Donald Trump Indicted; 1st US Ex-president Charged with Crime
Donald Trump was indicted by a Manhattan grand jury, prosecutors and defense lawyers, making him the first former US President to face a criminal charge and jolting his bid to retake the White House next year (2024).
The charges remained under sealed, but the investigation centered on payments made during the 2016 presidential campaign to silence claims of an extramarital sexual encounter.
Trump, who has denied any wrongdoing and has repeatedly assailed the investigation, called the indictment "political persecution" and predicted it would damage Democrats in 2024.
United Arab Emirates Launches National Genome Strategy
The UAE launched its National Genome Strategy, which aims to provide a comprehensive legislative and governance framework to support the development and implementation of genomic programs. The strategy will last ten years and will focus on delivering public health priorities while improving the country's well-being.
The Emirates Genome Council, which was established in 2021, will oversee the National Genome Strategy. The council made significant progress in laying the groundwork for regulatory, research, technological, and medical institutions to connect, collaborate, and develop high-quality medical applications and services. The Emirati Genome Program is considered one of the most comprehensive genomic initiatives in the world and will advance the nation's preventive and personalized healthcare agenda as it collaborates with research and medical institutions across the UAE. The program aims to collect one million samples nationwide and currently contains whole genome sequencing data from around 400,000 citizens.
Ruling Parties in Nepal Agree on Power Sharing
Nepal's ruling coalition agreed on a power-sharing deal, paving the way for Prime Minister Pushpa Kamal Dahal 'Prachanda' to expand his cabinet.
The top leaders of the ten ruling parties held two rounds of meetings at the Prime Minister's official residence to reach an agreement on the distribution of ministries among various political parties.
Power sharing and the distribution of ministerial portfolios were major bottlenecks among the members of the ruling alliance as the demand for cabinet posts was exceeding the number of ministries available.
Among the ten parties, which took part in the talks, nine are likely to join the council of ministers.
Mar 31, 2023
Passport Index Points: India Ranks at 144th Spot in 2023
According to the latest update from the Passport Index, India's Mobility Scores decreased, resulting in the country experiencing the largest global drop on the Index this year (2023). Prior to the pandemic in 2019, India had a mobility score of 71, which increased to 73 in 2022 as the post-pandemic wave of increasing mobility took effect. However, as of March 2023, its mobility score dropped to 70. This decline occurred despite record increases in mobility as the global and national economies re-opened after the pandemic. India's ranking fell by six places in 2023, resulting in an individual ranking of 144 compared to 138 in 2022.
After FATF, European Union Removes Pakistan from List High-Risk Third Countries
The EU removed Pakistan from its list of "High-Risk Third Countries" that do not have a robust anti-money laundering and countering terrorist financing regime, a move welcomed by Prime Minister Shehbaz Sharif as a major development which would facilitate the cash-strapped country's businesses.
The developments came as a much-needed breather when Pakistan faces an economic crisis.
Pakistan was included on the list in 2018, placing the country under additional regulatory restrictions.
The list includes countries that the European Union considers to have strategic deficiencies in their anti-money laundering and counter-terrorism financing frameworks.
Mar 30, 2023
Saudi Arabia Joind Shanghai Cooperation Organization
Saudi Arabia's cabinet approved a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns.
The SCO is governed by the Heads of State Council (HSC), its supreme decision-making body, which meets once a year.
Russian and Chinese are the official working languages of the SCO.
The SCO currently comprises of eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan
Iran signed documents for full membership in 2022.
Saudi Arabia approved a memorandum on granting the kingdom the status of a dialogue partner in the Shanghai Cooperation Organization (SCO).
The SCO is a political and security union of countries spanning much of Eurasia, including China, India and Russia.
Formed in 2001 by Russia, China and former Soviet states in Central Asia, the body has been expanded to include India and Pakistan, with a view to playing a bigger role as counterweight to Western influence in the region.
Sergio Ermotti Returns as UBS CEO
UBS Group AG (UBSG.S) rehired Sergio Ermotti as CEO to steer its massive takeover of neighbour Credit Suisse (CSGN.S) - a surprise move to take advantage of the Swiss banker's experience rebuilding the bank after the global financial crisis.
The trader turned corporate problem fixer faces the tough challenge of laying off thousands of staff, cutting back Credit Suisse's investment bank and reassuring the world's wealthy that UBS remains a safe harbour for their cash.
Ermotti, who was chief executive of UBS from 2011 to 2020 and is now chairman of Swiss Re (SRENH.S), will take the helm from April 5. He is credited with executing UBS's turnaround after a series of scandals and losses nearly caused the bank's implosion.
Indian-origin Sikh Woman Becomes Connecticut's First Asian Assistant Police Chief
Lt. Manmeet Colon, who is of Indian origin and a Sikh woman officer, took up the position of assistant police chief in the state of Connecticut, becoming the first-ever person of Asian descent to hold the position. She has been a member of the New Haven Police Department (NHPD) for 15 years and was appointed as the city's third assistant police chief in an official ceremony.
The ceremony marked "another glass ceiling being broken," Board of Police Commissioners Chair Evelise Ribeiro said, noting that Colon, a native of Mumbai, is the department's second-ever female assistant chief of colour and its first Indian assistant chief.
Mar 29, 2023
EU Countries Approve 2035 Phase-out of CO2-emitting Cars
European Union countries gave final approval to a landmark law to end sales of new CO2-emitting cars in 2035, after Germany won an exemption for cars running on e-fuels.
The approval from EU countries' Energy Ministers means Europe's main climate policy for cars can now enter into force, after weeks of delay caused by last-minute opposition from Germany.
The EU law will require all new cars sold to have zero CO2 emissions from 2035, and 55% lower CO2 emissions from 2030, versus 2021 levels. The targets are designed to drive the rapid decarbonisation of new car fleets in Europe.
Greek PM Calls General Election in May
Greece's centre-right PM Kyriakos Mitsotakis called general election on May 21 as his party's long-standing lead in opinion polls declined in the aftermath of the country's worst train disaster. A February 28, 2023 collision between two trains left 57 dead. The disaster stirred public anger, cutting the conservative New Democracy party's support by a half-point to 4 points over Syriza party.
ADB, Maldives Sign $41mn Financing Package to Support SMEs, Tourism
The Asian Development Bank (ADB) signed a $41 million financing package with the Bank of Maldives (BML) to support locally owned small and medium-sized enterprises (SMEs) and tourism.
As the sole mandated lead arranger and bookrunner, the Manila-based ADB arranged, structured, and syndicated the entire financing package, comprising a loan of up to $13 million from the ADB's ordinary capital resources, a parallel loan of up to $13 million from the Japan International Cooperation Agency, and a parallel loan of up to $5 million from the Development Bank of Austria.
To improve development impact and to address bankability issues relating to blue economy transactions in Maldives, the ADB said it blended the project's debt financing with a concessional loan of up to $9 million from the Canadian Climate Fund for the Private Sector in Asia II (CFPS II) and a grant of up to $1 million from the ADB's Asian Development Fund (ADF)-Private Sector Window (PSW).
Mar 28, 2023
Hungary Parliament Backs Finland's NATO Accession
Hungary's parliament approved a bill to allow Finland to join NATO once its application has been ratified by all 30 members of the alliance, ending months of foot-dragging by the ruling Fidesz party on the matter.
Finland and Sweden had asked to join the trans-Atlantic military alliance last year (2022) in response to Russia's invasion of Ukraine. But the process was held up by Turkey and Hungary.
Although Finland's bid was approved, the Swedish bill is still stranded in the Hungarian parliament.
Saudi National Bank Chair Resigns after Credit Suisse Buyout
The chairman of Saudi National Bank, which was the main shareholder of Credit Suisse before its buyout, resigned.
The Saudi bank's board of directors accepted the resignation of Ammar AlKhudairy due to personal reasons.
Saeed Mohammed Al Ghamdi, who had been serving as CEO, will replace AlKhudairy as chair.
Talal Ahmed Al Khereiji was appointed acting CEO.
Humza Yousaf Wins Contest to Become Scotland's New Leader
Humza Yousaf, a South Asian-origin politician, was picked to replace Nicola Sturgeon as head of the Scottish National Party (SNP). Yousaf netted 52 per cent of the final votes of SNP members.
Yousaf defeated rivals Kate Forbes and Ash Regan in a leadership contest that exposed deep divisions within the party.
Yousaf is the first Muslim to lead a major UK party.
He is set to be confirmed as the first ethnic minority leader of a devolved government.
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