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Canada to announce new security and defence investment plan, Globe and Mail reports

Canada to announce new security and defence investment plan, Globe and Mail reports

The Standard3 days ago

Canada's Prime Minister Mark Carney speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada May 28, 2025. (Reuters)

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Is acceptance by India's Modi to attend G7 summit in Canada a ‘Pyrrhic victory'?
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Is acceptance by India's Modi to attend G7 summit in Canada a ‘Pyrrhic victory'?

Canadian Prime Minister Mark Carney 's invitation to his Indian counterpart Narendra Modi last week to attend the G7 summit starting on Sunday has sparked debate on whether the last-minute request came amid pressure from other countries in the group of rich nations or a sign of a thaw in ties with India Advertisement Carney extended the invitation to Modi in a phone call between the two leaders on Friday. Modi has accepted the invitation, saying his meeting with Carney will lead to 'renewed vigour' in bilateral ties. 'As vibrant democracies bound by deep people-to-people ties, India and Canada will work together with renewed vigour, guided by mutual respect and shared interests. Look forward to our meeting at the summit,' Modi said in a social media post. Indian media reports had earlier said Modi was likely to miss the G7 meeting as Ottawa's failure to send an invitation to the leader with less than a fortnight left for the event had left little time for New Delhi to arrange his schedule. Advertisement The June 15–17 meeting of leaders from the Group of Seven advanced economies – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – will be held in Kananaskis, Alberta. Although India is not a G7 member, it has been regularly invited to take part in the group's meetings in recent years.

Safeguards can ensure legal basketball betting is the best result for all
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The NBA finals, under way in the United States, are being closely followed by millions of basketball fans around the world. Many bets will be placed on the matches, including in Hong Kong. All wagers made in the city will be illegal. There is no lawful form of basketball betting, despite its soaring popularity. But that is about to change. The government has released the results of a one-month public consultation on its proposal to legalise betting on the sport. It says 94 per cent of 1,063 respondents were in favour and only 3.4 per cent against. Given that this is a sensitive social issue, with concerns about problem gambling, the level of support is surprisingly high. It is proposed that basketball betting be modelled on the one for football adopted in 2003. Lawful bets must be made with the sole authorised bookmaker, the Hong Kong Jockey Club. No credit will be given, juveniles will not be permitted to bet and there will be no gambling on matches involving local teams or staged in Hong Kong. The move is intended to combat illegal betting on basketball, which is on the rise. The Jockey Club estimates syndicates enjoyed an astonishing turnover of up to HK$90 billion last year from the city on basketball alone. Legalising gambling on the sport will also inject cash into government finances as it tackles a budget deficit of HK$87.2 billion. Betting duty will be 50 per cent of net stake receipts. In time, it is hoped the scheme will raise HK$1.5 billion a year. If people must bet on basketball, it is better they use a lawful, well-regulated platform. Conditions can be imposed and funds pumped back into the community, through taxes and the Jockey Club's charitable donations. But there are also valid concerns the move might encourage problem gambling, especially among young people. These must be taken seriously.

Malaysia's new luxury tax a hard sell for Anwar as popularity wanes
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Malaysia's new luxury tax a hard sell for Anwar as popularity wanes

Many Malaysians may find life's little indulgences suddenly beyond their reach from next month, when fresh taxes bite on premium goods and services like salmon and silk – and even haircuts – after the cash-strapped government said it would raise revenue from so-called luxury spending. Taxes of between 5 and 10 per cent will be imposed on 'discretionary and non-essential goods' as well as financial and beauty services and private education from July 1, the Finance Ministry said in a statement late on Monday. This means Malaysians will have to pay 5 per cent more for premium goods – ranging from king crab to cod, truffle mushrooms and essential oils – and an extra 10 per cent on their hobbies if they are looking to buy racing bicycles or antique artwork. These items all now come under the discretionary spending category. As these luxury items are not typically consumed by most Malaysians, they will not have much effect on inflation, according to the government. Basic necessities such as pet food will be exempt from the new sales tax. Photo: Shutterstock Basic necessities like chicken, rice, milk, medicines and pet food, however, will remain exempt from sales tax, along with construction materials and agricultural inputs like fertiliser, 'to avoid direct pressure on the cost of living' for most Malaysians, the government added.

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