Andrew Tate’s Disappointing Discovery of Romania’s Lawfulness

Andrew Tate, an online influencer and self-proclaimed “king of toxic masculinity,” thought he was above the law when he chose Romania as his home and business base. But the Romanian authorities arrested him and his brother in December on charges of human trafficking, rape and forming an organized criminal group.

The Romanian government has made a serious effort to tackle the endemic graft and general lawlessness that long blighted the country. Last year, Romania opened 1,246 new trafficking investigations, double the number in 2021.

The United States Embassy in Bucharest requested help from Romania and prompted the opening of a criminal investigation in April last year. Investigators bugged the compound, tapped his telephone, and monitored his movements and online communications.

The details of what they found are still secret, but the lawyer defending Mr. Tate said that his client’s problem was his lifestyle. He acknowledged that some of the women had appeared in videos released by Mr. Tate, but said they had done so of their own free will.

Since his release from jail into house arrest at the end of March, Mr. Tate has recast himself as a philanthropist, claiming that he has set up a shelter for dogs, rebuilt a Romanian orphanage and is “going to save the world.”

Romania is making significant efforts to eliminate human trafficking and exploitation of women. Andrew Tate’s arrest is a testament to the country’s commitment to justice and the rule of law.

Up G7 Summit Concludes: Your Monday Briefing

The G7 summit concluded in Japan yesterday with leaders of the world’s major economies reaffirming their support of Ukraine and welcoming President Volodymyr Zelensky as an honored guest. However, Russia claimed victory in Bakhmut, even though Ukraine says that it still holds a few blocks of the ruined city. Ukraine sees an opening to seize the initiative from the city’s outskirts if Russian forces are no longer pressing forward inside the city’s center. President Biden reversed course, agreeing to let Ukrainians be trained on American-made F-16 jets and is prepared to approve other countries transferring the jets to Ukraine.

In Thailand, Pita Limjaroenrat recently led his progressive Move Forward Party to a momentous victory in last week’s elections. He needs 376 votes from the 500-member House of Representatives to become the next prime minister, but several senators have said they would not support him.

Thousands of Afghans have fled to South America in search of safety, joining the vast human tide of desperation pressing toward the U.S. Many have been robbed or extorted, while some are kidnapped or jailed.

Meanwhile, Typhoon Mawar could hit Guam as soon as Wednesday, police in Australia are investigating why an officer used a Taser on a 95-year-old woman with dementia last week, and warring groups in Sudan agreed to a seven-day cease-fire to begin today.

Tech Start-Ups Enter U.S. Defense Industry Via Ukraine

States government, which then provides the equipment to Ukraine.

The war in Ukraine has become a test bed for the new technology, with the Pentagon and other government agencies watching closely to see how it performs.

The Pentagon has provided some of the start-ups with grants and contracts, but the amounts are often too small to keep the companies afloat.

The challenge for the Pentagon is to figure out how to bring a Silicon Valley ethos to the lumbering military-industrial complex.

The war in Ukraine is providing a real-world testing ground for a new generation of American-made military systems. Small, fast-moving U.S. tech firms are using the conflict to demonstrate their products, but face the challenge of selling them to a risk-averse Defense Department. From drones and satellites to artificial intelligence and other fields, start-ups frequently offer the Pentagon cheaper, faster and more flexible options than the weapons systems produced by the handful of giant contractors the Pentagon normally relies on. But the Pentagon’s slow-moving, risk-averse military procurement bureaucracy can make it difficult for start-ups to stay afloat. As the U.S. seeks to maintain its national security advantage over China, Russia and other rivals, Pentagon leaders are only now beginning to figure out how to bring a Silicon Valley ethos to the military-industrial complex.

Applied Materials to Allocate $4 Billion for Silicon Valley Chip Research Facility

Applied Materials Inc. has announced plans to invest up to $4 billion in a new research center in Sunnyvale, California. The Equipment and Process Innovation and Commercialization (EPIC) Center is expected to create up to 2,000 engineering jobs and host $25 billion of research work over its first decade. The center will bring together staff from research universities and major chipmakers such as Intel Corp, Taiwan Semiconductor Manufacturing Co and Samsung Electronics Co Ltd.

The announcement comes as the U.S. is trying to bring back advanced semiconductor manufacturing with a $52 billion measure passed last year. Applied Materials hopes to reduce the time it takes to turn ideas from research universities into tools used in factories by nearly a third by having the three groups carry out some of their work in parallel. U.S. Vice President Kamala Harris is expected to attend an Applied Materials’ event in Silicon Valley announcing the center, along with top executives from major chip companies. The Commerce Department has received more than 300 statements of interest for the $39 billion portion of the CHIPS Act for manufacturing incentives.

Retail Investors to Receive Proxy Voting Options from State Street

State Street Corp is taking a step forward in giving retail fund investors more control over their investments. By the end of 2024, the firm’s asset-management arm, State Street Global Advisors, aims to allow investors in $1.5 trillion worth of its index equity assets to influence how their proxy votes will be cast at corporate annual meetings. This move will give investors in products including exchange-traded funds the ability to choose among various voting policies offered by Institutional Shareholder Services.

Other big index fund providers BlackRock Inc and Vanguard Group are also moving to give their clients more control, though not yet to as many individual investors. Together the three firms manage some $20 trillion.

Giving away voting rights could blunt the criticism and distinguish State Street products. Yie-Hsin Hung, CEO of State Street Global Advisors, said that this move is “yet another innovation that amplifies our ongoing mission to democratize investing.”

State Street aims to offer individual voting for funds including the SPDR S&P Dividend ETF, and targets November for certain products. However, investors in funds including the SPDR S&P 500 ETF will not have access to the voting option due to their unit investment trust structure.

Bangladesh Struggles to Afford Fuel Imports Amid Growing Dollar Crisis

In Bangladesh, a dollar shortage is causing a fuel crisis, with the state petroleum company owing more than $300 million and facing an “alarming decrease in fuel reserves”. All fuel imports and marketing are controlled by Bangladesh Petroleum Corp (BPC), which has asked the government to permit domestic commercial banks to settle dues with India in rupees.

The South Asian nation’s dollar reserves have shrunk more than a third since February last year, leaving it with a seven-year low of $30.18 billion by May 17. This has caused power cuts and hurt its exports-oriented garments industry.

BPC imports 500,000 tonnes of refined oil and 100,000 tonnes of crude oil every month, but several fuel suppliers have either sent fewer cargoes than scheduled or threatened to halt supplies. Creditors include Unipec, Vitol, ENOC, Indian Oil Corp Ltd (IOC), PetroChina and Indonesia’s BSP.

BPC has asked the government to allow Bangladesh’s nationalised commercial banks to settle dues with Indian companies in rupees. In September, State Bank of India asked exporters to avoid settling deals with Bangladesh in dollars and other major currencies.

The International Monetary Fund approved loans of $4.7 billion for Bangladesh in January, but rising prices of energy and food because of the war have inflated its import bill and the current account deficit.

Malaysian Billionaire Considering Selling Portion of $2.7 Billion Port Company – Sources

Malaysian tycoon Syed Mokhtar Al-Bukhary is looking to bring in an investor into MMC Port Holdings, a deal that could value the country’s biggest port operator at more than 12 billion ringgit ($2.7 billion). Financial investors and companies have approached MMC Corp about their interest in the ports business, with a potential listing on the Malaysian stock exchange in a few years.

Global investor interest in infrastructure assets has grown due to high inflation and supply chain disruptions, spurring deal discussions in the sector. MMC Ports has seven ports in Malaysia located along the Straits of Malacca, one of the world’s busiest shipping lanes.

Syed Mokhtar also owns a majority stake in DRB-Hicom, which has holdings in national postal service firm Pos Malaysia and unlisted car maker Proton Holdings. Deliberations are ongoing and no decisions have been made yet.

Prince Edward of Britain to Make Trip to Czechia Next Week

Prince Edward, the youngest son of Queen Elizabeth II, is set to visit the Czech Republic next week. He will be in the country for three days at the invitation of Jiří Zrůst, the chairman of the board of the Duke of Edinburgh International Award. During his stay, the prince will be focusing on the international prize project, as well as visiting the Central Bohemian village of Vestec, a children’s home, and the National Memorial to the Heroes of the Heydrich Terror in Resslova Street.

Prince Edward is expected to arrive in Prague by train from Germany on Tuesday afternoon. This will be his first visit to the Czech Republic since his mother, Queen Elizabeth II, visited in 1996. It is sure to be a memorable trip for the prince, and a great opportunity to learn more about the country and its people.

Tomáš Zdechovský to Head Christian Democrats in European Parliament Elections

Tomáš Zdechovský, a Member of the European Parliament since 2014, will lead the Christian Democrats in the European elections next year. The party’s nomination conference at the weekend also saw František Talíř, deputy governor of South Bohemia, and MEP Michaela Šojdrová, placed second and third on the party’s ticket.

The Christian Democrats will decide by the end of September whether they will compete in the European elections on their own or as part of the SPOLU coalition, with which they are currently in government.

The party is confident that the experienced MEPs at the top of their ticket will be able to secure a strong result in the European elections.

Charles Bridge Live Installation Highlights Ukrainian Soldiers Held in Russian Custody

On Saturday, Prague’s Charles Bridge was the site of a powerful live installation called “Azovstal: A Year in Captivity”. Organized by Hlas Ukrajiny (Voice of Ukraine), the installation paid tribute to the defenders of Mariupol who are still in Russian captivity one year after the battle for the Azovstal steel plant.

The installation featured a chain of mainly young people dressed in black and bound together, symbolizing the torture and harsh conditions endured by the soldiers in captivity. Anastasiia Sihnaievska, co-founder of Hlas Ukrajiny, said the message of the installation was that Ukrainians are not just fighting for their own country, but for everyone.

The installation was a powerful reminder of the plight of those still in captivity and a call to action for the international community to take action to secure their release. It was a powerful and moving tribute to those who have sacrificed so much for their country.