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New Straits Times
4 days ago
- Business
- New Straits Times
NST Leader: Embracing Timor-Leste
DESPITE backing from Malaysia and Indonesia, certain Asean members have reservations about Timor-Leste's membership to the bloc. The country is politically and economically underwhelming, unable to make significant contributions and once accepted, potentially burdensome to the grouping. Yet, because of its troubled economy, incapacitated institutions and political volatility, Timor-Leste badly needs Asean like a fish needs water, as membership can help it overcome its problems. World Bank data show Timor-Leste's economy had shrunk for three straight years since 2020, from a high of US$3.62 billion to just US$2.08 billion in 2023. But the worst could be over, as the government in Dili announced on March 25 that Timor-Leste's gross domestic product grew four per cent last year. The country is also bogged down by underdeveloped infrastructure and education system, as well as poor English fluency, prejudicing its ability to participate in Asean initiatives. Yet, Timor-Leste is a diamond in the rough, blending natural beauty, and rich history and culture, underscoring its huge potential for tourism. The capital of Dili has a unique Portuguese colonial charm and its biodiverse Coral Triangle is teeming with marine life. By 2030, Timor-Leste's tourism revenue from Asean travellers is estimated to be US$150 million. Its people are warm and generous, so much so that in 2005, Timor-Leste, despite its impoverishment, donated US$100,000 for South Asian tsunami victims. Timor-Leste broke free from Indonesia in 2002, after its citizens overwhelmingly chose independence in a United Nations-sponsored referendum in 1999. In efforts to be an Asean member, Dili has ticked every box: an observer since 2002, participated in meetings and discussions, aligning development plans with Asean economic integration and signed key treaties. They also prioritised infrastructure development, including improvements to its international airport, while strengthening economic and institutional frameworks. Timor-Leste understands that an Asean membership is a lifeline that will translate to access to regional markets and investment opportunities. Still, the future looks promising: by October, Timor-Leste is expected to become Asean's 11th member, underscoring that membership isn't confined to enriching the already wealthy. It also proves that Asean isn't just paying lip sevice to talk of economic prosperity. By embracing Timor-Leste as a full-fledged member, Asean shows it's not just what a country brings to the table that matters, but also how the grouping stays true to its original goal of uplifting the region. And this aligns with Malaysia's "prosper thy neighbour" ethos. If we help a friendly nation grow and prosper, everybody wins.
India Today
13-05-2025
- Politics
- India Today
Watch: Rival militias clash in Tripoli after reported killing of Libya's SSA chief
Heavy gunfire and violent clashes shook the streets of Tripoli on Monday evening after reports surfaced that a local militia leader had been killed. According to Reuters, gunshots were heard across the city centre and other neighbourhoods of the Libyan leader who was killed was Abdelghani al-Kikli, also known as "Ghaniwa." He commanded the Stability Support Apparatus (SSA), one of the strongest armed groups operating in Tripoli. His group is based in the Abu Salim area, a heavily populated part of the media are flooded with videos showing intense fighting and the sounds of heavy gunfire. People across the city said they heard loud gunshots, and the streets quickly turned chaotic. Drivers began speeding and honking their horns in panic.#Breaking: More videos of the clashes in #Ttripoli, capital city of #Libya tonight. Babak Taghvaee - The Crisis Watch (@BabakTaghvaee1) May 12, 2025 "Senior security sources confirmed that al-Kikli was killed at a headquarters affiliated with the 444th Combat Brigade in the Tripoli Military Zone," quoted the Libyan media reported early Tuesday that the defence ministry had regained full control of Abu Salim, where the SSA was ISSUES SAFETY ALERT, SCHOOLS SHUTThe Stability Support Apparatus, headed by al-Kikli, falls under the jurisdiction of the Presidential Council that was established in 2021 under a United Nations-sponsored peace process. The existing unity government, also referred to as the Government of National Unity (GNU), is led by Prime Minister Abdulhamid a reaction to the violence, the GNU's interior ministry released a message asking people to stay indoors. "For their own protection," it advised, citizens are not to venture the University of Tripoli, cancelled all classes, exams, and administrative activities at its campuses until further notice. The announcement was made public via a Facebook post by the leadership of the CALLS FOR CALM AMID GROWING TENSIONSThe United Nations Mission in Libya (UNSMIL) urged all groups involved in the fighting to stop immediately and restore calm in Tripoli. The UN also reminded fighters of their duty to protect innocent civilians. "Attacks on civilians and civilian objects may amount to war crimes," the statement said has been plagued into instability since 2011, when a rebellion backed by NATO led to the fall of longtime ruler Muammar Gaddafi. The country has since been split between rival factions in the east and the west. While in 2020 a ceasefire was established, attempts to create permanent peace have been largely capital, Tripoli, is also a conflict hotbed. There are several groups of armed forces who frequently struggle for power, influence, and dominance over the riches of Libya - particularly its oil READ: Sheikh Hasina's Awami League officially banned as Bangladesh revises terror law
Yahoo
29-04-2025
- Business
- Yahoo
Canadian lender RBC abandons sustainable finance goals
TORONTO (Reuters) -Canada's Royal Bank of Canada will abandon its sustainable finance goals as industry practices for measuring and reporting sustainable finance have evolved, it said on Tuesday. "We have reviewed our methodology and have concluded that it may not have appropriately measured certain of our sustainable finance activities as presented on a cumulative basis," Canada's biggest lender said in its 2024 sustainability report published on Tuesday. "We are considering potential changes to our overall approach to sustainable finance, including our Sustainable Finance Framework," the bank said. It said last year's changes to Canada's Competition Act limited banks from sharing certain sustainability disclosures and the progress being made. RBC and other big banks have quit the Net-Zero Banking Alliance, a United Nations-sponsored initiative set up by Mark Carney, who won an election on Monday and will stay on as Canada's Prime Minister. Campaigners worry banks are seizing on a shift in the political climate, particularly under U.S. President Donald Trump, to dilute commitments to act quickly on decarbonising their portfolios. Sign in to access your portfolio
Reuters
29-04-2025
- Business
- Reuters
Canadian lender RBC abandons sustainable finance goals
TORONTO, April 29 (Reuters) - Canada's Royal Bank of Canada ( opens new tab will abandon its sustainable finance goals as industry practices for measuring and reporting sustainable finance have evolved, it said on Tuesday. "We have reviewed our methodology and have concluded that it may not have appropriately measured certain of our sustainable finance activities as presented on a cumulative basis," Canada's biggest lender said in its 2024 sustainability report published on Tuesday. "We are considering potential changes to our overall approach to sustainable finance, including our Sustainable Finance Framework," the bank said. It said last year's changes to Canada's Competition Act limited banks from sharing certain sustainability disclosures and the progress being made. RBC and other big banks have quit the Net-Zero Banking Alliance, a United Nations-sponsored initiative set up by Mark Carney, who won an election on Monday and will stay on as Canada's Prime Minister. Campaigners worry banks are seizing on a shift in the political climate, particularly under U.S. President Donald Trump, to dilute commitments to act quickly on decarbonising their portfolios.
News24
25-04-2025
- Politics
- News24
Central African Republic agrees peace deals with two rebel groups
CAR government has signed peace deals with two armed Fulani groups, UPC and 3R, mediated by Chad. Both groups committed to cease hostilities and rejoin 2019's peace process after leaving in 2021. Fighting persists in remote areas despite violence subsiding and the government securing main cities. The Central African Republic's government has signed peace deals with two of the five groups in the country's most powerful armed rebel movement, officials said on agreements were signed last week in Chad, which acted as a mediator. "They committed to immediately ceasing hostilities upon signing the agreements on April 19... under the auspices of the guarantor, Chad," General Henry Wanzet Linguissara said. The CAR is among the poorest countries in the world and, since independence from France in 1960, has endured a succession of coups, authoritarian rulers and civil wars. The latest civil war started more than a decade ago. The government has secured the main cities, and violence has subsided in recent years. However, fighting occasionally erupts in remote regions between rebels and the national army, which is backed by Wagner mercenaries and Rwandan troops. The two predominantly Fulani armed groups that signed peace agreements are the Union for Peace in the Central African Republic (UPC) and the 3R Return, Reclamation and Rehabilitation details on the terms of the agreements or a timeframe were released. But Linguissara said the two groups had "committed to reintegrating into the peace process" struck by the government with 14 armed groups in 2019. The UPC and the 3R had left the process in 2021. Government spokesperson Maxime Balalou said: The two groups are part of the Coalition of Patriots for Change (CPC), founded in December 2020 with the aim of overthrowing President Faustin Archange Touadera after he was re-elected for a second term. It is headed by exiled ex-president Francois Bozize, who seized power in 2003 in a coup and was, in turn, ousted by a Muslim-dominated armed coalition called the Seleka. Now living in exile in Guinea-Bissau, Bozize is the target of an arrest warrant issued by a United Nations-sponsored tribunal in the CAR for possible crimes against humanity.
