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Indonesia’s Danantara must ‘outlast’ presidencies to prove worth: investment chief

Addressing the Nusa Dua Forum, Pandu Sjahrir said the fund should build investor confidence through ‘quick wins’ and stock market reforms Pandu Sjahrir said the fund was focused on the demutualisation of Jakarta’s stock market and to support the establishment of the first financial centre in Bali to boost investor confidence. “So, for me personally, Danantara has to outlast presidencies, and for this to happen, we have to be very, very successful,” he said. Success was the best insurance in guaranteeing continuity from one political administration to another and the core leadership of Danantara had to be disciplined in its focus to deliver high and sustainable returns on its mandate. “For us, our focus is strictly on profit,” Pandu said at a panel discussion with Tengku Zafrul Aziz, chairman of Malaysian Investment Development Authority.

July 19, 2026

Business

Japan scapegoats foreigners as mountain rescue numbers rise

Locals make up the vast majority of Japan’s mountain rescues, yet internet anger is largely reserved for ill-equipped tourists On a clear summer morning at Mount Fuji’s fifth-station trailhead, the crowds look more beach ready than alpine prepared with canvas slip-ons, bare legs and lightweight jackets. For Tatsuo Nanai, a veteran climber and until recently secretary general of the Fuji‑san Club, the scene has become a source of dread. Japan’s official climbing season has only just begun, but he says he is already “very worried” about the number of people who will need rescuing – and the lives that will be lost – before the trails close again in mid-September. “Too many people underestimate Mount Fuji,” Nanai told This Week in Asia. “For anyone who takes it lightly, it can be very dangerous.” Last year, Japan recorded a new high in mountain emergencies, with 3,623 people having to be rescued and 332 deaths, according to National Police Agency data.

July 19, 2026

Business

Influencers Andrew and Tristan Tate arrested in Miami as UK seeks extradition

The brothers, who were arrested in Romania in 2022, face rape and human trafficking charges Influencer brothers Andrew and Tristan Tate, whose social media empire promoting wealth, male dominance and misogyny has made them among the world’s most polarising internet personalities, were arrested on Saturday in Miami as British authorities sought their extradition on rape and sex trafficking charges. British prosecutors announced on Saturday that they were seeking the brothers’ extradition on charges alleging they raped and trafficked women between 2010 and 2017. The brothers are expected to appear in Miami’s federal court early next week, according to a person familiar with the matter who spoke on the condition of anonymity to discuss sensitive law enforcement operations. The pending charges in the United Kingdom accused the brothers of abusing women in an area north of London, where they grew up. Their lawyers had said they denied the allegations.

July 18, 2026

Business

Cuban dissident artist Otero Alcantara lands in US exile

One of the most prominent figures in Cuba’s new dissident movement, Otero Alcantara had just completed a five-year sentence on the island Prominent Cuban dissident artist Luis Manuel Otero Alcantara flew to exile on Saturday in the United States after serving a five-year sentence on the island, as Washington urged Havana to release more than 700 political prisoners. Otero Alcantara, designated a prisoner of conscience by Amnesty International, was sentenced to five years in prison in 2022 for insulting national symbols, contempt and disturbing the public order. He landed in Miami, the capital of the Cuban diaspora, after a short flight from Havana, according to a video of Otero Alcantara at the airport that was shared with Agence France-Presse by his friend, activist Anamely Ramos. Otero Alcantara, a self-taught performance artist, sculptor and painter, rose to prominence in 2020 as leader of the San Isidro protest movement of artists and intellectuals. He was detained in July 2021 while leaving his home in Havana to join unprecedented mass protests. “After five years of unjust imprisonment, Cuban artist Luis Manuel Otero Alcantara has finally been freed,” read a post on his social media account managed by his friends.

July 18, 2026

Business

Did the Ukraine war spark China’s quiet ban on most civilian drone flights in cities?

For years, aerial drones frequently buzzed above the Huangpu River in Shanghai, capturing breathtaking views of one of China’s most iconic central business districts and the lights of thousands of homes. But the spectacular aerial photos that once defined one of the world’s largest commercial drone markets have now been heavily restricted along this picturesque stretch of the river, reflecting a nationwide tightening of rules on civilian drone use. Security concerns magnified by Ukraine’s drone...

July 18, 2026

Business

As the UK discusses an EU return, Hong Kong offers lessons

Like Hong Kong, which functions as a special administrative region of China, could the United Kingdom rejoin the European Union with a special administrative name? It may seem a far-fetched idea but what if the UK were to become a special sovereignty within the EU? And in that case, what can post-Brexit Britain learn from Hong Kong, which has been designated a special administrative region within China? Similarly, the UK is often referred to as “Britain” even though geographically and technically “Britain” refers only to the island of Great Britain, which comprises England, Wales and Scotland – but not Northern Ireland, which is part of the UK. Theoretically, could the UK re-enter the EU as a distinct member with a special administrative name? Could a “Europe’s UK” concept be explored? Political decision-making can be intimately affected by geography, as illustrated in Tim Marshall’s bestselling book, Prisoners of Geography, first published in 2015. For the UK, one of a clutch of island nations that are part of the European continent, rejoining the EU may well be a question of “to be or not to be”.

July 18, 2026

Business

Leon Black told Epstein panel he paid US$21 million to woman to keep affair secret

The billionaire investor called it extortion and blackmail, and said the woman had originally demanded US$100 million Former Apollo Global Management Chief Executive Officer Leon Black told Congress he paid US$21 million to a woman he accused of blackmailing and extorting him. The billionaire investor said during a June 26 interview with the US House Oversight Committee that he paid the money to the woman, with whom he had had an affair, after she demanded US$100 million because he “ruined her life”. Black’s appearance at the voluntary interview was part of the congressional investigation into the late convicted sex offender Jeffrey Epstein. A transcript of the interview was released on Friday. Black said he had discussed the financial arrangement with Epstein, who oversaw some of his estate planning. The private equity tycoon, who agreed to pay the woman in instalments over 15 years, acknowledged in the interview that it was a large sum in exchange for signing a nondisclosure agreement over the affair. “I had a wife and children and was the chair of a public company,” he said. “I agree with you it was a lot of money. It was a lot less than the US$100 million that she started with.

July 18, 2026

Business

2 US troops dead, 1 missing after Iran attacks base in Jordan

These are the first American service members killed due to direct Iranian fire since the opening days of the war In Iran war news with major US political implications, two US soldiers were killed and several wounded by an Iranian drone, the Pentagon announced on Saturday. The tragedy, the first US combat deaths in months, came as US President Donald Trump has tried to downplay or distract attention from the hugely unpopular war that he started in late February, as his polling numbers tank four months in advance of a hugely consequential midterm election. “Two US service members in Jordan were killed in action as US Central Command (CENTCOM) and partner forces defended against Iranian ballistic missile and drone attacks,” CENTCOM posted to social media. “Additionally, one service member is currently missing in action.” The US military a few hours later said it launched a new wave of air strikes against Iran to “swiftly punish” Iran’s Revolutionary Guard and “further degrade Iran’s ability to threaten commercial shipping in the Strait of Hormuz”. Four other service members were medically evacuated to Jordanian hospitals and discharged after the Friday attack, it added, without identifying those who died.

July 18, 2026

Business

Israeli rule change clears way for using crocodiles to deter prison breaks

Far-right minister Ben Gvir has reportedly proposed a facility for Palestinian detainees similar to Trump’s ‘Alligator Alcatraz’ Israeli Environmental Protection Minister Idit Silman has reclassified crocodiles from wild animals to “captive-bred wildlife”, a move that clears the way for the reptiles to be used for security purposes, including to deter prison escapes. Far-right National Security Minister Itamar Ben Gvir – who reportedly proposed in December surrounding a prison for Palestinian detainees with crocodiles, a la Florida’s “Alligator Alcatraz” immigration detention facility – welcomed the decision. “Are you thinking of attempting to escape? Think again,” Ben Gvir wrote in a social media post on Thursday, alongside an AI-generated image of himself with a crocodile on a leash. The caption read: “Ministers Ben Gvir and Silman are cooperating and encircling prisons with crocodiles!” Israel’s Channel 13 reported that the Israel Nature and Parks Authority had opposed Ben Gvir’s proposal when he first floated the idea last year. The reclassification transfers oversight of the animals from the authority to a “security body”. The Israel Prison Service, which Ben Gvir runs, is one such body.

July 18, 2026

Business

Thailand-China Investment Forum strengthens economic partnership

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. The Thailand-China (Sichuan) Investment and Economic Forum was held in Sichuan, southwest China, on July 18, bringing together government officials and business leaders from both countries. The event highlighted expanding cooperation in investment, artificial intelligence and technology. It featured the inauguration of the Thailand Board of Investment's Chengdu Office, marking a new milestone in China-Thailand economic cooperation.

July 18, 2026

Business

Tai Po fire inquiry panel to delay submitting final report to late October: source

‘We need more time to organise the evidence. There are many documents to review, much new material,’ source tells SCMP An independent committee examining the causes of Hong Kong’s deadly Wang Fuk Court blaze will delay submitting its final report to late October, a month later than expected, citing the need for more time to review documents, the South China Morning Post has learned. A source confirmed to the SCMP on Saturday that the judge-led panel’s final report was likely to be submitted to Chief Executive John Lee Ka-chiu in late October, rather than September as the committee’s nine-month investigation deadline had suggested. “We need more time to organise the evidence. There are many documents to review, much new material,” the source said. Set up in December last year, weeks after the inferno at Tai Po’s Wang Fuk Court had killed 168 people and displaced nearly 5,000, the independent committee was tasked with examining the fire’s cause, existing regulations, whether there were systemic problems concerning large-scale building renovation works in the city, and making suggestions on these areas.

July 18, 2026

Business

Why data may become China’s most durable advantage in the AI race

Accelerating buildout of national ecosystem of Chinese-language data has emerged as a ‘more winnable’ arena amid US tech restrictions Beijing has identified that layer as a new strategic frontier, accelerating the buildout of a national ecosystem of Chinese-language data for artificial intelligence (AI). The push covers everything from foundational text corpora and high-quality training datasets to technical standards and governance frameworks. The efforts have also become increasingly visible in recent months.

July 18, 2026