Singapore charged three in a major money laundering case. Ukraine’s Russia incursion sees early wins but risks overextension. U.S. inflation dips, Japan’s economy grows, MPOX cases rise, Apple opens tap-to-pay, North Korea reopens to tourists, and Japan’s PM faces low public support.
Singaporean authorities charged two relationship managers and a driver for assisting in a billion-dollar money laundering operation.
Relationship managers Wang Qiming and Liu Kai, both Chinese nationals, and driver Liew Yik Kit, a Singaporean, were involved in helping convert illicit funds into wealth held in Singapore.
Liew Yik Kit worked as a driver for Su Binghai, who is now a wanted individual in the case.
Ukraine’s Incursion into Russia Marks a Bold Move
Ukraine launched a surprise incursion into Russia, marking the first invasion of Russian territory since World War II.
The offensive has yielded early successes, including the capture of settlements and hundreds of Russian prisoners.
Ukraine’s goal is to draw Russian forces away from Donbas, but Russia has not yet diverted significant troops from that front.
The incursion carries risks, as extended supply lines and potential counterattacks could overextend Ukraine’s forces and reverse gains in Donbas.
Analysts suggest Ukraine should consolidate its gains in Kursk and use any defensible areas as leverage in future negotiations.
World in Brief
U.S. Inflation: Annual inflation in America dropped to 2.9%, down from 3% in June, increasing the likelihood of Federal Reserve rate cuts.
WHO on MPOX: WHO warned of a 160% rise in MPOX cases, now affecting over 12 African countries beyond the DRC.
Japan’s Economic Growth: Japan’s economy grew at an annualized rate of 3.1% in Q2, driven by private consumption, following a 2.9% contraction in Q1. The Bank of Japan raised interest rates to 0.25% in late July.
Apple Opens Tap-to-Pay: Apple will allow third-party access to its tap-to-pay technology after facing regulatory pressure, with developers set to pay for access to the payment chip.
North Korea Tourism: North Korea plans to reopen to international tourists in December, following strict border closures since 2020 due to COVID-19. International flights resumed last year.
Japanese Public Opinion: 80% of Japanese voters reportedly do not want Prime Minister Fumio Kishida to continue, as his approval plummets amid resignation plans.
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