

Again household, Jokowi’s loyalists are reportedly outraged, Reuters noted, saying that cupboard ministers in just his interior circle have accused him of searching for to hand on to power via judicial interference and nepotism.

A political dynasty?

These are “nepotistic techniques,” reported Vedi Hadiz, director and professor at the Asia Institute at the University of Melbourne.

Jokowi’s sons are “element of the broader plan” to sort a political dynasty just before he leaves place of work, he continued.

“Kaesang Pangarep’s ascent into the leadership of the PSI is geared to aid realize the intention of getting victory for the Prabowo-Gibran pairing, as the PSI has moved, also controversially, into the Prabowo orbit currently.”

Lau echoed the exact same sentiments.

“Kaesang, 28, is a political neophyte and jogging on his father’s coattails,” she extra, noting how the PSI has now turn out to be “a auto to channel the Widodo clan’s aspirations.”

CNBC attained out to Indonesia’s presidential palace for comment but did not hear back.

These developments really don’t bode effectively for the country’s already fragile state of democracy, which only emerged 25 several years ago after decades of authoritarian rule.

What is certain is that Widodo is taking part in a dangerous game in the past phase of his presidency.

Julia Lau

ISEAS–Yusof Ishak Institute

It also weighs heavily on Jokowi’s popularity. The previous furnishings salesman captured national hearts when he turned the country’s first leader who didn’t occur from a political or military history, raising hopes of a pushback from elitist-led programs.

But as his sons climb up the political ladder, critics are now drawing comparisons with existing political dynasties all over Southeast Asia.

“A lot of liberals and intellectuals in Indonesia are now contacting for a deeper appear into the corruption and weakening of a number of democratic institutions in the state, their constitutional courtroom, the anti-corruption commission, etcetera, that has transpired on Widodo’s check out,” mentioned Lau from ISEAS–Yusof Ishak Institute.

Next unsuccessful attempts by his group to prolong Jokowi’s tenure, she mentioned, “this newest series of moves seems to be their way of seeking to claw a everlasting hold for them selves but may possibly well backfire.”

“What is confident is that Widodo is participating in a dangerous sport in the very last stage of his presidency,” Lau included.

The ‘Jokowi effect’

Analysts are now anticipating what they phone “a Jokowi influence” for the PSI and Gerindra get-togethers.

Picking Gibran, Jokowi’s eldest son, “is a obvious sign by Prabowo’s camp to affiliate its presidential bid with the successes of Jokowi-period programmes and insurance policies,” global study organization Asia Residence explained in a report.

“The nomination of Gibran as his vice-presidential applicant is most likely to gain Prabowo votes from Central Java — exactly where Jokowi’s family members is initially from — and shift the aid of Jokowi’s supporters from Ganjar and PDIP to the Prabowo camp.” 

The PDIP, or Indonesian Democratic Celebration of Struggle, is the country’s ruling party.

The PSI is also seeking to capitalize on the attractiveness of Jokowi, who has unusually superior acceptance rankings for a two-time period president.

“The idea is that the popularity would rub off on Kaesang Pangarep and increase the electoral general performance of the PSI,” explained Hadiz from the University of Melbourne.

“If that is achieved convincingly, the Jokowi spouse and children can effectively consider total regulate of a political get together. It in no way experienced these types of control ahead of specified the Soekarno family’s grip on the PDIP,” she mentioned, referring to referring to Indonesia’s initial president.

In the meantime, the PDIP is significantly distancing itself from Jokowi. His connection with PDIP chair Megawati Sukarnoputri is now underneath force adhering to his sons’ pivot to other parties. 

“Even though some interpret Gibran’s candidacy as evidence of Jokowi’s involvement in dynastic politics, it’s also perceived as a snub to PDIP, the social gathering that both supported Jokowi’s presidential bids and backed Gibran when he ran for mayor,” Asia Dwelling mentioned.



Asia marketplaces rebound from Friday, in advance of China benchmark lending rate release

Investors enjoy computer system screens exhibiting inventory selling price figures at a stock exchange corridor.

Jiang Sheng | Visual China Group | Getty Photographs

Asia-Pacific marketplaces started out the week bigger right after most main bourses finished decrease in the earlier session, though traders viewed for changes to China’s benchmark lending prices.

The People’s Financial institution of China’s one particular-yr personal loan key level — the peg for most home and corporate financial loans in China — is at the moment at 3.45%. The 5-calendar year benchmark personal loan level — the peg for most home loans — stands at 4.2%,

Hong Kong shares led declines in Asia-Pacific on Friday, as shares of Alibaba plunged immediately after the Chinese e-commerce big mentioned it would not commence with the entire spinoff of its cloud team.

Futures for Hong Kong’s Hold Seng index stood at 17,728, pointing to a higher open up in contrast to the HSI’s close of 17,454.19.

Japan’s marketplaces extended Friday’s gains, with the Nikkei 225 up by .12% and the Topix climbing .15%. The region will be watching for its Oct inflation figures on Friday.

South Korea’s Kospi rose .13%, whilst the little-cap Kosdaq observed a bigger attain of .35%.

In Australia, the S&P/ASX 200 edged .18% higher.

On Friday, the S&P 500 ended higher and clinched a 3rd straight profitable 7 days amid a pink-warm November rally.

The broader index additional .13%. The Dow Jones Industrial Common ended the day increased by .01%, when the Nasdaq Composite crept up by .08%.

The primary U.S. indexes clocked their 3rd straight constructive 7 days. The S&P 500 extra 2.2%, although the Nasdaq jumped about 2.4%. The Dow closed the 7 days with a 1.9% progress. This is the first a few-week acquire streak for the Dow and S&P 500 due to the fact July, and the very first since June for the Nasdaq.

— CNBC’s Lisa Kailai Han and Brian Evans contributed to this report