THE BIG STORY
Asian stocks slump as Fed signals more tightening
Asian stock markets slumped after the Federal Reserve enacted a third straight interest rate hike of 0.75 percentage point and signalled more monetary tightening ahead to fight inflation. This sent the US dollar to a fresh two-decade high, fuelling concerns investors will pull out of Asian equities and shift into US dollar-denominated assets.
THE BIG STORY
Malaysian fugitive 'Fat Leonard' arrested
Malaysian fugitive Leonard Glenn Francis, also known as "Fat Leonard", has been arrested in Venezuela after being on the run from Interpol since Sept 4. He had fled house arrest in San Diego, California, ahead of his sentencing after pleading guilty in 2015 to bribery and agreeing to forfeit millions in ill-gotten gains.
WORLD
Bersatu struggles to stay relevant ahead of upcoming elections
Parti Pribumi Bersatu Malaysia is struggling to hold on to its allies and causes ahead of the upcoming elections. The party has presented itself as an alternative to the ruling Umno, whose senior leaders are facing graft charges. But the courts have dealt with these politicians lately, and Bersatu stands to lose its main rallying point if Umno fields a line-up free from these leaders' influence.
SINGAPORE
Examining excess deaths to see Covid-19's impact
Singapore saw 2,490 excess deaths due to Covid-19 between January 2020 and June 2022. Measuring excess deaths helps people understand Covid-19's impact. The Straits Times explains what this figure means, looks at the role vaccination played, and examines how Singapore fared compared with other countries.
WORLD
Taiwan sets up backup satellite Internet network
Taiwan is taking a page out of Ukraine’s playbook by setting up a backup satellite Internet network that will keep its command systems running if conventional connections are cut in the event of an attack on the island. It will trial the NT$550 million (S$24.7 million) satellite programme over the next two years.
BUSINESS
Big ideas for the future of work
The disruptions brought about by the Covid-19 pandemic have highlighted how vital it is for companies to develop a digital headquarters so that staff can better work together online.
The digital HQ idea was one of many discussed at Salesforce's Dreamforce conference held in San Francisco this week.
