
Is Sri Lanka Turning the Page on Its Violent Past?
The 26-year civil war between the separatist Liberation Tigers of Tamil Eelam and the government ended in May 2009 without any real attempt to investigate abuses or heal fractured communities. The military has not been held accountable for the atrocities they committed — including torture, rape, extrajudicial killings and enforced disappearances. The LTTE leadership died in battle or were executed, so their use of summary killings, bombings, abductions and child soldiers will never be investigated.
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China offers parents £375 per child to tackle declining birth rate
China will offer parents an annual childcare subsidy of 3,600 yuan (£376) in an effort to arrest the country's declining birth rate. The scheme, announced on Monday, will cover all children under three. It will apply retroactively from 1 January 2025, but families with children born between 2022 and 2024 can also apply for partial subsidies, Xinhua news agency reported. According to the National Health Commission, the nationwide subsidy is expected to benefit nearly 20 million families. The subsidies will not be treated as taxable income or counted when determining eligibility for poverty assistance. The National Bureau of Statistics reported earlier this year that China's population had fallen for the third consecutive year in 2024. It had declined by 1.39 million to 1.408 billion as deaths continued to surpass births. In 2023, the population had fallen by 2.08 million. The fall was double the previous year's, which marked the first population drop in 60 years. China's birth rate has been declining for decades, driven by the 'one child policy' implemented from 1980 to 2015 and rapid urbanisation. The 'one child policy' has also resulted in a skewed sex ratio due to a cultural preference for male children. Marriages have also witnessed a decline, with 6.1 million marriage registrations nationwide in 2024 compared to 7.7 million the previous year. The subsidy scheme follows regional experiments with childcare incentives in over 20 provinces. Inner Mongolia's capital city of Hohhot introduced a policy in March for parents to get up to 10,000 yuan (£1,045) in annual subsidy until the third child turned ten, along with daily free milk for new mothers and an electronic voucher worth 3,000 yuan (£313) for dairy products. In cities like Shenyang or Changchun, subsidies range from 1,800 to 3,600 yuan (£188-376) per child. Some regions offer one‑off birth bonuses as well. 'Although the subsidies don't cover all childcare costs, they help with essentials like baby formula and diapers, easing the financial burden,' a woman named Ma Ying from Guyuan in Ningxia told Xinhua. Critics, however, say that declining fertility rates are not just an issue of finances. The high cost of childcare and education, job uncertainty and a slowing economy are discouraging young Chinese men and women from marrying and starting families, demographers argue. They also point to gender discrimination and traditional expectations for women to manage the household as contributing factors to the declining birthrate. 'Without sustained structural investment in areas like affordable childcare, parental leave, and job protections for women, the effect on fertility is likely to remain minimal,' demographer Emma Zang, a professor at Yale University, told Reuters. To promote a more 'fertility friendly society', the southwestern province of Sichuan has proposed extending marriage leave from five to 25 days and increasing maternity leave from 60 days to 150 days.
Yahoo
2 hours ago
- Yahoo
US-Japan trade deal guarantees lowest tariff rates for chips, pharma, Japanese official says
By Makiko Yamazaki TOKYO (Reuters) -Japan's leading trade negotiator said on Tuesday that the trade deal Tokyo agreed with the United States last week guarantees Japan will always receive the lowest tariff rate on chips and pharmaceuticals of all the pacts negotiated by Washington. "If a third country agrees with the United States on lower rates on chips and pharmaceuticals, those lower rates would apply to Japan," Ryosei Akazawa told a news conference. The European Union secured a 15% baseline tariff as part of a framework trade deal with the U.S. this week, averting looming new tariffs on chips and pharmaceuticals. Japan last week struck a trade deal with the U.S. that lowers tariffs on cars and other goods to 15% in exchange for a U.S.-bound $550 billion Japanese investment package including equity, loans and guarantees. Asked why there has been no joint statement on the agreement, Akazawa said Japan is prioritising having President Donald Trump sign an executive order to bring the agreed 15% tariff rate into effect. "We want to concentrate our efforts on getting the tariffs lowered first, and then we can consider whether an official document on the agreement is necessary," he said.
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2 hours ago
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Singapore director is liable for US$654 million after Ponzi scheme
By Chanyaporn Chanjaroen (Bloomberg) – Two former directors of the insolvent Envy Group of companies are liable to investors for as much as US$654 million lost in a nickel-trading scam and Singapore's largest-ever Ponzi scheme, the High Court ruled. Lee Si Ye, a former Envy director and shareholder, is liable for the entire sum comprising S$593 million ($461 million), $192.2 million and 880,000 euros ($1 million), according to a court ruling published Tuesday. Ju Xiao, another former director and trading head, is liable for up to 40% of the total amount. Ng Yu Zhi, the 'apparent protagonist and mastermind of the entire Ponzi scheme' who held at least 80% to 90% of Envy companies, was not part of the proceedings because he had already been deemed bankrupt, according to the ruling. The 2021 arrest of Ng, now 38, became a public spectacle in Singapore amid reports about his lavish spending after raising almost S$1.5 billion from hundreds of clients including high-profile lawyers. The former accountant allegedly spent hundreds of millions to fund his opulent lifestyle, buying mansions, fast cars and high-end jewelry. 'The outcome was a truly shocking one: a billion-dollar fraud perpetuated on all and sundry, from the common man on the street to sophisticated investors who were seduced by the apparent attractive returns,' Judicial Commissioner Mohamed Faizal wrote in conclusion. Liquidators of Envy Global Trading, Envy Asset Management and Envy Management Holdings sought to recover investors' monies. Ng's Envy Group offered investments in nickel trading and touted average quarterly gains of 15%. The prosecution said the scheme was 'pure fiction.' Ng has remained on remand since Jan. 31, 2024, according to the court. Cheong Ming Feng, an administrative executive at Envy, is liable for S$1.9 million less his salary payments and contributions to the national pension fund. More stories like this are available on ©2025 Bloomberg L.P.