Day: September 10, 2024

Tokyo: A former accountant of a faction within Japan’s ruling Liberal Democratic Party (LDP) on Tuesday received a two-year prison sentence, suspended for five years, for underreporting income from fundraising events.

Hitoshi Nagai, 70, was responsible for accounting in the faction previously led by Toshihiro Nikai, a former LDP secretary general. The Tokyo District Court issued the verdict on Tuesday, following Nagai’s admission of guilt during his initial hearing in June.

According to the indictment, Nagai failed to report about 380 million yen (2.7 million U.S. dollars) in income and expenditures over five years up to 2022.

Despite his actions, Nagai’s defense argued that he was not motivated by personal gain, which contributed to the court’s decision to suspend the sentence.

At the end of last year, the LDP’s slush fund scandal unfolded and five major factions, including Nikai’s, were suspected of paying kickbacks to member lawmakers who sold fundraising party tickets above their quota without recordi
ng the amount as revenue in its political fund reports.

Local media reports showed that prosecutors earlier this year indicted 11 individuals, including accountants and lawmakers, on suspicion of failing to report political funds.

Source: The Namibia News Agency

Colombo: Sri Lanka cabinet approved a proposal to establish a financial stability fund with an initial allocation of one billion Sri Lankan rupees (3.3 million U.S. dollars), the government’s information department said on Tuesday.

President Ranil Wickremesinghe presented the proposal to the cabinet seeking approval to establish the fund, the department said.

The Central Bank of Sri Lanka has recognized that strengthening the bank resolution framework should be given urgent priority under the crisis management framework of the financial institutes regulated by it, the department said.

A financial stability fund should be established to ensure the fulfillment of resolution objectives under the Banking (special provisions) Act and to implement the resolution procedures provided by it effectively, according to the department.

Sri Lanka is expected to obtain a loan amount of 200 million U.S. dollars this year under the stability and reform program in the financial sector, which is funded by the Asian Developm
ent Bank.

Source: The Namibia News Agency

Beijing: China’s top legislature on Tuesday started a regular session to review a raft of bills including a draft revision to the National Defense Education Law and a draft amendment to the Statistics Law.

Zhao Leji, chairman of the 14th National People’s Congress (NPC) Standing Committee, presided over the first plenary meeting of the committee’s 11th session.

Lawmakers reviewed the draft revision to the National Defense Education Law. The draft highlights better incorporating military service education into national defense education on campus, among other stipulations.

Lawmakers deliberated on a draft amendment to the Statistics Law. It makes stipulations on promoting the integration of modern information technologies with statistics work.

The meeting reviewed a draft revision to the Law on the Prevention and Control of Infectious Diseases. It improves stipulations on the monitoring, reporting and early warning of infectious diseases, among others.

The meeting deliberated on a draft energy law, which
further stresses promoting a green and low-carbon energy transition.

Lawmakers reviewed a draft revision to the Anti-Money Laundering Law. The draft steps up the monitoring of the new risks of money laundering.

Lawmakers deliberated on a draft public health emergency response law, a draft national park law, and a draft amendment to the Supervision Law.

The meeting also reviewed a draft decision on conferring national medals and honorary titles on the occasion of the 75th anniversary of the founding of the People’s Republic of China, a draft decision on gradually raising the statutory retirement age, and several international treaties.

The meeting deliberated on a report on the implementation of the plan for national economic and social development since the beginning of this year. The overall implementation of the plan has been going well over the period, with new positive progress made in high-quality development. The economy and overall national strength have continued to grow, according to the report.

L
awmakers reviewed a report on budget execution since the beginning of this year. Fiscal operations have remained generally stable, and budget execution has been largely balanced over the period, says the report.

Lawmakers deliberated on a 2023 report on the management of government debts. This is the first time the NPC Standing Committee has heard and reviewed the State Council’s report on government debt management since the establishment and improvement of a reporting system.

The meeting reviewed a report on promoting childcare services, a report on advancing elderly care services and improving the care for the incapacitated elderly, and a report on the enforcement of the Agriculture Law.

The meeting also reviewed personnel-related bills, among others.

Source: The Namibia News Agency

Kuala lumpur: Malaysia, the world’s second-largest palm oil producer, has reported higher palm oil stocks in August amid higher production and lower exports.

The industry regulator Malaysian Palm Oil Board (MPOB) data showed on Tuesday that Malaysia’s palm oil stockpile stood at 1.88 million tons in August, up 7.34 percent from previous month.

Meanwhile, crude palm oil production climbed 2.87 percent month on month to 1.89 million tons in August.

Malaysia’s palm oil exports, however, fell 9.74 percent month on month to 1.53 million tons during the month.

Its palm oil imports also declined by 4.9 percent month on month to 9,970 tons.

Source: The Namibia News Agency

Vientiane: A national tour guide training course kicked off in Lao capital Vientiane, which aims to produce more qualified personnel to support tourism growth in Laos and address the shortage of skilled workers in this field.

The course takes place from Sept. 9 to Nov. 29, with participants receiving training in ethical standards and how to satisfactorily lead groups of people to various locations and provide them with a high level of service, Lao National Radio reported on Tuesday.

The course aims to produce a cohort of tour guides equipped with the necessary knowledge and skills and can demonstrate respect for Laos’ culture and the country’s many attractions, both historical and religious.

Lao Deputy Minister of Information, Culture and Tourism Dalany Phommavongsa said tourism is on an upward trend this year and is making a steady recovery after the COVID-19 pandemic.

Tourism-related businesses have gained confidence in the stability of the tourism industry and are accelerating the expansion of new mark
ets, focusing on green tourism and greater participation by local people.

The training also teaches participants about the special attributes needed to provide an acceptable standard of service so that visitors have a good experience, are impressed, and want to return to Laos, said Dalany.

In a bid to bolster tourist numbers during Visit Laos Year 2024, the government has approved visa-free entry and extended the duration of stay for tourists from certain countries.

Source: The Namibia News Agency

Kuala lumpur: Malaysia’s industrial production index (IPI) expanded by 5.3 percent year-on-year in July, driven by strong growth in the manufacturing sector output, official data showed Tuesday.

The Department of Statistics Malaysia (DOSM) said in a statement that the manufacturing output rose 7.7 percent, while the electricity output grew 7 percent.

Meanwhile, the mining sector declined by 5 percent.

Both export-oriented and domestic-oriented industries performed favorably in July by recording 7.8 percent and 7.5 percent growths, respectively.

In comparison with the preceding month, the IPI dropped by 1.5 percent from 4.8 percent growth in the previous month.

For the first seven months this year, the IPI improved by 4.1 percent year on year, with all sectors posting increases, including the mining index by 2.9 percent, the manufacturing index by 4.1 percent and the electricity index by 7.1 percent.

Source: The Namibia News Agency