• newsinsightplus.com
• 10s
• 13th
• March 30, 2024
• 0 Comments

BBC HomepageSkip to contentAccessibility HelpYour accountNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceAirlines are roaring back in places you might not expectPublished1 day agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Tata Group took over Air India in 2022 and has been investing in new jets, branding and transforming dated systemsBy Suranjana TewariBBC News, SingaporeWhen India’s Tata Group bought the country’s national airline, it was welcomed as something of a miracle. Air India had been mired in debt and under-funded state management for decades. No-one wanted even a piece of the iconic but loss-making carrier.But a deal was struck in 2021, just as the world was emerging from the pandemic – and airlines were betting big on revenge travel once borders reopened.They were right. The rebound is well and truly under way and air travel is off to a roaring start in 2024. There have been warnings of slower growth in the US, where spending is expected to plateau after a post-pandemic spike. But it is a different story on the other side of the world in Asia.”If we look at the size of the opportunity in India, it’s already the world’s most populous country,” Air India’s chief executive Campbell Wilson told the BBC at a recent aviation event in Singapore. “It has the geographic advantage… connecting regions of the world together. And it is a hugely underserved market.”By 2042, India’s domestic aviation market is expected to be five times the size it was in 2019, with Indians taking around 685 million trips every year, according to plane maker Airbus. That would make the South Asian nation one of the world’s fastest-growing civil aviation markets, and third after China and the United States. How Air India’s record plane deal is a game-changerIt is not just India. By the middle of the century, Indonesia, which now ranks 13th globally in passenger numbers, is predicted to jump to the fourth spot, analysts say. Air travel is also expected to boom in the Philippines, Thailand and Vietnam in the coming decades.They are all emerging economies with young, growing populations that can afford to spend on travel. And it is showing: global air traffic jumped by 16% over the last year. But in Asia, the increase was almost twice as much, according to industry figures.Governments in these places are also investing in infrastructure to improve connectivity, which is essential in vast archipelagos like Indonesia and the Philippines.China, of course, is an obvious market – despite its currently sluggish economy, its travellers have emerged from zero-Covid rules to return to holidaying. Beijing is now offering visa-free travel to citizens of certain countries and some nations, like Thailand and Singapore, are reciprocating.”We are pleased that people are beginning to travel out of China. It is probably one of the last countries to come back big in travel,” says Glenn Fogel, chief executive of online travel agency Booking.com.But airlines are looking for alternative markets because of China’s slowing economy, the uncertainty of doing business there and a fall in consumer spending.Image source, Getty ImagesImage caption, The Philippines one of the the fastest-growing markets for air travelEnter the Philippines.”Asia is a very exciting place to be – the Philippines is one of the most exciting places to be. Great opportunity there,” says Michael Szucs, chief executive of the Philippine budget carrier Cebu Pacific. The airline struggled through the pandemic without government support. And like many competitors around the world, it is also facing groundings over faulty Pratt & Whitney engines. But it has seen a revival in the last two years, expanding and cornering more than half of its domestic market. A new Philippine government is also helping – it is privatising the international airport in Manila and plans to add runways throughout the archipelago to receive larger and more aircraft.How Malaysia Airlines came back from twin tragedies Mr Szucs has high hopes for the country of around 115 million people, where per capita spending is rising: “We’ve got an increasingly educated population that is relatively young, it’s growing, with an increasing propensity to travel.”India, on the other hand, is a trickier market to conquer. Air India faces a stiff domestic rival in Indigo, and a daunting challenge in matching Emirates and Qatar Airways, which regularly rank among the world’s best airlines.But the successful salt-to-software conglomerate Tata has started to turn the ailing carrier around. The company has already spent millions of dollars investing in new planes, new branding and restructuring old and inefficient systems.Image source, Getty ImagesImage caption, South East Asia has returned as a regional rather than global hubNow it wants to consolidate its five airlines – three Air India subsidiaries, and two joint ventures, Air Asia India and Vistara (with Singapore Airlines). The goal: a highly regarded airline for international flyers, and a reliable low-cost option for domestic passengers.Mr Wilson hopes to restore Air India’s glory – it was India’s first airline, started by the Tatas in the 1930s and rebranded as Air India and nationalised in the 1950s. He believes winning the international market is key but will need “connecting more cities around the world nonstop with India” – and that will involve starting more routes and, of course, buying more aircraft.The company has already gone on a buying spree. It ordered more than 200 Boeing Max 8 and Max 10s in one of the largest airline deals in aviation history. But the Max family of planes is under scrutiny since a door plug blew off a 737 Max 9 plane mid-flight in the US, sparking concerns about the already delayed Max 10 model. This was after two deadly crashes in 2018 and 2019 because of flawed flight control software. The crisis at Boeing over its safety record has also seen the resignation of its chief executive Dave Calhoun. How much trouble is Boeing in?”When we have concerns, we raise it at the highest levels, including with Boeing,” Mr Campbell said. Mr Wilson sees Air India’s future in turning India into a global transit hub, much like Dubai or Singapore.That might be a challenge given that some long-haul routes, especially to Europe, are yet to be reinstated after the pandemic.Meanwhile, travellers in these countries are choosing to fly within East and South East Asia, driving up air traffic in the region.But that could also be an opportunity for Air India, and for Delhi given that some South East Asian capitals are lagging behind other international aviation hubs like Singapore, Hong Kong and Dubai.The industry, however, is upbeat because the pandemic is over, people are flying again and economies are bouncing back.”The fact is people like to travel,” Mr Fogel said. “As long as economies are growing, we know that travel is going to grow a little bit faster. And our job is to try and get a bigger part of that growing pie.”Related TopicsBoeingAsiaTravelPhilippinesIndiaAir travelTop StoriesDUP leader Sir Jeffrey Donaldson resigns after rape chargePublished10 hours agoWar a real threat and Europe not ready, warns Poland’s PMPublished5 hours agoAI millionaire: ‘Video games can boost creativity’Published5 hours agoFeaturesThe Papers: DUP leader charged and ‘hefty’ water bill riseChris Mason: Another moment of instability for Northern IrelandSeven bills going up and one going down in AprilAI photos show people with cancer their lost future’I drove 14 hours to see a Banksy for 10 minutes’The football pitch that doubles as an execution groundMixed feelings over Canada’s drug decriminalisation testEwan McGregor ‘turned into his grandad’ in new roleA view from inside ship that hit Baltimore bridge. VideoA view from inside ship that hit Baltimore bridgeElsewhere on the BBCAmbition, money and deceptionThe scandalous true story of Elizabeth Holmes and Theranos, starring Amanda SeyfriedAttributioniPlayerGet a job, pay the bills. Sounds simple, right?Fresh, surreal comedy from the mind of Lucia KeskinAttributioniPlayerFrom Starman to film star…How did the silver screen inspire David Bowie?AttributioniPlayerCan new evidence solve aviation’s greatest mystery?Ten years after the Malaysian Airlines flight disappeared, new technology may explain whyAttributioniPlayerMost Read1’Escorted through the airport like a criminal’2Seven bills going up and one going down in April3DUP leader charged and ‘hefty’ water bill rise4Boy dies in hospital after being found in Thames5Iranian TV host stabbed outside London home6Sir Jeffrey Donaldson resigns after rape charge7Gladiators reaches final after successful reboot8War a real threat and Europe not ready, warns Poland’s PM9Powerful gang leader demands role in Haiti peace talks10AI millionaire: ‘Video games can boost creativity’

[ad_1] The rebound is well under way in young, emerging economies where spending power is on the rise.

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• newsinsightplus.com
• 2020.Mr
• 2023Why
• March 19, 2024
• 0 Comments

BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceEvergrande: China property giant and its founder accused of $78bn fraudPublished7 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Hui Ka Yan is the founder of Chinese property giant EvergrandeBy Mariko OiBusiness reporterStruggling Chinese property giant Evergrande and its founder, Hui Ka Yan, have been accused of inflating revenues by $78bn (£61.6bn) in the two years before the firm defaulted on its debt.The country’s financial markets regulator has fined the company’s mainland business Hengda Real Estate $583.5m.Mr Hui also faces being banned for life from China’s financial markets.In January, Evergrande was ordered to liquidate by a Hong Kong court.The China Securities Regulatory Commission (CSRC) laid much of the blame on Mr Hui, who was once China’s richest man, for allegedly instructing staff to “falsely inflate” Hengda’s annual results in 2019 and 2020.Mr Hui was also fined $6.5m, according to a filing by the company to the Shenzhen and Shanghai stock exchanges.Evergrande did not immediately respond to a BBC request for comment.Last September, Mr Hui who is also the company’s chairman was put under police surveillance as he was investigated over suspected “illegal crimes”.The announcement comes days after the CSRC vowed to crack down on securities fraud, and protect small investors with “teeth and horns”.Evergrande has been the poster child of China’s real estate crisis with more than $300bn of debt.Liquidators have been appointed to look at Evergrande’s overall financial position and identify potential restructuring strategies.That could include seizing and selling off assets, so that the proceeds can be used to repay outstanding debts.However, the Chinese government may be reluctant to see work halt on property developments in China, where many would-be homeowners are waiting for homes they have already paid for.Problems in China’s property market are having a major impact as the sector accounts for around a third of the world’s second largest economy.The industry has been facing a major financial squeeze since 2021, when authorities introduced measures to curb the amount big real estate developers could borrow.Since then several large property firms have defaulted on their debts.On Monday, official data showed that property investment in China fell 9% in January and February from a year ago. New construction starts also dropped by 30% which was their their worst fall in more than a year.Related TopicsInternational BusinessChina economyMore on this storyChina property giant hit with winding-up petitionPublished28 FebruaryCrisis-hit China Evergrande ordered to liquidatePublished29 JanuaryThe rise and fall of Evergrande’s billionaire founderPublished29 September 2023Why should I care if Evergrande collapses?Published29 JanuaryTop Stories’Only God can change this place’: Haitians see no end to spiralling violencePublished7 hours agoUS reports death of senior Hamas military leaderPublished1 hour agoSex and nudity in films get stricter age ratingsPublished2 hours agoFeaturesThe Papers: Kate ‘pictured in public’ and ‘key’ Rwanda voteWhy Gillian Anderson found it scary to play Emily Maitlis’Untreated trauma led to our soldier son’s suicide’Is TikTok really a danger to the West?The highs and lows of First Minister Mark DrakefordBridgerton’s Nicola Coughlan: Why I hate on-screen vanityMiles of new pylons needed for electricity upgradePredicting Putin’s landslide was easy, but what comes next?The US Navy’s relentless battle against Houthi attacksElsewhere on the BBCIs there a link between gardening and your gut?Michael Mosley learns how getting grubby in the garden can improve your overall healthAttributionSoundsThe most famous waterway in the Americas is running dryThe Global Story explores the impact on the international shipping industryAttributionSoundsThe moment a Russian warship sank in the Black SeaThe vessel was destroyed by a Ukrainian drone near the Kerch BridgeAttributioniPlayerAre The Beatles Ireland’s greatest band?Steven Cockcroft and Jason Carty explore the Fab Four’s connection with the Emerald IsleAttributionSoundsMost Read1Prince William to visit Sheffield homeless project2Kate ‘pictured in public’ and ‘key’ Rwanda vote3Why Gillian Anderson found it scary to play Emily Maitlis4Potholes leave nations’ roads at ‘breaking point’5Sex and nudity in films get stricter age ratings6’Only God can change this place’: Haitians see no end to spiralling violence7US reports death of senior Hamas military leader8JD Sports accused of ‘irresponsible’ motorbike ad9Trump unable to get $464m bond in New York fraud case10Rwanda bill amendments overturned in Commons vote

[ad_1] Former billionaire Hui Ka Yan has been fined and faces being banned from the financial markets for life.

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• newsinsightplus.com
• 10part
• 12month
• March 13, 2024
• 0 Comments

BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaShowmax and Netflix battle for high-octane drama – African stylePublished36 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, ShowmaxBy Aaron AkinyemiBBC NewsSassy, provocative African-made dramas could be key to potentially one of the biggest streaming markets in the world – and one new show is proving the point.”Lights off at eight. No sex here,” a teacher tells a new student in Youngins, set in fictional boarding school in South Africa. But audiences have been learning that rules are there to be broken – and the Showmax series, with an episode released every week on the South African-based subscription streaming service, is a wild ride full of fun, danger, sex and violence.”I would describe the show as captivating, relatable, authentic, fun, funny and fresh – but like South African fresh,” Kealeboga Masango, who plays the role of head girl in the drama, tells the BBC.And that is what is key – the show makers hope its African authenticity will set it apart, and it forms the basis of Showmax’s ambitious business plan.”We really go deep into the different cultures of South Africa – it’s very beautiful watching not just black bodies being represented on screen, but South African bodies being represented,” Youngins director Themba Mfebe tells the BBC.”So it feels like my neighbour’s kid, my sister’s kid. It’s like, I know these people. And most of the time, they’re speaking in South African languages.”Image source, Getty ImagesImage caption, Youngins director Themba Mfebe started out as a camera assistantWith 70% of sub-Saharan Africans being under the age of 30, Showmax, which also offers documentaries and Premier League football, wants to expand its market share in the African subscription video-on-demand space . Other global streaming giants such as Amazon Prime are decreasing their investment in Africa and have cut jobs on the continent amid restructuring to focus on the European market.But Showmax, owned by the MultiChoice Group – one of the continent’s biggest pay TV operators – is doing the opposite by ramping up production with 21 new original African shows recently released.Its chief executive Marc Jury says the target for their parent company, with millions of dollars of investment in new productions, is to expand to 50 million consumers across the African continent by 2028: “Our ambition is to be the number one streaming platform in Africa.”Rival streamer Netflix has also been steadily expanding its presence in Africa’s video streaming market. Between 2016 and 2022, it invested $175m (£139m) in South Africa, Nigeria and Kenya.In 2020, it also signed a lucrative multi-title deal with Nigerian production company EbonyLife, founded by acclaimed producer Mo Abudu, to create multiple original Netflix series and films.Revenge thriller The Black Book, which it recently acquired, became the first ever Nigerian film to soar to number three on Netflix’s worldwide film charts – watched by more than 20 million people in its opening weeks last year.Image source, Anakle FilmsImage caption, Nollywood veteran Richard Mofe-Damijo is the star of The Black Book, about police brutality and government corruptionNetflix says it has created around 12,000 jobs on the continent and plans to continue to invest in local creative economies and support more African storytellers.”We are still in many ways at the inception stages of our investment journey, so it’s doubly exciting to know we are poised to deliver even greater impact if we maintain our current momentum,” Shola Sanni, Netflix’s policy director for sub-Saharan Africa, has said.But streaming technology can face challenges in African markets.”There are not too many flat rate plans and a single movie consumes quite a lot of data,” explains Ivan Biljan, from European video streaming company UniqCast.He tells the BBC the lack of affordable and reliable broadband access and internet piracy are also significant hurdles for companies that want to sell video on-demand.However, he is optimistic: “I think the future is bright for Africa because they have a lot of things that other markets, such Europe and America, don’t. “In the coming years, they will have 400-500 million new young tech-savvy customers who are new potential users and subscribers.”MultiChoice’s Showmax hopes to take advantage of this by using new streaming technology, in a partnership with NBCUniversal and Sky, and also partnering with mobile phone company MTN South Africa to make streaming services more accessible with data bundle offers.Over the next 12 months Showmax says it will launch more than 1,300 hours of original programming – a 150% increase in production output compared to the year before.Image source, ShowmaxImage caption, Youngins storylines also tackle sexuality and gender issues – with a non-binary student, played by Katlego Moloke, as one of the charactersAmong their most-anticipated new series is Red Ink, created with Bomb Productions, the company behind the Oscar-nominated film Mandela. There is also a 10-part crime series called Catch Me a Killer starring Game of Thrones actress Charlotte Hope about South Africa’s first serial killer profiler.To enable this boost in production, MultiChoice supports a 12-month programme to develop emerging African TV and film talent through hands-on industry experience.”When I started out, it was the first year of it,” says Mfebe about his training in 2018.”I was a camera assistant and you learn from all the different departments. I also met a lot of people that I still work with today throughout the industry.”This African-centred approach to storytelling appears to be resonating with local audiences.In 2022, nine out of Showmax’s top 10 most-streamed titles in Ghana were all African-produced. In Kenya, South Africa and Nigeria, the majority of the top 10 most streamed titles were also African-made.Showmax, which for the last nine years has operated in 44 sub-Saharan countries and currently produces original series for three core markets – South Africa, Nigeria and Kenya – will unveil its first original series from Ethiopia and Tanzania later this year.Actor Lebohang Lephatsoana, who plays Youngins character Tumelo, sums up the love being shown for the high school drama: “Africans always gun for telling authentic stories that the audience is going to relate to.”Africans are beautiful storytellers. If anything we’re storytellers from when we get born,” he tells the BBC.The performer takes to song – with the official 2010 World Cup hit by Shakira and South African group Freshly Ground – to make his point: “It’s time for Africa. Tsamina mina eh eh. Waka waka eh eh.”You may also be interested in:Mr Ibu – the man who made Africa laughNew Netflix series African Queens tells the story of NjingaAfrica’s largest film festival turns 50From Nollywood to Netflix: Genevieve Nnaji’s rise Related TopicsStreamingAfrica economySouth AfricaAround the BBCFocus on Africa podcastsTop StoriesNo 10 says Tory donor’s alleged comments about Abbott were racistPublished4 hours agoEU says starvation being used as weapon of war in GazaPublished1 hour agoUK to pay failed asylum seekers to move to RwandaPublished2 hours agoFeaturesPM says donor was racist and ‘funeral home horror’The gangsters and rebels jostling over power in HaitiCan royals move on from Kate photo media storm?The Ukrainian sea drones hunting Russian warshipsHow the miners’ strike changed the role of womenMeet the pop star who brought some cheek to the Brit AwardsWhat is TikTok and could the US ban it?’We don’t feel the joy of Ramadan in Rafah’ Video’We don’t feel the joy of Ramadan in Rafah’Schoolboy recounts daring escape from Nigerian kidnap gangElsewhere on the BBCThe powerful emotional impact of Pink Floyd’s musicShine On You Crazy Diamond has helped people through their hardest timesAttributionSoundsFrom the largest ship to disasters on deck…A closer look at times when cruise ships have caused commotionAttributioniPlayer’I was mad for stuff but I didn’t realise I wasn’t happy’Stuart Mitchell’s search for happiness will make us all question the true cost of livingAttributionSoundsMisled with the promise of a home…Panorama investigates the mobile home swindleAttributioniPlayerMost Read1PM says donor was racist and ‘funeral home horror’2Navalny ally Leonid Volkov attacked in Lithuania3UK to pay failed asylum seekers to move to Rwanda4World’s largest trees are ‘thriving in UK’5No 10 says Tory donor’s alleged comments were racist6Ashes and 35 bodies removed from funeral home7Andrew Tate and brother can be extradited to UK8Ghislaine Maxwell appeals sex abuse conviction9Warning after cat falls into Japan chemical vat10Can royals move on from Kate photo media storm?

[ad_1] The streaming services with original content eyeing Africa’s massive youth audience.

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• newsinsightplus.com
• 1m.The
• 2023Top
• February 17, 2024
• 0 Comments

BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaKey takeaways from Donald Trump’s ‘overwhelming’ fraud trial defeatPublished5 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Michael M. Santiago/Getty ImagesImage caption, Donald Trump leaves the New York fraud trial.By Kayla EpsteinBBC New, New YorkIn a stunning blow to his business empire, Donald Trump has been found liable for almost $355m (£281m) in penalties by Justice Arthur Engoron, in a long-awaited conclusion to the billionaire’s fraud trial. The judge issued a further shock to the real estate personality once synonymous with Manhattan’s skyline, barring him from doing business in New York for three years. Justice Engoron broadly sided with Attorney General Letitia James’ argument that the Trump Organization should pay a steep price for fraudulently misrepresenting their assets in order to get more favourable loans and interest rates over the course of years.While the judge backtracked on an earlier, controversial decision that threatened to dissolve many of Mr Trump’s businesses in New York, his judgement still represents a serious setback for the 77-year-old.Here are the key things to know about Justice Engoron’s decision and its impact.1. A crushing financial penalty for TrumpMr Trump and his real estate organisation were ordered to pay $354,868,768 (£281m) in fines, just short of the amount Ms James had requested. This is an enormous sum, even for a billionaire.Donald Trump Jr and Eric Trump, the former president’s two sons who currently run the Trump Organization, must pay $4m each in fines. Allen Weisselberg, the former chief financial officer of the Trump Organization, must pay $1m.The defendants may also have to pay heavy interest on their fines, potentially adding millions more to the total. Ms James estimated that the sum Mr Trump owes could eventually come to $463.9m. “It is an overwhelming defeat for the former president on all counts,” said Mitchell Epner, a white-collar attorney in New York.Mr Trump will likely appeal Justice Engoron’s decision. But to stay the verdict pending the appeal, he will have to put up the entirety of the fine within 30 days. And the penalties come hot on the heels of the $83.3m a jury recently ordered him to pay the writer E Jean Carroll for defaming her. Combined, the two might represent more cash that Mr Trump has free.There are a few ways he could find the money, and all those routes might face complications. “He’s got to think about what to do with his assets, how to perhaps liquidate businesses to come up with that money,” Sarah Krissoff, a former federal prosecutor, said ahead of the ruling. 2. Trumps barred from doing business in New York, but not foreverJustice Engoron barred Donald Trump from doing business in New York for three years. His sons, Eric and Donald Jr, are barred for two years.Ms James had asked for a lifetime ban for Mr Trump, but Justice Engoron opted for a shorter length of time.Image source, Pool via Getty ImagesImage caption, Justice Arthur Engoron oversees Trump’s New York fraud trial.These days, Mr Trump does not spend much time in the city where he built his empire, and most of his recent visits have been for court dates. Instead, he has established himself firmly in Florida, a far more favourable political climate.And the order will not apply outside the state. Mr Trump has other business and properties around the country and the world, and Justice Engoran’s order would not stop him from being involved with them. Nonetheless, the ruling seriously curtails his ability to do business in a city home to some of his most valuable assets, Steve Cohen, a professor at New York Law School, told the BBC.The verdict “does everything in this court’s power to eliminate the ability of Donald Trump, and those who operate on behalf of Donald Trump to do business in the jurisdiction over which this court has authority: New York state,” said Mr Cohen.3. Judge walks back a controversial initial ruling and Trump Organization will still existOne of the biggest questions ahead of the decision was whether Justice Engoron would stick with an initial ruling from September, which ordered the dissolution of Mr Trump’s businesses in New York.Legal experts had serious questions about whether the sweeping anti-fraud statute Ms James used to bring the case applied to Mr Trump’s businesses that took the form of limited liability companies (LLCs). Judge Engoron’s earlier ruling had covered those businesses, but today, he walked that back.Instead, he subjected those companies and the Trump Organization to strict oversight, and any decisions about the “restructuring and dissolution” of Mr Trump’s LLCs will fall to an overseer.This revision will make it less likely for Justice Engoron’s decision to be overturned on appeal.”Self-correction is always wiser than being reversed,” Mr Cohen observed. The Trump Organization will continue to exist in a modified, and heavily scrutinized form, he explained. But even though the worst outcome – the dissolution of Mr Trump’s New York businesses – was avoided, the ruling was still an incredibly broad interpretation of the anti-fraud law, Mr Cohen added.4. Court monitor will keep company under a microscopeEven though the ruling was very detrimental to Mr Trump, he got a slight reprieve when Justice Engoron decided to keep an independent monitor in place for at least three years. Justice Engoron could have also appointed a receiver to oversee Mr Trump’s businesses, which would have had even more control over their operations, Mr Cohen explained. An independent monitor, while still a serious oversight, is a slightly less severe option.”Instead of being placed in a straitjacket, in a locked room, under guard, they’re being put in handcuffs, in a locked room, under guard,” Mr Cohen observed.Image source, Michael M. SantiagoImage caption, Trump attends his New York fraud trial.Still, the independent monitor will have broad authority to keep Mr Trump’s businesses in line. The monitor, Barbara Jones, will get to appoint an independent director of compliance to work under her, and the Trump Organization will have to pay them. “By installing this additional layer, this compliance director, it’s a person who’s literally sitting at Trump Organization, and nothing can go out, nothing can be issued without that person approving,” said Diana Florence, a former federal prosecutor.”It’s a big deal and it’s certainly should have the impact of stopping any misstatements on financial records.”5. Ruling lays bare Trump’s controversial business practicesJustice Engoron cited extensive evidence from throughout the trial to underscore his ultimate decision.And he did not hold back when laying out his justification for such a harsh ruling. At one point he quoted the British poet Alexander Pope: “To err is human, to forgive is divine.””Defendants,” Justice Engoron wrote, were “apparently are of a different mind”.”Their complete lack of contrition and remorse borders on pathological,” he said. “Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a ‘See no evil, hear no evil, speak no evil’ posture that the evidence belies.””This trial has made clear just how sloppily the Trump Organization is run as a business when it comes to its financial practices,” said Will Thomas, a professor at University of Michigan’s Ross School of Business.With additional reporting from Madeline Halpert in New York City. Related TopicsNew York CityDonald TrumpFraudMore on this storyTrump must pay $354m. How could he do it?Published7 hours agoTrump ordered to pay $354m in New York fraud casePublished4 hours agoThe billion-dollar question at heart of Trump trialPublished11 December 2023Top StoriesLive. ‘Putin is responsible’ – Biden speaks out after report of Navalny’s deathUkraine troops pull out of key eastern town AvdiivkaPublished3 hours agoNavalny was often asked: ‘Do you fear for your life?’Published10 hours agoFeaturesThe Papers: Putin ‘must pay for Navalny’ and Harry reaches outArrested and poisoned: See Navalny’s moments of defiance. VideoArrested and poisoned: See Navalny’s moments of defianceAlexei Navalny in his own words – dark humour during dark times’Zombie Fires’ burning at an alarming rate in CanadaHow the fantasy world of D&D can be a home for everyoneGay woman aims to found LGBT-accepting churchI made my Chewbacca suit from 45 bags of hair extensionsChris Mason: Tory gloom deepens after double poll blowTwo by-elections, two Labour wins… in two minutes. VideoTwo by-elections, two Labour wins… in two minutesElsewhere on the BBCThe sound effect that became the ultimate movie in-jokeIt’s used in everything from Toy Story to Reservoir Dogs, but what is the Wilhelm Scream?AttributioniPlayerWhat is it really like to be a monk?’To be a monk is something very vast, very high and very beautiful’AttributioniPlayer’I smashed all my trophies’Bradley Wiggins opens up about his mental health and imposter syndromeAttributioniPlayerFancy a film tonight?There’s something for everyone on BBC iPlayerAttributioniPlayerMost Read1The day I found out I had special ‘neo’ blood2Putin ‘must pay for Navalny’ and Harry reaches out3Is it even possible to do 28 A-levels – and what’s the cost?4Trump ordered to pay $354m in New York fraud case5Ukraine troops pull out of key eastern town Avdiivka6£10k payout ‘cruel’, says bankrupt Post Office victim7Six-time Olympic champion Hoy reveals cancer diagnosisAttributionSport8Fans get rare chance to see Big Yin’s ‘Big Banana Feet’9New Parkinson’s drug to be rolled out on NHS10Two teenagers charged over Super Bowl parade shooting

[ad_1] Donald Trump was hit with a crushing $354m fine, but averted the worst outcome for his business empire.

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• newsinsightplus.com
• 2023China
• 2023Evergrande
• January 29, 2024
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BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceEvergrande: Hong Kong judge orders property giant’s liquidationPublished29 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Millions of people in China bought an unfinished home from Evergrande and other developersBy Mariko OiBusiness reporterChina’s debt-ridden property giant Evergrande has been ordered to liquidate by a court in Hong Kong.Judge Linda Chan said “enough is enough” after the property giant failed to come up with a restructuring proposal.Evergrande has been the poster child of China’s real estate crisis with over $325bn (£256bn) of liabilities.When Evergrande defaulted two years ago it sent shockwaves through global financial markets.The decision is likely to send ripples through China’s financial markets at a time when authorities are trying to curb a stock market sell-off.Evergrande shares fell by more than 20% in Hong Kong after the announcement.China’s property sector contributes roughly a quarter of the world’s second biggest economy.Liquidation is a process where a company’s assets are seized and sold off. The proceeds can then be used to repay outstanding debts.However, whether this process is followed may depend on the Chinese government and the liquidation order does not necessarily mean that Evergrande will go bust and collapse.The case was brought by one of its investors, Hong Kong-based Top Shine Global, in June 2022 which said that Evergrande had not honoured an agreement to buy back shares.But what they owed is a fraction of Evergrande’s total debts.The vast majority of the money it owes is to lenders in mainland China who have limited legal avenues to demand their money.Foreign creditors, in contrast, are free to bring cases to court outside mainland China and some have chosen Hong Kong, where Evergrande and other developers are listed, to bring lawsuits against them.Following the making of a winding up order, the companies’ directors will cease to have control.A provisional liquidator – either a government employee or a partner from a professional firm – will likely be appointed by the court, according to Derek Lai, the global insolvency leader at Deloitte.After meetings with creditors, the formal liquidator will be appointed within several months.But most of Evergrande’s assets are in mainland China and despite the “one country, two systems” slogan, there are thorny jurisdictional issues.There is an agreement between the courts of China and Hong Kong to recognise the appointment of liquidators but Mr Lai says that as far as he is aware, “only two out of six applications” have been recognised by courts of three pilot areas in mainland China. The Chinese Communist Party also seems eager to keep developers afloat to make sure that ordinary homebuyers who bought property even before building work began get what they paid for.That means Beijing could choose to shrug off the Hong Kong court order.”Even if the appointed liquidator is mutually recognised in Hong Kong and mainland China, he or she would need to follow the laws of mainland China when conducting approved liquidation-related matters there,” Mr Lai adds.The liquidation order against the parent company does not mean an immediate suspension of Evergrande’s construction work, either.”This does not place all of the subsidiaries into liquidation,” says Nigel Trayers, managing director of restructuring at Grant Thornton, adding that liquidators may seek to take control of certain subsidiaries after conducting investigations.”But they would need to do this by either seeking to place the subsidiaries into liquidation or by appointing themselves as directors of those subsidiaries,” he adds. “In doing this, they will need to move through the corporate structure layer by layer and there may be certain challenges in doing this in practice.”Mr Lai points out that despite the liquidation order, “if a company is insolvent, it is not likely that unsecured creditors would recover the full amount of their claims”.Foreign creditors would also unlikely get their hands on their money before mainland creditors do.Even if Judge Chan’s orders are not carried out in China, it would send a strong message and give us a clue on what other developers and creditors may face.She presides over not just Evergrande, but also other defaulted developers such as Sunac China, Jiayuan and Kaisa.Last May, she ordered the liquidation of Jiayuan after its lawyers failed to explain why they needed more time to iron out their debt restructuring proposal.”How an offshore liquidator would be treated by onshore stakeholders when there are significant local creditors and considerations at play remains to be seen,” says Daniel Margulies, a partner at Dechert in Hong Kong who specialises in restructuring matters in Asia.Evergrande has been working on a new repayment plan but in August last year, it filed for bankruptcy in the US in a bid to protect its American assets as it worked on a deal. The following month, its chairman Hui Ka Yan was put under police surveillance.Related TopicsChinaMore on this storyWhy should I care if Evergrande collapses?Published29 September 2023Evergrande chairman put under police surveillancePublished28 September 2023The rise and fall of Evergrande’s billionaire founderPublished29 September 2023China Evergrande files for US bankruptcy protectionPublished18 August 2023Top StoriesThree US troops killed in Middle East drone attackPublished3 hours agoDisposable vapes to be banned over fears for children’s healthPublished4 hours agoBoys, 15 and 16, killed in stabbing attack namedPublished13 minutes agoFeaturesDeath of US troops ratchets up pressure on BidenThe bus route that costs £124 per passengerWhen will the Bank start to cut interest rates?The Papers: ‘Iran war’ fears and ‘two more teens killed’ BBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormCould the UK’s ‘pre-war generation’ become a citizen army?What is Ofsted and how do inspections work?Elsewhere on the BBCHow are jelly beans made?Gregg Wallace visits a factory in Dublin that makes over ten million of the sweets per day!AttributioniPlayerIs this the greatest Jurassic predator that ever lived?Sir David Attenborough investigates a unique discovery: the skull of a giant, prehistoric sea monsterAttributioniPlayer’I smashed all my trophies’Bradley Wiggins opens up about his mental health and imposter syndromeAttributioniPlayerA Royle Family reunion and the best of the North!Ricky Tomlinson and Ralf Little set off on an epic camper van adventure across Northern EnglandAttributioniPlayerMost Read1Three US troops killed in Middle East drone attack2Disposable vapes to be banned for child health3Young drivers risk fraud to save on insurance cost4British base jumper dies after parachute fails5Boys, 15 and 16, killed in stabbing attack named6The bus route that costs £124 per passenger7Special review into NHS trust which treated killer8’It’s a dream come true to work with Zayn Malik’9’Iran war’ fears and ‘two more teens killed’1049ers set up Super Bowl rematch with champions ChiefsAttributionSport

[ad_1] A liquidation order may have little impact in mainland China where most of Evergrande’s assets are held.

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• January 29, 2024
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BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaSouth African Airways: Troubled airline returns to intercontinental travelPublished2 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, In 2011, the airline marked the arrival of new planes but its fleet has now been pared backBy Jewel Kiriungi BBC News, JohannesburgSouth African Airways – once a giant of African aviation – is back in the intercontinental market, but there are still doubts about its financial viability. It had disappeared from our skies altogether in September 2020, having fallen victim not just to Covid but also another disease that has plagued some other state-run carriers – corruption and mismanagement.It may be on the verge of a sale that would see a private consortium take a majority share in the business.However, its handling of finances has recently come in for severe criticism by the country’s public spending watchdog.In a scathing report, Auditor-General Tsakani Maluleke said that the financial statements SAA had drawn up dating from the 2018-19 financial year lacked credibility. The airline recorded losses in the four years from 2018 of a staggering $1.2bn (£1bn).But interim chief executive officer (CEO) John Lamola said this did not reflect the current position of the airline, which is under new management.He said the situation had improved in the most recent financial year, with the airline now “running on financial resources generated from its own operations”.Towards the end of last year, in a sign that SAA wants to be a major player again, it reopened its routes from Cape Town and Johannesburg to São Paulo, Brazil. And now it is selling tickets for flights to Perth, Australia.These are the airline’s first long-haul destinations in three years. It did return in September 2021, making a surprise profit serving a limited number of African destinations after coming out of voluntary business rescue. This was a process which saw the airline placed under the temporary supervision of experts who were asked to return the company to financial health. They pared back the fleet from 44 aircraft to six and focused on the African market.Image source, Getty ImagesImage caption, After resuming short-haul flights, SAA has been celebrating milestones including the airline’s first black African female flight crew First Officer Refilwe Moreetsi (L) and Captain Annabel VundlaNow it is aiming further afield.”The choice of São Paulo was as a result of a very meticulous economic and market research analysis,” Mr Lamola told the BBC.He added that the intercontinental flights hoped to enhance trade and tourism ties between the two countries as members of Brics – an expanding group of emerging economies originally comprising Brazil, Russia, India, China and South Africa.Prior to the Covid pandemic, SAA operated five other intercontinental routes from Johannesburg to destinations including New York and Hong Kong.That route encapsulates the prestige that used to accompany the airline. Once the largest in Africa, SAA faced profound challenges in the last decade.”South African Airways notoriously has gone through a process in South Africa called ‘state capture ‘, where there are well-recorded incidents of corruption that characterised the life of the airline,” said Mr Lamola, adding that investigations were ongoing.An official inquiry into state capture released at the beginning of 2022 showed that the airline had been wracked by corruption between 2012 and 2017.As a result of the mismanagement, SAA was forced to rely entirely on government financial assistance over a 10-year period to stay afloat, a situation made worse by Covid.”In that period… the government had to put in some 40bn rand ($2.2bn) into SAA,” said Public Enterprises Minister Pravin Gordhan.It had been run at a loss since 2011.The national carrier was placed under voluntary business rescue in 2019 to protect it from bankruptcy.SAA sell-off planIt was then forced to suspend all operations in September 2020, as it struggled to raise a bailout of over $540m. As part of a programme to rescue the airline, the government announced plans, in June 2021, to sell a 51% stake in SAA to a group known as the Takatso Consortium.Under the scheme, the government’s department of public enterprises retains the remaining 49% stake, securing a long-term national strategic interest in the airline.Last July, it was approved by the Competition Tribunal of South Africa provided that certain conditions were met.One of the requirements was a moratorium on staff cuts that guarantees job security for SAA employees during the transitional phase. But it has hit problems, with trade unions alleging that proper procedures were not followed. A parliamentary committee plans to subpoena Mr Gordhan to investigate this further.Takatso, with its huge cash injection, had been seen as a lifeline for SAA, but the airline says it will carry on with its expansion plans in the meantime. SAA’s new management hopes to shift the business from its dependence on state support to a financially self-sustaining one, by only maintaining a fleet it can afford and pulling out of the low-cost market.”This airline must be able to survive on operational efficiencies,” said Mr Lamola.These include choosing routes for commercial rather than political reasons, building a fleet with appropriate long-haul aircraft and matching expansion with the pace of the post-Covid recovery in the global aviation industry.Image source, Getty ImagesImage caption, SAA wants the airline’s name to be back on departure boards across the worldAviation analyst and founder of online publication Airspace Africa, Derek Nseko, told the BBC that “this is a much more sensible South African Airways and there is a lot of confidence to be gained from some of the measures that they have taken since the business rescue process ended”.Despite the fanfare around the return of SAA to intercontinental travel, the airline is still looking to build up its business within Africa, taking on 15 extra regional routes, along with four domestic ones by March 2025.”We are focused on generating many alliances. We have code shares with, for instance, Kenya Airways and other airlines on the continent, where we are working together to stimulate air travel in Africa,” Mr Lamola said.Referring to the clearance of historical debts, Mr Gordhan said that “all the muck has been cleared out, and the state has taken responsibility for that… to get operations that we see currently getting off the ground”.Many will be keen to see whether SAA will “rise from the ashes of state capture like a phoenix”.But it will be tough.”African airlines are still being projected to make a loss this year,” with airlines such as Air Zimbabwe also undergoing restructuring, analyst Mr Nseko told the BBC.Nevertheless, Ethiopian Airlines and EgyptAir have both said they have had a profitable year.Ethiopian Airlines, which is state-owned, offers a successful model that SAA could follow. It has diversified its operations, including cargo, maintenance, repair and training services to create multiple revenue streams.It has also focused on connecting regional destinations and capitalising on demand for intra-African travel. This strategy has helped the airline become one of the largest and most profitable in Africa.Turbulence aheadBut high operating costs made worse by rising inflation and currency devaluation threaten the ability of African carriers such as SAA to run profitably, as financiers and those prepared to lease aircraft see the African market as a risk.Additionally, inconsistent and complex regulatory frameworks in different African countries have been barriers of entry for airlines and investors on the continent.The African Union’s Single African Air Transport Market has tried to create a unified air transport market on the continent, but it remains a work in progress.However, SAA boss Mr Lamola argues that businesses must also step up and create solutions.”I think we have made a mistake of expecting the political authorities in our various countries to solve these problems. But really, they are business problems,” he said.”We need more aviation entrepreneurship in Africa, where innovative means have to be found. We need more concrete interventions of entrepreneurs who will be able to go out there and innovate on issues around financing.”While SAA’s new business strategy offers a promising future, the skies ahead will not be free of turbulence.”The African aviation landscape is extremely difficult and the jury is still out on what the future looks like for South African Airways,” said Mr Nseko.Related TopicsBusiness in AfricaSouth AfricaAir travelMore on this storyThe true cost of Africa’s expensive flightsPublished11 July 2023Waiting for take-off in West AfricaPublished25 May 2017One woman, 30 African countries, five lessonsPublished28 December 2017Around the BBCFocus on Africa podcastsTop StoriesThree US troops killed in Middle East drone attackPublished2 hours agoDisposable vapes to be banned over fears for children’s healthPublished3 hours agoBoys aged 15 and 16 killed in stabbing attackPublished7 hours agoFeaturesDeath of US troops ratchets up pressure on BidenThe bus route that costs £124 per passengerThe Papers: ‘Iran war’ fears and ‘two more teens killed’ BBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormCould the UK’s ‘pre-war generation’ become a citizen army?Elsewhere on the BBCHow are jelly beans made?Gregg Wallace visits a factory in Dublin that makes over ten million of the sweets per day!AttributioniPlayerIs this the greatest Jurassic predator that ever lived?Sir David Attenborough investigates a unique discovery: the skull of a giant, prehistoric sea monsterAttributioniPlayer’I smashed all my trophies’Bradley Wiggins opens up about his mental health and imposter syndromeAttributioniPlayerA Royle Family reunion and the best of the North!Ricky Tomlinson and Ralf Little set off on an epic camper van adventure across Northern EnglandAttributioniPlayerMost Read1Disposable vapes to be banned for child health2Three US troops killed in Middle East drone attack3Young drivers risk fraud to save on insurance cost4British base jumper dies after parachute fails5Boys aged 15 and 16 killed in stabbing attack6Special review into NHS trust which treated killer7’It’s a dream come true to work with Zayn Malik’8’Iran war’ fears and ‘two more teens killed’9Champions Chiefs beat Ravens to return to Super BowlAttributionSport10Passengers facing week of rail disruption

[ad_1] South African Airways is trying to rebuild its reputation after being plagued by corruption allegations.

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• January 28, 2024
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BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaIs Canada vulnerable to foreign interference?Published1 hour agoShareclose panelShare pageCopy linkAbout sharingImage source, Toronto Star via Getty ImageImage caption, Canadian member of parliament Michael Chong learned through media reports that China allegedly targeted himBy Nadine YousifBBC News, TorontoThe allegations kept mounting in Canada: Election-meddling by China, an Indian-backed assassination on home soil, and a campaign to harass Iranian dissidents. Is Canada especially vulnerable to foreign interference?Michael Chong said it did not take long for him to become a target of Beijing.In testimony before US lawmakers on Capitol Hill last year, the Canadian Conservative politician described how an alleged intimidation campaign against him was born after he spoke out against China’s human rights record in parliament.He said that a Chinese official in Canada began gathering details about his relatives living in Hong Kong shortly after, and that a smear campaign against him was launched on China’s most-popular social media platform, WeChat.”My experience is but one case of Beijing’s interference in Canada,” he said. “Many, many other cases go unreported and unnoticed, and the victims suffer in silence.”Canada launches inquiry into foreign interferenceThe alleged targeting of Mr Chong, which first became public when intelligence reports were leaked to Canadian media, unleashed a fierce debate in the country around its vulnerability to foreign interference and the safety of its citizens.On Monday, he and others will begin testifying before a public inquiry that will look into Beijing’s meddling in Canada, especially its alleged efforts to sway the country’s last two federal elections by backing certain candidates.China has denied any interference and the allegations have soured relations between Beijing and Ottawa. While the inquiry will focus on claims of election interference by China, Russia, India “and other foreign actors”, experts say the problem of foreign meddling in Canada is much more complex and widespread. Solving it, they say, demands a restructuring of the political and social DNA of the country, which has long-failed to prioritise matters of national security. “Generally speaking, we have been neglecting national security, intelligence, law enforcement, defence, and so on,” Thomas Juneau, a political analyst and professor at the University of Ottawa, told the BBC.While it is tough to determine whether Canada is uniquely vulnerable compared to its allies, Mr Juneau argued that other countries have done a far better job in addressing the issue.An outdated system that is slow to adaptOne glaring problem, Mr Juneau said, is the out-of-date act governing the Canadian Security Intelligence Service (csis). It is almost 40 years old, designed with the Cold War in mind, “when the fax machine was the new thing”, he said. Because of this, he said, the nation’s primary intelligence agency has been limited in its operations, focused on sharing information solely with the federal government.This means possible targets are often left in the dark. That was spotlighted by Mr Chong’s story. He only discovered that he had been an alleged target of Beijing through the media, despite csis having monitored threats against him for at least two years.Canada has since launched public consultations into how the law governing csis can be amended to better inform and protect individuals who could be a target.The source of Canada’s security complacency, argued Richard Fadden, a former csis director and national security advisor to two prime ministers, is that Canada has lived in relative safety, largely protected from foreign threats by its geography: the US to the south, and surrounded by three oceans.”I mean, nobody is going to invade Canada,” he said. Canada’s allies – like the US and Australia – have been quicker to adopt certain tools to help catch bad actors, such as establishing a registry of foreign agents and criminalising acts that can be classified as interference.In December, Australia convicted a Vietnamese refugee who was found to be working for the Chinese Communist Party, thanks to a law it passed in 2018 that made industrial espionage for a foreign power a crime.Such laws are not only important for charging and convicting culprits, but can also help educate the public and deter other nations from interfering, said Wesley Wark, a leading Canadian historian with expertise in national security.Diaspora groups are especially vulnerableMr Wark said the country’s diverse population has also made it a convenient target for foreign states.”We are a multicultural society and we have gone to great lengths over decades to preserve and protect that,” he said.But diaspora groups, especially those vocally opposed to the government of their country of origin, have naturally become a target.British Columbia lawyer Ram Joubin has had a first-hand look at the threats facing dissidents in Canada, particularly those from Iran. While investigating people with ties to the Iranian regime who call Canada home, Mr Joubin said he has heard from Iranian-Canadians who say they have been followed and harassed by regime agents in their own communities.”We’ve had death threats, knock-on-the-door type of death threats,” he said. “And then we have a lot of people with their families in Iran being threatened because they engaged in some sort of activism.”Csis has previously said it is aware of alleged intimidation attempts. The Iranian government has not commented publicly on these allegations. In Mr Joubin’s experience, reporting these incidents to officials like the Royal Canadian Mounted Police (RCMP) has been a challenge, especially when additional work is needed to establish a credible criminal or civil case.Both the RCMP and csis were criticised after the murder of Hardeep Singh Nijjar, a Sikh separatist that was killed in June in British Columbia, which Canada has alleged was done with the involvement of Indian government agents – something India denies. Prior to his death, Mr Nijjar had said that police were aware he was a target of an assassination plot. Questions were raised about whether something could have been done to stop his killing after the FBI said it was able to foil a similar assassination plot in November against another Sikh separatist leader in New York City. Image source, Bloomberg via Getty ImagesImage caption, Richard Fadden says Canada is only now coming to terms with its vulnerability to foreign meddlingMr Fadden said the events of 2023 represented a seismic shift in Canada’s psyche, forcing the country to finally confront the issue of foreign interference.”Despite a deep reluctance on the part of the government to hold a foreign inquiry, they were compelled to do it,” Mr Fadden said. “I think if there hadn’t been that shift, we wouldn’t have an inquiry.”The inquiry, led by Quebec appellate judge Marie-Josée Hogue, will be conducted in two phases, ending with a final report in December that will include recommendations on what Canada can do to deter future interference.Some have expressed concern about the inquiry’s short mandate, and whether its recommendations will be wide-ranging enough and implemented as Canada inches closer to an election year that could see a change in government.But in the meantime, Mr Fadden and others said they believe urgent action is needed.”There are two big issues: there’s interference in our elections,” Mr Fadden said. “But there’s also interfering and scaring members of the diaspora in this country, which is a very serious matter.””We have a responsibility to protect people who are in Canada, and I don’t think we’re doing as good of a job on this as we could be.”Related TopicsChinaCanadaMore on this storyCanada launches inquiry into foreign interferencePublished7 September 2023US must work with Canada to stop China meddling – MPPublished13 September 2023The long fight for justice over downed plane in IranPublished8 January 2023Top StoriesThree US troops killed in Middle East drone attackPublished4 hours agoDisposable vapes to be banned over fears for children’s healthPublished8 minutes agoPost Office chairman had to go – BadenochPublished3 hours agoFeaturesBBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormWho invented butter chicken? 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[ad_1] A public inquiry launching on Monday could be a reckoning in the country on national security matters.

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