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UBS says to complete Credit Suisse takeover on 12 June
Swiss banking giant UBS is set to finalize its acquisition of troubled domestic rival Credit Suisse by 12 June, according to both banks. The completion date is slightly later than previously anticipated. UBS agreed to purchase Credit Suisse for three billion Swiss francs (US$3.25 billion) under government pressure to prevent its collapse. Upon completion, Credit Suisse shares and American Depositary Shares will be delisted, creating a superbank overseeing US$5 trillion of invested assets, according to UBS CEO Sergio Ermotti.
US, China join naval drills in Indonesia despite rifts
The United States and China have both deployed warships to participate in multinational naval drills in Indonesia, despite their ongoing tensions. The exercises aim to foster cooperation among like-minded nations and address common challenges such as humanitarian and disaster response. The presence of warships from the US and China highlights their fierce competition in various domains, including diplomacy, military, technology, and economy. The drills come amid escalating disagreements between the two powers over issues such as Taiwan and Pacific island nations. Efforts to renew dialogue and avoid misunderstandings leading to conflict have been emphasized by US Secretary of Defense Lloyd Austin.
Damanhuri Bin Abas departs from Muhammadiyah Islamic College amid speculations of political influences
Former Singapore Democratic Party candidate, Damanhuri Bin Abas, abruptly exited his Director position at Muhammadiyah Islamic College (MIC) two months post his rejoining, following retirement from active politics. In his Facebook posts, Damanhur lauds his colleagues, maintaining political roles alongside professional positions, without conflict. His own recent MIC departure, amid speculations of political interference, ironically raises questions about the practice of political neutrality in Singapore's professional landscape.
Red Dot United calls for greater transparency and accountability over ministers’ residency controversy
Red Dot United (RDU) has called for transparency over the controversy surrounding the rental and residency of two People's Action Party ministers in Ridout Road. It expressed concerns over the lack of accountability, potential conflicts of interest, and the disparity between the ministers' lifestyles and everyday Singaporeans amidst challenging economic times.
Fossil fuelled: Climate talks begin with spotlight on oil chief
The upcoming UN climate negotiations will scrutinize the future of fossil fuels, with an Emirati oil chief, Sultan al-Jaber, at the forefront. As pressure mounts for ambitious plans to combat climate change, al-Jaber's appointment as head of COP28 has faced criticism from campaigners urging him to step aside. While al-Jaber advocates for renewable energy development, he also emphasizes carbon capture technologies and the role of fossil fuels in the energy transition. The discussions aim to address the urgency of transitioning away from fossil fuels while assessing progress in reducing carbon emissions.
Crazy rich politicians in Singapore — Is the PAP being jinxed by “the big...
Is the current 4G PAP-led government being jinxed by some very bad karma, asks Joseph Nathan.
Hong Kong police detain more than 20 on Tiananmen anniversary
Hong Kong police detained over 20 people, including pro-democracy activists, for attempting to commemorate the Tiananmen Square crackdown. Beijing's national security law imposed in 2020 banned the annual vigil, leading to charges against organizers. Meanwhile, in Taiwan, hundreds gathered at Taipei's Liberty Square to mourn and chant slogans in support of Hong Kong. In Hong Kong, police searched and detained individuals found with candles, a symbol of the banned vigil. Despite the crackdown, defiant acts, such as candle giveaways and displays of archival material, persisted. Worldwide, candlelit vigils were held, and protesters reenacted the crackdown in London.