Latest news with #SMLeeAsia
Straits Times
6 days ago
- Politics
- Straits Times
‘Epstein files' explained: Why Trump is under pressure
Find out what's new on ST website and app. US President Donald Trump is struggling to quell his supporters' obsessions with the Epstein case. WASHINGTON - A perceived lack of transparency over the US investigations into notorious sex offender Jeffrey Epstein has carved a rare chasm between President Donald Trump and his typically loyal Republican base. As Mr Trump struggles to quell his supporters' obsessions with the case – one long surrounded by conspiracy theories – AFP outlines its history and why it has caused so much outrage. Origins of the Epstein case Jeffrey Epstein, a wealthy American financier, was first charged with sex offenses in 2006 after the parents of a 14-year-old girl told police that he had molested their daughter at his Florida home. He avoided federal charges – which could have seen him face life in prison – due to a controversial plea deal with prosecutors that saw him jailed for just under 13 months. In July 2019, he was arrested again in New York and charged with trafficking dozens of teenage girls and engaging in sex acts with them in exchange for money. Prosecutors said he worked with employees and associates to ensure a 'steady supply of minor victims to abuse'. Epstein pleaded not guilty to the charges against him. On Aug 10, 2019, while in custody awaiting trial, authorities said he was found dead in his prison cell after hanging himself. Top stories Swipe. Select. Stay informed. Singapore July BTO launch to have over 4,600 balance flats, 2 BTO projects with under than 3-year wait Business US tariffs may last well after Trump; crucial for countries to deepen trade ties: SM Lee Asia Indonesia police detain 12 suspects over baby trafficking ring linked to Singapore Singapore 'Kpods broke our marriage, shattered our children': Woman on husband's vape addiction Singapore Las Vegas Sands' new development part of S'pore's broader, more ambitious transformation: PM Wong Multimedia Telling the Singapore story for 180 years Life Walking for exercise? Here are tips on how to do it properly Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years A separate case against Epstein's girlfriend Ghislaine Maxwell, who was jailed in 2022 for helping him abuse girls, detailed Epstein's connections with high-profile figures like Britain's Prince Andrew and former US president Bill Clinton. Both have denied any wrongdoing. Why are there conspiracy theories? Some people believe that authorities are concealing details about the Epstein case to protect rich and powerful elites who associated with him, including Mr Trump. Those ideas have gripped Mr Trump's 'Make America Great Again' (Maga) movement – but demands for more transparency have crossed the political aisle. One key theory centers on a rumoured client list of individuals who committed sex offenses alongside Epstein. The Trump administration has insisted that no such list exists. Skeptics also allege suspicious circumstances in Epstein's death such as the security cameras around his cell apparently malfunctioning on the night he died, alongside other irregularities. Mr Trump and the Epstein case Mr Trump, who as a New York property magnate rubbed shoulders with Epstein, said when re-running for president that he would 'probably' release files related to the case. But since taking office, many of Mr Trump's supporters have been disappointed by what they see as a failure to deliver. The 79-year-old himself was dragged into the conspiracy theories after his former advisor Elon Musk claimed in June – in a now-deleted X post – that Mr Trump was 'in the Epstein files'. The Trump administration's efforts to appease demands for a full disclosure of the so-called Epstein files have largely fallen short. A bundle released in February that promised to shed light on the Epstein case contained little new information. Meanwhile, an almost 11-hour video published this month to dispel theories Epstein was murdered fell flat. The camera angle showed a section of the New York prison on the night Epstein died, but appeared to be missing a minute of footage, fueling more speculation online. And a memo from the Justice Department and FBI last week saying the Epstein files did not contain evidence that would justify further investigation was met by calls for the heads of each agency to resign. What comes next? Mr Trump has been towing a delicate line – saying he supports the release of any 'credible' files related to Epstein while dismissing the case as 'pretty boring stuff'. But even the normally authoritative president seems unable to arrest the disruption, as critics and even key allies call for more transparency. Mr Mike Johnson, the Republican speaker of the House, has not followed Mr Trump's line on the issue and has instead urged the Justice Department to make public any documents linked to Epstein. Meanwhile, Democrats have seized on the rift between Mr Trump and his party by demanding his administration publish the full evidence held by prosecutors in their case against Epstein. AFP
Straits Times
6 days ago
- Business
- Straits Times
EU asset manager Amundi launches new fund in S'pore that tracks Straits Times Index
Find out what's new on ST website and app. The Amundi Singapore Straits Times will be the first unit-trust-based index fund tracking the STI by a global asset manager. SINGAPORE – European asset manager Amundi is launching a fund that tracks Singapore's benchmark Straits Times Index (STI) with investment platform Endowus. The Amundi Singapore Straits Times will be the first unit-trust-based index fund tracking the STI by a global asset manager in Singapore, both companies announced on July 16. The fund also commemorates SG60, a celebration of Singapore's independence and transformation into a global economic powerhouse, they added. The STI is a benchmark of Singapore's established listed companies. It has been hitting new highs, with an intraday high of 4,129.8 points reached on July 15. In 2024, it delivered total returns of 24.3 per cent – its best performance in a decade. 'Through the fund, investors can participate and grow alongside Singapore's ongoing growth story in a low-cost, meaningful way,' the companies said. Two other exchange-traded funds (ETFs) in Singapore already track the STI – the SPDR Straits Times Index ETF and the Nikko AM Singapore STI ETF. The three funds aim to replicate as closely as possible, before expenses, the performance of the STI. The SPDR Straits Times Index ETF was listed in 2002. Between Jan 1, 2020, and July 14, 2025, its assets under management increased by 131 per cent to $1.92 billion. Top stories Swipe. Select. Stay informed. Singapore July BTO launch to have over 4,600 balance flats, 2 BTO projects with less than 3 year wait times Business US tariffs may last well after Trump; crucial for countries to deepen trade ties: SM Lee Asia Indonesia police detain 12 suspects over baby trafficking ring linked to Singapore Singapore 'Kpods broke our marriage, shattered our children': Woman on husband's vape addiction Singapore Las Vegas Sands' new development part of S'pore's broader, more ambitious transformation: PM Wong Multimedia Telling the Singapore story for 180 years Life Walking for exercise? Here are tips on how to do it properly Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years The Nikko AM Singapore STI ETF was listed in 2009. Between Jan 1, 2020, and July 14, 2025, its assets under management increased by 195 per cent to $973 million. Amundi South Asia chief executive Albert Tse said: 'We are proud to be the first global asset manager since the global financial crisis to launch a fund of this nature, leveraging our longstanding expertise in indexing solutions and trusted partnership with a home-grown financial platform like Endowus to deliver this to Singapore investors for SG60.' The STI has historically offered dividend yields relatively higher than regional bourses, the companies added. The STI also has historically offered lower volatility than global equity benchmarks, 'driven by Singapore's robust banking, real estate, telecommunications, and industrial sectors', they said. 'Amid global volatility, Singapore's equity market has been a pillar of stability.' Over the 18-year period from January 2008 to June 2025, the STI maintained an average dividend yield of 3.77 per cent, with yields generally between 3 per cent and 5 per cent. 'This positions the fund as an option for investors seeking stable income or defensiveness while maintaining exposure to the long-term growth potential of Singapore's economy,' the two companies said. The fund will be available exclusively on the Endowus platform at an all-in-one fee under an institutional share class. It also has no sales charge, and offers an option for investors wanting growth with relatively lowered volatility. The collaboration combines Amundi's global investment expertise in ETFs and index management with Endowus' digital-first platform. The launch of the fund comes amid efforts to boost the local equities market, with the Equities Market Review Group launched in 2024 to facilitate product offerings and improve liquidity, among other measures. 'The fund complements these by attracting additional capital to benefit local enterprises,' the companies said. Endowus chairman and chief investment officer Samuel Rhee said: 'As a home-grown brand, Endowus is proud to play a role in deepening financial access and supporting the aspirations of Singaporeans through every stage of their wealth journey. 'Investing in Singapore's most established companies is, in many ways, investing in the nation's continued prosperity.' SGX group head of securities trading Serene Cai said the growing interest in the STI reflects the resilience and relevance of Singapore's equity market as a core allocation. 'With close to $3 billion of listed assets tracking the STI today, the index continues to demonstrate its strength as a trusted benchmark – offering institutional and retail investors diversified exposure to Singapore's leading companies and delivering consistent performance over time,' she said. SPH Media editor-in-chief of the English/Malay/Tamil Media group Wong Wei Kong said: 'Even as Singapore commemorates 60 years of independence and The Straits Times celebrates 180 years this year, the STI will be looking forward to being 60 next year. It is truly an integral part of the nation's economic, business and market development.'
