News

HANOI: Vietnam’s Ministry of Technology has instructed telecommunication service providers to block the messaging app Telegram, following allegations of its failure to cooperate in combating crimes committed by its users. The directive, issued on May 21, ordered telecom companies to take action and report back to the ministry by June 2. The ministry’s move was made on behalf of the country’s cybersecurity department, following reports by the police that 68% of the 9,600 Telegram channels and groups in Vietnam were involved in illegal activities, including fraud, drug trafficking, and suspected terrorism. The document also noted that Telegram had not shared user data with the government when requested for criminal investigations. As of May 23, Telegram remained accessible in Vietnam, but the government is pushing for measures to block its operations within the country. Telegram, a free-to-use platform with nearly one billion global users, has faced scrutiny globally over its security and data practices. In Vietnam, the Communist Party strictly controls media and has frequently urged tech companies like Facebook, YouTube, and TikTok to help censor content that is seen as anti-government or harmful. Telegram is accused of not adhering to local laws that require social media platforms to monitor, remove, and block illegal content. The platform has also been linked to opposition groups that have used it to spread anti-government materials. Telegram and the Vietnamese Ministry of Technology did not immediately respond to requests for comment. — Reuters

TOKYO: Advisory firm Glass Lewis has recommended that shareholders re-elect Toyota Motor Corporation Chairman Akio Toyoda at the company’s upcoming annual general meeting in June. This marks a significant shift for Glass Lewis, as it had previously recommended against Toyoda’s re-election for the past two years, citing governance concerns. Toyoda, the grandson of Toyota’s founder and a former CEO, has faced increasing scrutiny over his leadership. In recent years, Toyoda’s shareholder support has waned. He was re-elected to the board in 2024 with 72% of shareholder votes, a sharp decline from 85% in 2023 and 96% in 2022. In a July 2024 interview with Toyota’s official news outlet, Toyoda acknowledged that his position on the board could be at risk if shareholder backing continued to decline. He noted that 2024 marked the lowest support for any director in Toyota’s history. In addition to Glass Lewis, proxy adviser Institutional Shareholder Services (ISS) has also endorsed Toyoda’s re-election this year, reversing its stance from the previous year when it recommended voting against him. — Reuters

MANILA: Dave & Buster’s, the popular American entertainment and dining brand, has officially broken ground on its inaugural location in the Philippines. Set to open at the bustling Opus Mall in Manila, the venue will offer locals a first taste of the brand’s signature mix of cutting-edge arcade games, American cuisine, and dynamic sports viewing. The groundbreaking ceremony marked a key moment in Dave & Buster’s international expansion and was hosted in collaboration with its local franchise partner, The Bistro Group. Company executives, local officials, and community leaders attended the event, signalling strong anticipation for the brand’s debut in Southeast Asia. “This is more than a groundbreaking—it’s a landmark moment in our international story,” said Antonio Bautista, Chief International Development Officer at Dave & Buster’s. “With the strength of our partnership with The Bistro Group, we’re bringing an exciting new concept to Manila that delivers fun, flavour, and unforgettable experiences.” Jean Paul Manuud, President of The Bistro Group, echoed the sentiment: “Dave & Buster’s is a game-changing brand. We’re proud to launch this first-of-its-kind experience in the Philippines where great food, cutting-edge games, and community come together.” The Manila flagship will blend the brand’s renowned American fare with local culinary influences, feature a wide selection of state-of-the-art games, and provide flexible spaces for private events and major sports viewing. This debut in the Philippines forms part of a broader multi-unit development strategy in the region. Dave & Buster’s has already announced additional international locations set to open in 2025, including its second venue in India, as well as new outlets in Australia, Mexico, and the Dominican Republic. The brand currently operates more than 220 locations across North America and is actively expanding across five continents.

BENGALURU: Indian fashion e-commerce giant Myntra is taking its first steps into international retail with the launch of Myntra Global in Singapore. The platform will offer curated selections of trendy, made-in-India fashion and lifestyle products, primarily targeting the city-state’s sizeable Indian diaspora of approximately 650,000. This strategic move marks a significant milestone for Myntra, which has built an 18-year legacy as a leading player in India’s fashion and lifestyle e-commerce space. The new venture also aligns with the Indian government’s broader vision of promoting Indian-made products on a global scale. “Myntra Global is a milestone moment,” said Nandita Sinha, CEO of Myntra. “With our experience in serving millions of fashion-conscious customers and our strong brand partnerships, we aim to bring the vibrancy of Indian fashion to Indians abroad, beginning with Singapore.” The new platform launches with around 35,000 styles from 100 popular Indian brands across apparel, footwear, home décor, and accessories. Shoppers in Singapore will have access to labels such as Aurelia, Global Desi, Libas, Rustorange, House of Pataudi, Chumbak, The Label Life, and many more. Myntra had already observed organic traction from Singapore, with about 30,000 users accessing its Indian platform prior to the official launch. The company is now aiming to formalise that interest with a seamless digital shopping experience through Myntra Global, accessible via mobile web and desktop. Orders will be fulfilled in an estimated 4–7 days using third-party cross-border logistics providers. The move not only reinforces Myntra’s intent to serve global consumers, but also promises a growth runway for Indian fashion brands aspiring to expand beyond the domestic market.

BANGKOK: Thailand’s Supreme Administrative Court has ordered former prime minister Yingluck Shinawatra to pay 10 billion baht (approximately US$305 million) in damages over losses incurred by a controversial rice subsidy programme implemented during her tenure. The ruling follows Yingluck’s appeal against a prior order requiring her to pay 35 billion baht. The court determined that while the previous figure exceeded her legal liability, she was still responsible for significant losses caused by gross negligence in overseeing the scheme. Launched under her Pheu Thai-led administration, the rice pledging programme paid farmers up to 50% above market prices. The populist initiative was politically popular but financially unsustainable, resulting in billions of dollars in losses and surplus rice stockpiles. Yingluck, who fled the country in 2017 to avoid a five-year prison sentence for negligence, called the latest order “excessive” and vowed to continue fighting for justice. “Even if I repaid it my entire life, it would never be enough,” she said via social media. The verdict comes as the Shinawatra family regains political influence, with the Pheu Thai party returning to power and Yingluck’s brother, Thaksin Shinawatra, having recently returned from self-imposed exile. The Shinawatras maintain the charges against them are politically motivated, rooted in longstanding tensions with Thailand’s conservative establishment.–REUTERS

MANILA: The Asian Development Bank (ADB) has appointed Seong-Wook Kim as its new Chief Partnership Officer, tasked with leading resource mobilisation and strategic engagement through the Office of the President. In this role, Kim will spearhead ADB’s partnerships with the global development community, including engagement at key international forums and outreach to potential new member countries. His leadership will be central to deepening collaboration with development partners and enhancing the bank’s development impact across Asia and the Pacific. “As ADB expands its role in an evolving development landscape, effective partnerships are more critical than ever,” said ADB President Masato Kanda. “Mr. Kim’s extensive diplomatic and multilateral experience positions him well to drive our strategic collaborations.” Commenting on his appointment, Kim said, “I am honoured to join ADB and contribute to its mission by strengthening partnerships that accelerate sustainable development across the region.” A national of the Republic of Korea, Kim brings over three decades of experience at the Ministry of Economy and Finance, having served as Deputy Minister for International Affairs and in various key roles involving the G20 and ASEAN+3 Finance processes. He has also represented the region as Executive Director at both the World Bank and International Monetary Fund. Kim holds a Master’s in Public Administration from Harvard Kennedy School and a Bachelor’s in Economics from Seoul National University. Founded in 1966, ADB is a multilateral development bank owned by 69 members, including 50 from the Asia-Pacific region. It supports inclusive and sustainable development through financing, knowledge-sharing, and strategic partnerships.