How regionalism is shaping South Korea's presidential election
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CNA speaks to Bangladesh's interim leader Muhammad Yunus on reform in the country
Scroll up for the next video X CNA speaks to Bangladesh's interim leader Muhammad Yunus on reform in the country
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3 hours ago
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IOC says Ng Ser Miang conformed with rules amid allegation of mixing 'his many positions with family business'
SINGAPORE: The International Olympic Committee (IOC) on Thursday (Aug 14) said former vice president and current member Ng Ser Miang had conformed with the rules, following allegations of a conflict of interest. German website Sport & Politics reported on Tuesday that a complaint had been lodged against Mr Ng with the IOC Ethics Commission. The complaint alleged that Mr Ng had "mixed his many positions with family business in several respects in connection with esports, the Olympic Esports Week and the Olympic Esports Games", the website said. In response to CNA's queries, the IOC said that Mr Ng has "acted in full conformity with the Olympic Charter, and there is no evidence to prove the contrary". It added that Mr Ng has the full confidence of the IOC to further develop the Olympic Esports Games project. "Mr Ng Ser Miang, like all IOC members, has fulfilled his obligations. Therefore, the allegations made in this complaint are unfounded," an IOC spokesperson said. "There is no basis whatsoever to these claims, since there is full transparency through the IOC Declaration of Interests Form." The spokesperson added that all IOC members are required to declare their interests in companies, sports organisations and not-for-profit entities. "This is to avoid any actual or perceived risk of conflict of interest when the IOC engages with any third party." Mr Ng had not been directly involved in the development of esports in the IOC until 'very recently', the IOC said. The development has been driven by the IOC Esports Commission, of which Mr Ng has "never been" a member. The commission also steered the Olympic Virtual Series 2021 and the Olympic Esports Series 2023, which culminated in the Olympic Esports Week 2023. "The Olympic Esports Week was hosted in partnership with the Ministry of Culture, Community and Youth, Sport Singapore and the Singapore National Olympic Committee (SNOC)," said the IOC. "Mr Ng was not a member of the organising committee of the Olympic Esports Week. He co-chaired the steering committee together with the responsible minister." It added that all key decisions regarding the Olympic Virtual Series 2021 and the Olympic Esports Series 2023, including the selection of the game titles, were taken by the IOC Executive Board based on proposals from the Olympic Esports Commission and in cooperation with the relevant IOC departments. It was also the Esports Commission that presented the proposal to create Olympic Esports Games to the IOC Executive Board and the IOC Session in the summer of 2024. Recently, Mr Ng was appointed as chair of a joint committee of the IOC and the Saudi Olympic and Paralympic Committee (SOPC) to steer the Olympic Esports Games. This was because his expertise was "fully known and appreciated", said the IOC. "His connections to the industry were declared in full transparency in the IOC Declaration of Interests Form. "While the steering committee is working to prepare the decision on which games will be included in the Olympic Esports Games, the final decision will be made by the IOC Executive Board and/or the IOC Session," the committee added. The committee said that, as a "general point", the involvement of IOC members with the relevant expertise and networks, which are fully declared, is something which is to be welcomed in any area of operations. CNA has contacted Mr Ng, the Singapore National Olympic Council (SNOC), and the Global Esports Federation for comment. In January 2023, Mr Ng was fined 1,000 euros (US$1,165) and served with an official warning after being found guilty of interfering in a World Sailing election. Mr Ng and former World Sailing Ethics Commission chairman Dieter Neupert had been found guilty of failing to act with integrity and interfering in the election. Mr Ng was vice-president of the International Sailing Federation – World Sailing's predecessor – from 1994 to 1998. He has served the IOC as a member since 1998 and was vice president of the SNOC from 1990 to 2014.
CNA
4 hours ago
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Stocks diverge as bitcoin hits record high
LONDON: European and Asian stock markets diverged on Thursday (Aug 14) and bitcoin hit a record high on the eve of landmark talks between United States President Donald Trump and Russian counterpart Vladimir Putin on potentially ending the Ukraine war. Most European equity indices climbed after major Asian peers ended lower. Bitcoin hit a new peak at US$124,514.59 in Asian trading, before cooling to around US$121,500. The world's biggest cryptocurrency is benefiting from expectations that the Federal Reserve will cut US interest rates before 2026, which is weighing on the dollar. Bitcoin is also winning investor support thanks to strong backing for the cryptocurrency sector from Trump. "An accommodative stance from the Trump administration combined with expectations of a September Fed rate cut have helped to propel gains for bitcoin," Victoria Scholar, head of investment at Interactive Investor, noted on Thursday. The pound won some support thanks to expectations that the Bank of England may not follow up its interest-rate cut last week with another reduction this year. The currency's rise weighed on London's FTSE 100 index of top companies, some of which earn in dollars. Britain's economy performed better than expected in the second quarter as it weathered the impact of US tariffs and a higher UK business tax, official data showed on Thursday. On Friday, Putin and Trump are to discuss ways to settle the Ukraine conflict during a summit in Alaska, the Kremlin said. The meeting will be the first between sitting US and Russian presidents since 2021, and comes as Trump seeks to broker an end to Russia's nearly three-and-a-half-year offensive. "It is probably obvious to everyone that the central topic will be the resolution of the Ukraine crisis," Kremlin aide Yuri Ushakov told reporters. Oil prices edged higher on Thursday, with market watchers waiting to see if the meeting's outcome affects trading of crude, of which Russia is a major supplier.
