Latest news with #Harvard-educated
The Age
4 days ago
- Business
- The Age
Jail for former Indonesian trade minister over sugar imports a bitter blow for supporters
One of the architects of the Indonesia-Australia free trade deal and improved bilateral relations has been jailed in what supporters believe was a politically motivated prosecution designed to punish critics of the Indonesian government. Thomas Lembong was jailed for 4½ years for illegally authorising certain sugar imports at the expense of the state when he was serving as the nation's trade minister in 2015-16. Prosecutors requested a prison term of seven years, but a panel of judges gave Lembong a sentencing discount because they accepted he had not enriched himself in any of the supposedly corrupt deals. The Harvard-educated investment banker is respected in Australian political circles for his work in the cabinet of then-president Joko Widodo's cabinet and later as the chief of the country's investment board. Former Australian prime minister Malcolm Turnbull credited Lembong with facilitating what became a strong friendship between the Australian leader and Widodo. Loading But Lembong became a critic of Widodo in 2019. Significantly, he also served as an adviser to Anies Baswedan, who ran for president last year and was a serious challenger to Widodo's chosen successor, Prabowo Subianto. Anies could again run for president in 2029. Lembong was arrested in October, days after Prabowo was sworn in as Indonesia's leader and a decade after the supposed crimes. The timing and allegedly 'cherry-picked' charges against a high-profile opponent to the Widodo-Prabowo alliance set off red flags among democracy watchers. High-level corruption is common in Indonesia, and decisions about whom to prosecute and whom to leave alone are, rightly or wrongly, interpreted as signals from powerful people at the top.
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
Jail for former Indonesian trade minister over sugar imports a bitter blow for supporters
One of the architects of the Indonesia-Australia free trade deal and improved bilateral relations has been jailed in what supporters believe was a politically motivated prosecution designed to punish critics of the Indonesian government. Thomas Lembong was jailed for 4½ years for illegally authorising certain sugar imports at the expense of the state when he was serving as the nation's trade minister in 2015-16. Prosecutors requested a prison term of seven years, but a panel of judges gave Lembong a sentencing discount because they accepted he had not enriched himself in any of the supposedly corrupt deals. The Harvard-educated investment banker is respected in Australian political circles for his work in the cabinet of then-president Joko Widodo's cabinet and later as the chief of the country's investment board. Former Australian prime minister Malcolm Turnbull credited Lembong with facilitating what became a strong friendship between the Australian leader and Widodo. Loading But Lembong became a critic of Widodo in 2019. Significantly, he also served as an adviser to Anies Baswedan, who ran for president last year and was a serious challenger to Widodo's chosen successor, Prabowo Subianto. Anies could again run for president in 2029. Lembong was arrested in October, days after Prabowo was sworn in as Indonesia's leader and a decade after the supposed crimes. The timing and allegedly 'cherry-picked' charges against a high-profile opponent to the Widodo-Prabowo alliance set off red flags among democracy watchers. High-level corruption is common in Indonesia, and decisions about whom to prosecute and whom to leave alone are, rightly or wrongly, interpreted as signals from powerful people at the top.
Bangkok Post
16-07-2025
- Business
- Bangkok Post
Central bank contender touts need to work with government
A contender to be Bank of Thailand's (BoT) next governor said she would be "a little more aggressive" in articulating the path for interest rates, calling for closer coordination of monetary and fiscal policies. "As we have very limited resources, every bullet that we use would have to be more effective," BoT Deputy Governor Roong Mallikamas said in an interview in Bangkok on Tuesday. "That probably could be done only if we were in collaboration and our policies are directed in the same direction in a cohesive manner and better coordinated." Ms Roong made her comments the same day cabinet had been expected to endorse veteran banker Vitai Ratanakorn to lead the central bank. But a final decision has been delayed for at least a week, raising the prospect that Harvard-educated Roong could still get the top job. A career central banker, 56-year-old Roong is widely seen as representing continuity from current governor Sethaput Suthiwartnarueput, who has resisted government pressure over interest rates. Mr Vitai, in contrast, has publicly called for lower borrowing costs. The surprise delay in naming a new governor adds to uncertainty caused by the recent suspension of Prime Minister Paetongtarn Shinawatra, the daughter of former leader Thaksin Shinawatra. Thaksin, whose family has won nearly every election since the turn of the century, has long pushed for looser monetary policy while clashing with royalist generals, judges and bureaucrats. On top of that, Thailand is trying to stave off higher US tariffs that would damage its export-reliant economy and revive sluggish growth. The benchmark SET Index is among the world's worst-performing stock markets so far this year. Under Mr Sethaput, the central bank resisted government pressure for rate cuts and a higher inflation target to spur growth in an economy that has lagged the growth seen among peers in Southeast Asia. Ms Roong said that if she is appointed BoT governor, she would engage with diverse stakeholders from the government, financial and the private sector right from the start. "A lot of times we wait until things kind of develop to the stage where it has become a confrontation," Ms Roong said. "By hearing them early, they hear us early, telling them early, we made the chances of resolving and seeing more eye to eye and working with more space and more lead time." Ms Roong said she backs the BoT's current accommodative policy stance, which has seen 75 basis points of rate cuts since October, and noted that uncertainty about the rate outlook may prevent banks from lowering borrowing costs, reducing the overall effectiveness of interest rate cuts. "During this time of uncertainty, monetary policy needs to be supportive and serve as an anchor of stability," Ms Roong, who oversees financial system stability at the central bank, said in the interview. 'There are just too many uncertainties already and we should not add more. I would probably be a little more aggressive in articulating' the rate path, she said. Total loans have contracted for three quarters in a row, while household debt remains high. But the monetary policy committee led by Mr Sethaput has underscored the need to preserve its limited policy space to deal with future shocks, though most economists expect a further 50 to 75 basis points in rate cuts this year. The front-runner for governor, 54-year-old Vitai, is an advocate of lower rates and coordinated fiscal and monetary policy to help revive the faltering economy. As president of the Government Savings Bank (GSB), which has spearheaded state efforts to provide financial relief to debt-burdened households and individuals, he is perceived as being close to the finance ministry, raising questions about the independence of the central bank. Ms Roong has worked for nearly three decades at the BoT, helping shape monetary policy, financial regulation and fintech oversight. She also had a stint at state-run Krung Thai Bank Public Company Limited. "I have addressed challenges at the macro level and the micro level, being quite familiar with the central bank tools and purview and scope of our work, which is actually very wide, very large," she said. "So I'm just offering my experience."
San Francisco Chronicle
11-07-2025
- San Francisco Chronicle
‘American Nightmare' kidnapper Matthew Muller just got another life sentence
Matthew Muller, the former Marine and Harvard-educated lawyer at the center of the 2024 Netflix documentary 'American Nightmare,' received another life sentence Thursday in connection with a newly unearthed 2015 home invasion in Contra Costa County. Muller, 48, pleaded no contest to one count of aggravated kidnapping in the San Ramon case and was sentenced to life in prison without the possibility of parole by Contra Costa County Superior Court Judge David Goldstein. 'American Nightmare' kidnapper gets 2 life sentences for Bay Area home invasions, sexual assaults The conviction stems from a crime that took place just weeks after Muller's now-infamous abduction and sexual assault of Denise Huskins in Vallejo. That case, initially dismissed by Vallejo police as a hoax, garnered national attention and resulted in a $2.5 million settlement for Huskins and her partner, Aaron Quinn. The San Ramon home invasion remained unreported for nearly a decade until Muller confessed during a multi-day interview with authorities in Tucson, Arizona. Investigators, using a rough diagram Muller drew and Google Maps, identified the home he described. Muller admitted entering through a second-story window using a ladder, which was later found in a nearby ravine. In the spring of 2015, Muller held two men and a woman hostage, demanding $37,000 in ransom. Fearing retaliation, the victims did not report the incident until after Muller's confession. 'It's a shame it has taken 10 years to correct the mistakes made in the original investigation that permitted Muller to terrorize two additional families,' said El Dorado County District Attorney Vern Pierson. Muller has now been convicted in multiple counties for a string of home invasions and sexual assaults dating back to 1993. He is currently serving a 40-year federal sentence in Tucson and will not be eligible for parole until his late 80s or early 90s.
The Mainichi
03-07-2025
- Politics
- The Mainichi
Japan's emperor says he will honor Japanese POWs who were held in Mongolia
TOKYO (AP) -- Japan's Emperor Naruhito said Wednesday that he will honor thousands of Japanese prisoners of World War II who were held under harsh conditions in Mongolia when he visits the country next week. Naruhito, marking the 80th anniversary of the end of WWII, has been visiting some of the places where the bloodiest battles and bombings occurred, including Iwo Jima, Okinawa and Hiroshima. It's part of his effort at atonement and remembrance of the tragedy of war fought in the name of his grandfather, Emperor Hirohito. "I will pay tribute to the Japanese people who unwillingly died in the distant land away from home, and think of their hardships," Naruhito said at a news conference ahead of his July 6-13 trip to Mongolia. His Harvard-educated former diplomat wife, Empress Masako, will accompany him. Just before the end of the hostilities in 1945, the Soviet Union had declared war on Japan, taking most of about 575,000 Japanese POWs to Siberia. But around 12,000 to 14,000 of them were taken to Mongolia, which was fighting alongside the Soviets against Japan. Most of the POWs were put to hard labor and construction work for the Mongolian government's headquarters, a state university and a theater that are still preserved in the capital Ulaanbaatar. The prisoners toiled under harsh conditions and scarce food. Japanese records show about 1,700 of them died in Mongolia. "As we mark the 80th anniversary of the end of the war this year, we should never forget the pain and sorrow of the people," Naruhito said. "I believe it is important to not forget those who died, deepen understanding of the wartime past and to nurture the peace-loving heart." Naruhito has repeatedly stressed the importance of telling the war's tragedy to younger generations, pledging to contribute to efforts to promote the understanding of history and the determination for peace. The emperor's trip to Mongolia will be his second since he visited in 2007 as crown prince to mark the 35th anniversary of the diplomatic ties between the countries.
