South Korea Seeks to Increase Birth Rate, Except in Certain Areas

In South Korea, the birth rate is the lowest in the world, and many young couples are choosing not to have children due to the rising costs of child care and housing, job scarcity, and growing anxiety about the future. To make matters worse, hundreds of public establishments across the country have designated themselves as “no-kids zones”, banning children from entering.

Recently, a lawmaker took her toddler to the National Assembly and called on the government to outlaw the policy. She argued that getting rid of no-kids zones and creating a society more accepting of children would help the country overcome its low birthrate.

Public opinion on child-free zones suggests that most South Koreans support them. Supporters of the policy say that children can be a disturbance to customers, and that the zones help prevent accidents and property damage as well as injuries to young children.

However, the push to get rid of no-kids zones is gaining momentum. Last week, the health and welfare safety committee on Jeju Island deliberated an ordinance that would abolish no-kids zones island wide. If it passes, it will be the first law of its kind in South Korea.

It remains to be seen whether the government will take action to make it easier for families to have children. But for now, it is clear that South Korea needs to create a more family-friendly environment if it wants to increase its birthrate.

Six Dead in Wellington Hostel Fire

At least six people have been killed in a devastating fire that broke out overnight Tuesday in a hostel in Wellington, New Zealand. The cause of the fire is still unknown, and 11 people remain unaccounted for. The hostel had no sprinklers and the fire alarm did not go off automatically. More than 50 residents were accounted for, and five more were rescued from the roof of the four-story building. Four people were hospitalized, one of whom was in serious condition. The hostel’s residents included workers at a nearby hospital, people who had recently been homeless, and New Zealanders who had been deported from Australia. The blaze was a “once in a decade” event for the city, said Nick Pyatt, the fire and emergency district manager for Wellington. Our thoughts and prayers are with the victims and their families during this difficult time.

Asian Markets Surge as Debt Ceiling Worries Subside, Sony Lifts Nikkei Index

Asian stock markets rose on Thursday, with the Nikkei 225 index hitting a 20-month high, as optimism grew that the U.S. debt ceiling will be raised. The Nikkei rose 1.54%, supported by a near 6% rise in the shares of Sony Corp (TYO:6758) after the firm said it was considering spinning off and listing its financial services unit. Broader Asian markets also rose, tracking gains in Wall Street after the Biden Administration said that a deal on raising the U.S. debt ceiling could be reached as soon as this week.

China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose 0.4% and 0.8%, respectively, while Hong Kong’s Hang Seng index rose 1.2%, supported by a 3.2% jump in shares of Alibaba Group Holding Ltd (HK:9988) (NYSE:BABA). South Korea’s KOSPI rose 0.5%, while the Taiwan Weighted index rose 1.1%. Australia’s ASX 200 index added 0.5%.

The gains in Asian markets were held back by caution over slowing economic growth, particularly in China, but were supported by technology stocks and hopes of a U.S. debt ceiling deal.

Amazon’s Cloud Division to Invest $13 Billion in India Over the Next Decade

Amazon Web Services (AWS), the cloud computing division of Amazon.com Inc (NASDAQ:AMZN), announced on Thursday that it plans to invest 1.06 trillion rupees ($13 billion) in India by 2030. This investment will be used to build its cloud infrastructure in India and will support over 100,000 full-time jobs annually.

AWS currently runs two data centers in the Indian subcontinent – one in Mumbai and another in Hyderabad. With this latest investment, the company’s total planned investment in India adds up to about $16.4 billion by 2030.

The cloud platform offers more than 200 services, including storage, robotics and artificial intelligence. AWS has also been investing in regions across the world to provide seamless connectivity. Earlier this year, it said it plans to invest $6 billion in Malaysia by 2037.

This investment in India is a testament to the growing demand for cloud services in the country and will help create more jobs and opportunities for the people of India.

Deutsche Bank Agrees to Pay $75 Million to Resolve Lawsuit Filed by Jeffrey Epstein’s Accusers

Deutsche Bank AG has agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein. The proposed class action in Manhattan federal court was confirmed by the accusers’ lawyers late on Wednesday. Epstein had been a Deutsche Bank client from 2013 to 2018.

The bank acknowledged error in making Epstein a client and has since invested more than 4 billion euros to bolster its controls, processes and training. David Boies, one of the accusers’ lawyers, said in a statement that Epstein’s abuses “could not have happened without the collaboration and support of many powerful individuals and institutions.”

It is unclear how the settlement might affect JPMorgan Chase & Co, which faces similar but larger lawsuits by Epstein’s accusers and by the U.S. Virgin Islands. Epstein was a JPMorgan client from 1998 to 2013. Last September, Deutsche Bank agreed to pay $26.25 million to settle a U.S. shareholder lawsuit accusing the bank of lax oversight while doing business with risky, ultra-rich clients like Epstein.

Asian Markets Rise in Response to U.S. Debt Ceiling Optimism

Asian markets rallied on Thursday, following Wall Street’s lead, as investors drew comfort from signs that the United States might be close to a deal to raise the debt ceiling and avert a disastrous default. Japan’s Nikkei surged to a fresh 20-month peak, while Hong Kong’s Hang Seng gained 0.93%. Australia’s stock benchmark rose 0.59%, and the Aussie dollar suffered following an unexpected fall in employment in April. The dollar held just below a two-month high versus the yen, and long-term U.S. Treasury yields eased back. Gold found its feet around $1,984 per ounce, while oil eased a little after Wednesday’s $2 rallies for both Brent and West Texas Intermediate (WTI) crude. With President Joe Biden and top U.S. congressional Republican Kevin McCarthy pledging to negotiate directly on a deal, investors remain optimistic that a deal will be reached soon.

Markéta Davidová Wins Biathlete of the Year for Fifth Consecutive Year

Members of the Czech Biathlon Union have voted Markéta Davidová as the best Czech biathlete of the 2022/23 season. The twenty-six-year-old blew away the competition with 261 points, beating even the best of the men, Michal Krčmář, who came in second place with 227 points.

Krčmář praised Davidová for her achievements, saying that she was the clear number one and deserved to win. Davidová ranked in the top ten in World Cup events nine times in the past season, and was the only one of her Czech compatriots to be twice awarded a medal.

At a ceremony at Prague’s Karlín Forum on Wednesday evening, Davidová received her award and spoke to Czech Radio. She said that although she was happy to have won, the main draw of the awards event for her was the social aspect.

Davidová also wanted to highlight the achievements of the next generation of Czech biathletes, such as 18-year-old Daniel Malušek, who won gold in the relay at the junior world championships.

Davidová was herself a promising athlete from a young age. After her Olympic premiere in PyeongChang in 2018, she went to the Beijing Olympics four years later in hopes of winning a medal. She almost won gold in the endurance race, but missed the final shot and fell to sixth place. She was also close to winning gold in the mass start, but in the end came in fourth. However, she did become world champion in the endurance race in 2021. With her motto “Be better than yesterday”, there may yet be a gold medal in sight at the next Winter Olympics in 2026.

Czech Republic Announces Measures to Reduce National Budget Deficit

The Czech government has announced plans to reduce the state budget deficit by CZK 94 billion this year. Prime Minister Petr Fiala said that if measures were not taken now, the deficit would be CZK 148 billion higher in two years’ time. To achieve this, the government is proposing to reduce non-investment subsidies, operating costs and wages, as well as introducing two VAT rates instead of three.

In addition, levies on alcohol and tobacco will be raised, while food, housing and medicines will be made cheaper. Property tax is also to be increased, with the higher rate bringing an extra CZK 9.3 billion into the state coffers.

The pension system is also to be reformed, with adjustments to calculating retirement age, changes in pension levels and adjustments to early retirement. The prime minister said that while some taxes would be raised, the impact on citizens would be minimized.

Former Prime Minister Nečas Loses Appeal, Becoming First to Be Convicted of a Crime

The Prague appeals court has confirmed the one-year suspended sentence and CZK 100,000 fine for former Czech Prime Minister Petr Nečas. This makes him the first former Czech Prime Minister to be definitively convicted in a criminal case.

Mr. Nečas was found guilty of committing perjury to aid his wife in a case of misuse of the Military Intelligence. This matter contributed to the fall of his government in 2013.

The court’s decision is final and cannot be appealed. Mr. Nečas has expressed his disappointment with the verdict, but has accepted it.

for the upcoming week Forecast of Conditions for the Next Seven Days

Czechia is expecting a mostly cloudy day on Friday, with temperatures reaching an average high of 16 degrees Celsius. The weather is expected to remain similar throughout the weekend.

Rain is not expected, however, light showers may occur in some areas. The sun may make an appearance in the afternoon, but it is likely to be short-lived.

Winds will be light, with gusts of up to 10 km/h. Humidity levels will be high, so it is advised to dress appropriately.

The weekend is expected to be similar, with temperatures remaining around the 16 degree mark. There may be some sunny spells, but these will be short-lived.

Overall, it is expected to be a pleasant weekend in Czechia, with temperatures remaining mild and no rain forecast.