Latest news with #EIU
The Star
28-05-2025
- Business
- The Star
Vietnam approves plan to develop high-tech human resources
The Eastern International University (EIU) is one of the facilities training high-quality human resources in Binh Duong southern province. — VNA/VNS HANOI: Deputy Prime Minister Le Thanh Long has approved a national plan to develop high-quality human resources for the high-tech sector from 2025 to 2035, with a vision to 2045. The scheme aims to strengthen Vietnam's science, technology, engineering and mathematics (STEM) capacity, fostering a workforce capable of driving innovation and participating in advanced research in strategic high-tech industries. It also seeks to enhance Vietnam's competitiveness in attracting global tech giants and support the country's sustainable economic transformation through science, technology, innovation, digitalisation, and green transition. By 2030, the plan targets a major increase in students pursuing advanced STEM degrees, particularly in core sciences, digital technology, artificial intelligence (AI), and biotechnology. At least 35 per cent of students at each education level are expected to study STEM subjects. The country aims to have 80,000 graduates per year in information and communications technology, with 10 per cent earning engineering, master's, or doctoral degrees. In AI, the goal is 8,000 graduates, with 20 per cent obtaining postgraduate qualifications. The scheme also prioritises linking education with strong research groups in core sciences and key technologies to support national high-tech and strategic technology initiatives. Between 2030 and 2035, Vietnam aims to have 100,000 ICT graduates a year, with 15 per cent at the postgraduate level. For AI, the annual target is 15,000 graduates, including 20 per cent with advanced degrees. At least 50 high-performing research teams in STEM are to be established, including 30 in strategic technologies. The country also aims to improve its global standing in STEM-related scientific publications. By 2045, Vietnam envisions its highly skilled STEM workforce as a core national asset, enhancing its competitiveness in high-tech investment, particularly in strategic sectors. The goal is for Vietnamese higher education institutions to rank among Asia's leaders in STEM education and research, especially in digital technology, AI, and biotechnology. To achieve these goals, the government has outlined six key measures, including enhancing investment policies for STEM education, providing financial support for STEM students, and developing and implementing policies to attract and retain talented lecturers. The Ministry of Education and Training will develop standards for talent programmes, set criteria for selecting institutions, allocate training quotas, and guide investment in laboratories and talent-oriented curricula. The Ministry of Science and Technology will coordinate research and development tasks aligned with strategic technology goals and doctoral STEM training, while the Ministry of Finance will work with relevant bodies to review and allocate state budget resources in line with public investment regulations. — Vietnam News/ANN
Indian Express
06-05-2025
- Politics
- Indian Express
Opinion A lesson for South Korea: Impeachment hasn't deepened democracy
Han Duck-soo, the interim president of South Korea, resigned on May 2, citing his desire to prepare for a more significant role. Choi Sang-mok, the deputy prime minister and next in line to become interim president of South Korea, also resigned. The political crisis that erupted after Yoon Suk yeol was impeached at the beginning of this year is clearly yet to be resolved. Yoon Suk yeol was the second South Korean president to be impeached, following Park Geun-hye. Yoon's impeachment is viewed as a democratic triumph for the country. The Economist Intelligence Unit (EIU), a branch of the Economist Group which creates the Democracy Index, ranks South Korea 16th out of 167 countries. South Korea's democracy with its frequent changes in government, free and fair elections, and citizen participation are acknowledged across the world. But the current crisis has tarnished that reputation. Accusing the opposition of having North Korean sympathies, Yoon implemented martial law with ease, underscoring the dangers of excessive securitisation and the deterioration of democratic standards. Moon Jae-in's previous administration, too, was widely criticised for sabotaging institutions and abusing power. This democratic regression can be attributed to a number of reasons. First, securitisation, which is the process of taking an issue that is not a security threat and framing it as an existential danger, has been used to support a variety of undemocratic practices, including citizen surveillance and limitations on free expression. This pattern began underSyngman Rhee's administration, when authoritarian practices were justified by framing North Korea as a danger. Every president since has employed the 1948 National Security Law to quell opposition, even though it violates South Korea's international human rights commitments. Second, the concentration of executive authority in South Korea also encourages democratic backsliding. While the National Assembly and other independent entities have little ability to monitor the presidency, the South Korean president has considerable authority over intelligence services, the Supreme Prosecutor's Office, and the bureaucracy. The system of checks and balances is weakened by the executive's centralisation of powers Then there is the weak party system. Despite South Korea's claims to be a multiparty democracy, its political landscape is dominated by two major parties. Others who hold different opinions find it more difficult to be represented as a result. As a result, the political system in South Korea cannot accurately represent people with varied views, and because of its limited intellectual scope, some political ideas are excluded from the conversation. In December 2014, the South Korean government banned the Unified Progressive Party, because it had questioned the government's election practices, but under the pretext of supporting North Korea. There are also significant limitations on the nation's media environment. According to the Press Freedom Index, South Korea is ranked 42nd, and since 2011, the press has been regarded only as partially free. Critics claim that a 'fake news bill' that was approved by the government in 2021 was intended to stifle independent journalism. Additionally, the independence of the judiciary has also been under pressure. Therefore, instead of viewing Yoon's impeachment as a win, academics and decision-makers ought to concentrate on diversifying South Korean politics. Preventing future political crises requires addressing the nation's democratic shortcomings and reforming national laws. In the absence of such changes, more and more people would start viewing martial law as a necessary step towards political stability.
Yahoo
29-04-2025
- Business
- Yahoo
EIU leaders warn staff of potential funding cuts
CHARLESTON, Ill. (WCIA) — Some faculty members at Eastern Illinois University are worried their programs could be on the chopping block. Staff members received an email from Jay Gatrell, EIU's President, explaining the possible cuts the school may face. The University is reviewing federally funded programs such as WEIU Broadcasting Services, TRIO Programs and selected State of Illinois grants and contracts. 'We serve those students who are first generation, low-income, or students with a documented disability,' Maggie Burkhead, EIU's TRIO Director, explained. 'We're providing services like tutoring, study skills workshops, and time management.' But if the Department of Education is dissolved, she's worried their money will disappear. The White House said the move to close it would improve programs in higher education. At EIU, there's no guarantee funding will continue. 'How we could be hurt by funding is not getting the increase we're seeking,' Burkhead said. 'If the administration doesn't put money in the budget.' U of I Soybean Innovation Lab saved with $1 million anonymous donation Those involved in TRIO programs aren't the only people concerned about potential cuts. Some student journalists and staff members at WEIU are worried their studio may be in the dark. 'They learn about dealing with community, representing community, and what journalism is supposed to be,' Susan Kaufman, WEIU's former news and public affairs director, said. She's experienced cuts in past newsrooms before. 'The private versus public sector has always been a problem; there have always been attempts to cut it,' Kaufman said. She hopes the lights can stay on, so students have a platform to learn, grow and share balanced stories of society. Meanwhile, Burkhead remains optimistic and hopes grants get approved so students continue receiving support. 'It's important because they're going to be taxpaying citizens and help move the economy,' she said. Federal immigration crackdown starting to affect U of I students Regarding TRIO, Burkhead hopes to learn if grant money is approved in June. The nearly $300,000 would help programs stay afloat. The current money ends on August 31st. In a statement, the University said: 'EIU joins other higher education institutions across the nation in reviewing the potential impact of cuts to federal grants.' Eastern Illinois University Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Economist
24-04-2025
- Politics
- Economist
What's wrong with democracy in Europe?
THIS YEAR reliable old Europe once again did best in the global democracy index, an annual report published by EIU, our sister company. While democracy declined across much of the world—dragged down by emboldened dictators and decaying regimes—Europe's score inched up. Many European voters, however, do not see much to celebrate.
Indian Express
22-04-2025
- Business
- Indian Express
51 lakh citizens lost Rs 15,483 crore in investment frauds, Mumbai police re-starts Economic Intelligence Unit
Five years after its dissolution over corruption allegations, an intelligence unit for the effective prevention of economic offences has now been newly formed by Mumbai police. Vivek Phansalkar, Mumbai Police Commissioner, passed an order on April 16 (a copy is available with The Indian Express) for formation of a new designated Economic Intelligence Unit (EIU) under the Economic Offences Wing (EOW). The Indian Express on January 11 had first highlighted the absence and significance of such an intelligence unit in Mumbai after the Torres Ponzi scheme mass fraud surfaced, in which nearly 15,000 victims lost around Rs 150 crore to a well-organised fraud allegedly committed by Ukrainian-based masterminds. In the absence of a financial crime intelligence unit and the lack of oversight, a fertile ground was created for foreign nationals, including those behind the Torres scam, to establish operations in Mumbai, offer unprecedented financial returns, and dupe unsuspecting investors — all without the police having any prior knowledge or intelligence about the scheme. Thus, such mass frauds flourished without any checks. As per the police commissioner's order, the new EIU cell would be headed by a senior inspector (SrPI) rank officer assisted by two sub-inspectors or assistant inspectors and eight men (constables). 51 lakh people lost Rs 15,500 crore in 10 years in Mumbai Underlining the need for having an intelligence unit for financial crime, the police commissioner's standing order stated, 'In the last 10 years since the formation of the Economic Offences Wing of the Mumbai police, there have been approximately 100 cases (96) registered under the provisions of the MPID (Maharashtra Protection of Interest of Depositors) Act. These cases involve a defrauded amount of approximately Rs 15,500 crore and over 50 lakh victims. The magnitude of the problem is therefore evident. In this context, it is felt that a mechanism for preventing the occurrence of such offences be brought into force. How EIU will function The mandate of the EIU will include, collection of information regarding ongoing deposit schemes operating in the jurisdiction of the zone on a monthly basis. This report must be sent by the Zonal DCPs by the fifth of every month (to the EIU). In addition, the EIU must also suo motu collect such information from field and social media sources and put them up before the joint commissioner of police, EOW. The data collected (by EIU) will later be categorised into regulated and unregulated schemes. In the case of the latter, a primary inference regarding the applicability of the BUDS Act (Banning of Unregulated Deposit Schemes) may be drawn. If the scheme is found to be in the nature of an unregulated deposit, the zonal DCP should forward it to the JtCP, EOW only for information. He/she should proceed with further action under the BUDS Act, wherever applicable. Based on the inputs collected and due permission from the commissioner, appropriate discreet enquiry may be done (by the EIU). 'If there is indication of fund diversion for purposes other than those from which assured returns may be reasonably expected, this fact must be noted. Alternatively, it may be a case of multi-level marketing or incentive-based referral schemes. All schemes categorised under the Red Category would be brought to the notice of the JtCP EOW by the EIU through proper channel, on file. The JtCP would then submit it to the CP Mumbai, who would decide the appropriate legal recourse to be adopted, the commissioner's order reads. In the year 2020, the EOW's 'Intelligence Cell', which was in operation since the formation of the EOW, was dissolved following corruption allegations. Since its disbandment, the EOW has lacked a dedicated mechanism to gather intelligence on large-scale financial crimes and investment frauds. Former police commissioner Sanjay Barve, who once called EOW the 'Settlement Branch', believed that the Intelligence Unit, under the then Deputy Commissioner (DCP) of EOW, had been assigned more investigative cases than it was designed to handle. Despite the unit's primary mandate being the gathering of intelligence, not conducting investigations, Barve raised concerns about the overreach. Additionally, amid corruption allegations against some officers, Barve decided that the Intelligence Unit was no longer necessary. At his direction the unit was dissolved. EIU lacks power? Sources within the police force have indicated that the newly formed EIU provides less rights to the officers working in it. If you are re-forming a crucial unit after 4-5 years then it should be upgraded once, but that's not the case with EIU. The order for new EIU also does not speak anything on their specialised training. The old unit, which was specifically tasked with gathering intelligence on individuals and schemes targeting gullible investors with promises of high returns, consisted of a team of four to six highly trained and well-informed officers, supported by a group of tech-savvy constables. These officers underwent regular training by industry experts to enhance their ability to gather intelligence on economic offences. The old Intelligence Unit (of EOW) coordinated with the Fraud and Recovery Intelligence, Risk Containment Units, and Vigilance Units of major financial institutions, including the RBI and commercial banks. Through collaboration with these vigilance units, the Intelligence Unit was able to advise organisations on preventive measures against fraud and gather advance information on suspicious transactions. This early-warning system allowed the police to monitor potentially fraudulent activities before they could escalate. After mass frauds like Torres, and CA Amber Dalal ponzi schemes surfaced, many had felt the need to revive the economic offences intelligence unit. Many officials argued that dissolving such an essential unit over corruption allegations was a poor choice. They contend that there are alternative measures, such as transferring or disciplining the rogue officers, rather than dismantling an entire unit that had a critical role in addressing rising financial crimes. Major ponzi schemes & investment frauds in Mumbai * Torres ponzi scheme mass fraud: In this cashback form of investment fraud, people were lured into investing money, promised weekly interest ranging from 4 to 12 per cent. Nearly 15,000 victims from Mumbai, Thane, Navi Mumbai and Mira Road lost around Rs 150 crore to a well-organised fraud allegedly committed by Ukrainian-based masterminds. * Amber Dalal case (2024): CA Amber Dalal defrauded 2,009 investors of ₹1,100 crore through a ponzi scheme, promising monthly returns of 1.5%-1.8%. Assets worth ₹67 crore were attached by the ED after his arrest. * Heera gold investment fraud (2018): Prime accused Nowhera Shaikh of Heera Gold group of companies along with her associates allegedly carried out an investment fraud in which over 250 people were duped to the tune of Rs 18 crore. Shaikh is facing multiple fraud cases across India for allegedly duping thousands of people to the tune of Rs 500 crore across the country. * Conman Chandrashekhar (2015): Chandrashekhar, posing as an MP, duped 500 people of ₹19 crore via Lion Oak India. He was arrested along with actress Leena Paul. * Qnet scam (2013): Around five lakh investors lost ₹1,000 crore in a pyramid scheme run by Michael Ferreira and others under QNET. * City Limousine Scam (2007): Over 65,000 investors were swindled of ₹980 crore in Mumbai alone, with total liabilities exceeding ₹2,885 crore. * SpeakAsia scam (2010): The company duped 24 lakh investors of ₹2,276 crore, funneling ₹900 crore abroad through fraudulent marketing surveys.
