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By Nitya Chakraborty The U.S. President Donald Trump begins his three-day visit to China on May 13 for his summit with the Chinese President Xi Jinping, the outcome of which has special significance for Trump in shaping his political future in the context of the midterm elections in November this year. Among both leaders, the […]

The article Donald Trump-Xi Jinping Are Both Aiming For Win-Win Outcome At Beijing Summit appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

SINGAPORE – Media OutReach Newswire – 11 May 2026 – The Institute of Singapore Chartered Accountants (ISCA) has launched a new Taskforce to strengthen financial reporting and investor confidence in Singapore, amid growing focus on corporate transparency, financial controls and trust in capital markets.

The Strengthening Financial Reporting Taskforce was launched today at the ISCA Value Unlock Forum held in partnership with Singapore Exchange (SGX). Chaired by Ms Euleen Goh, ISCA Distinguished Lifetime Member and Chairman of Singapore Institute of Management Group Ltd, the Taskforce will bring together leaders from business, finance, academia and investor groups to review Singapore’s financial reporting ecosystem and recommend ways to strengthen the quality, integrity and usefulness of corporate reporting.

The Taskforce comes at a timely moment as Singapore continues efforts to strengthen its capital markets and business ecosystem. Recent national initiatives, including the Accountancy Workforce Review Committee and the Monetary Authority of Singapore’s Equities Market Review, have highlighted the importance of strong financial reporting, professional capabilities and investor trust.

The launch also comes amid ongoing discussions on reducing compliance costs for smaller companies, including ACRA’s review of Singapore’s audit exemption framework. Regardless of how the framework evolves, strong financial reporting practices, competent finance professionals and effective financial controls remain fundamental to upholding confidence among investors, lenders and stakeholders.

The Taskforce will study how companies can improve the way they communicate financial performance, business risks and long-term value creation to investors and stakeholders. It will also examine how Singapore can continue to uphold high standards of governance, transparency and accountability in a rapidly evolving business environment.

Ms Euleen Goh, Chairperson of the Strengthening Financial Reporting Taskforce, said: “Financial reporting has always been the language of business. As markets evolve, it must speak more clearly and more usefully to the stakeholders who rely on it. The Taskforce will take a practical and holistic look at how Singapore can raise the bar so that companies communicate value and insights with the confidence and clarity that investors and the market expect.”

The Taskforce comprises leaders from across the financial ecosystem:

• Mr Liew Nam Soon, Deputy Regional Managing Partner, EY Asia East; Managing Partner, EY Asean; Managing Partner, EY Singapore & Brunei
• Mr Leong Yung Chee, Group CFO, United Overseas Bank Limited
• Professor Lawrence Loh, Director, Centre for Governance and Sustainability, NUS Business School, National University of Singapore
• Ms Belinda Tan, CA (Singapore), Managing Director of Finance, Temasek International
• Mr Ang Hao Yao, Vice President, Securities Investors Association (Singapore)
• Ms Karen Loon, Member, Governing Council of the Singapore Institute of Directors
• Mr Tan Boon Gin, CEO, Singapore Exchange Regulation (Observer)
• Mrs Chia-Tern Huey Min, CE, Accounting and Corporate Regulatory Authority (Observer)

Mr Lee Boon Teck, President of ISCA, said: “High-quality financial reporting and strong financial controls are essential to investor confidence and market integrity. As Singapore’s national accountancy body, ISCA believes professionally trained finance and accounting professionals play a critical role in safeguarding trust in business and capital markets. This Taskforce reflects our commitment to supporting Singapore’s continued standing as a trusted global financial and business hub.”

The Taskforce was launched at the ISCA Value Unlock Forum, which brought together C-suite leaders, finance professionals and capital markets stakeholders to discuss how companies can better communicate value to the market.

ISCA Academy, an Approved Training Provider under the SGX Value Unlock Programme, supported the afternoon sessions as part of the ISCA Value Unlock Series. The series aims to equip listed companies and finance leaders with practical capabilities to communicate performance, strategy and value more effectively to the market.

Ms Cyndi Pei, Chairperson of ISCA Academy, said: “As stakeholder expectations continue to evolve, finance leaders are increasingly expected to go beyond reporting results to articulating performance, risks and value creation with clarity, credibility and context. ISCA Academy remains committed to supporting the profession and the broader market by building the practical capabilities needed to reinforce trust, promote transparency and strengthen confidence in Singapore’s capital markets.”

The Taskforce will engage stakeholders over the coming months and provide recommendations on strengthening Singapore’s financial reporting ecosystem.Hashtag: #ISCA #CharteredAccountants #FinancialReporting #DifferenceMakers #Accounting #Accountancy

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About the Institute of Singapore Chartered Accountants (ISCA) Academy

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. Established in 1963, ISCA administers the Singapore Chartered Accountant Qualification programme and is the designated entity by the Singapore Ministry of Finance to confer the Chartered Accountant of Singapore [CA (Singapore)] designation.

ISCA supports over 43,000 members across industries in Singapore and globally, with members in more than 40 countries. With a growing international presence, ISCA has 12 overseas chapters, 7 offices across 10 countries and a network of over 150 strategic partners, strengthening professional connections and opportunities across borders. ISCA is also a member of Chartered Accountants Worldwide, a global network representing more than 1.8 million Chartered Accountants and students across over 190 countries.

ISCA advances professional development and lifelong learning through ISCA Academy, its training arm and drives community impact through ISCA Cares, its charity arm.

ISCA Academy, the leading business school of ISCA, delivers immersive, industry-informed learning across accountancy, finance, technology, governance and leadership. We equip learners to reskill, reconnect and reinvent, empowering them to stay relevant and ahead by choice.

For more information, visit www.isca.org.sg.

The revised plan would involve the sale of a 2.5 per cent stake through new shares, with the proceeds flowing to Jio Platforms rather than to shareholders seeking exits. The change marks a significant adjustment in what is expected to be one of the largest public offerings in the country’s capital markets, and places long-term growth funding ahead of partial monetisation by early backers.

Jio Platforms, controlled by Mukesh Ambani’s Reliance Industries, owns Reliance Jio Infocomm and houses a broad portfolio of digital services spanning telecom, broadband, cloud, media, payments and consumer technology platforms. Its shareholder base includes Meta, Google, Vista Equity Partners, KKR, Mubadala, Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund, many of which entered the company during the 2020 fundraising cycle.

Earlier discussions had explored an offer-for-sale structure under which foreign investors could have sold about 8 per cent of their individual holdings, amounting to roughly 2.5 per cent of Jio Platforms. That approach has now been set aside, with investors opting to remain exposed to the business rather than reduce stakes at the listing stage.

The decision strengthens Reliance’s control over the IPO narrative. A fresh issue allows the company to present the listing as a growth-financing event instead of an exit window for private investors. It also limits the risk that the market interprets selling by marquee shareholders as a signal of valuation caution, particularly at a time when global technology listings are being judged closely on profitability, cash generation and regulatory exposure.

Jio Platforms is widely seen as the centrepiece of Reliance Industries’ transition from an energy-heavy conglomerate to a broader consumer, digital and technology group. The telecom arm has become one of the world’s largest mobile operators by users, while its digital ecosystem has helped Reliance build links across retail, entertainment, finance and enterprise services.

The company’s operating performance has supported expectations of a high-profile listing. Jio Platforms reported strong profit growth for the quarter ended March 2026, helped by tariff-led gains, subscriber additions, higher data consumption and expansion in home broadband. Average revenue per user rose to ₹214, reflecting improved monetisation after tariff increases and a better customer mix.

The proposed IPO has been closely watched since Ambani told shareholders that Jio Platforms was being readied for a market debut in the first half of 2026. Preparations gathered pace after listing rules were adjusted to make it easier for very large companies to float a smaller portion of equity while still meeting public-shareholding requirements over time.

A 2.5 per cent offering would keep public float modest at the start, but even that limited stake could translate into a multibillion-dollar transaction if the company commands a valuation close to estimates that have placed Jio Platforms around $180 billion. At that level, the IPO could rank among the largest listings ever seen on domestic exchanges.

The timing remains sensitive. Equity markets have been volatile as investors weigh interest-rate expectations, geopolitical risks, technology valuations and capital flows into emerging markets. Several large companies have adjusted listing timetables as issuers and bankers test demand from institutional and retail investors.

Reliance has assembled a large banking syndicate for the transaction, underlining the scale and complexity of the planned sale. The deal will require careful pricing to balance investor appetite, Reliance’s valuation expectations and the interests of existing shareholders who invested at a premium during the digital fundraising boom.

For Meta and Google, continued ownership preserves access to one of the world’s largest digital consumer markets through partnerships linked to messaging, cloud services, devices and online commerce. For sovereign wealth funds and private equity investors, remaining invested offers exposure to a mature telecom platform with rising cash flows and expanding digital adjacencies.

The IPO will also have implications for Reliance Industries’ own market valuation. Investors have long debated whether separate listings of Jio Platforms and Reliance Retail could unlock value trapped inside the conglomerate structure. A successful Jio debut may narrow the holding-company discount, while a weak listing would raise questions over the pace and pricing of Reliance’s broader demerger and monetisation strategy.

Cinema star C. Joseph Vijay took office as Tamil Nadu Chief Minister on Sunday after his Tamilaga Vettri Kazhagam secured outside support from smaller parties, ending decades of dominance by the DMK and AIADMK in one of the country’s most industrialised states.

Vijay was sworn in by Governor Rajendra Vishwanath Arlekar in Chennai after TVK, which emerged as the single largest party in the 234-member assembly, crossed the majority threshold with backing from allies and smaller groups. The result marks a dramatic transition for a politician who launched his party only two years ago and built his campaign around welfare promises, anti-corruption messaging, youth mobilisation and a direct appeal to voters frustrated with entrenched Dravidian party structures.

TVK won 108 seats, short of the 118 needed for a simple majority, but support from Congress, Left parties, Viduthalai Chiruthaigal Katchi and the Indian Union Muslim League gave Vijay the numbers to stake claim to power. The Bharatiya Janata Party said it would neither support nor participate in government formation, leaving the new administration dependent on a coalition arrangement that will test Vijay’s ability to move from mass politics to legislative management.

The swearing-in has wider economic significance because Tamil Nadu is a key manufacturing base for automobiles, electronics, textiles, renewable energy components and iPhone assembly. The state hosts major production networks linked to Apple suppliers, including Foxconn near Chennai, Tata Electronics in Hosur and facilities connected with Pegatron’s operations. Its industrial corridors around Chennai, Sriperumbudur, Hosur, Coimbatore and Tiruchirappalli have made it central to efforts to expand high-value manufacturing supply chains outside China.

Vijay’s first orders signalled an effort to combine welfare politics with a law-and-order pitch. His early decisions included 200 units of free electricity for households, a dedicated anti-drug task force and a separate mechanism for women’s safety. He also moved to seek a white paper on the outgoing government’s finances, a step likely to shape the first phase of political confrontation with the DMK.

The new Chief Minister used his first speech to frame the victory as a social justice mandate, telling supporters that his government would represent ordinary people rather than political dynasties. His language echoed themes that powered TVK’s campaign: dignity for poorer households, jobs for young voters, clean administration and a break from the established rivalry between the DMK and AIADMK.

Tamil Nadu’s business community will be watching how the new government handles investment approvals, land acquisition, labour relations, power subsidies and infrastructure spending. The state has attracted large investments in electronics and electric vehicles while retaining a strong automobile base built over several decades. Any uncertainty in policy execution could affect expansion plans, but a stable administration could strengthen Tamil Nadu’s position as a production hub at a time when global manufacturers are diversifying supply chains.

Vijay’s cabinet includes a mix of TVK loyalists and figures brought in to manage administration, political outreach and coalition discipline. N. Anand, Aadhav Arjuna and other senior party functionaries are expected to play central roles in converting a campaign-driven organisation into a governing machine. The inclusion of experienced political hands will be closely scrutinised because TVK lacks the administrative depth of the DMK and AIADMK.

The DMK, led by M. K. Stalin, now faces a sharp reversal after years in office, while the AIADMK’s weakened position raises questions about the future of the opposition space. Vijay’s rise has disrupted the familiar structure of Tamil Nadu politics, where cinema and politics have long intersected but power has remained largely within parties rooted in the Dravidian movement. His victory shows that celebrity appeal, when tied to welfare messaging and anti-incumbency sentiment, can still reshape electoral arithmetic.

Coalition pressures may emerge quickly. Parties extending support to TVK will expect policy consultation, constituency-level influence and space in governance decisions. Welfare commitments, including subsidised power, will also place pressure on state finances unless matched by revenue growth and investment-led job creation.

By Dr. Gyan Pathak With the publication of the final rules under the Code on Wages, 2019 and Industrial Relations Code, 2020 on Friday, May 8, 2026, the Union Government of India has fully operationalized them. Apart from these, the Union Ministry of Labour and Employment has also notified the Model Standing Orders, 2026, for […]

The article India Operationalises New Labour Codes On Wages And Industrial Relations appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The event, with the Department of Justice (DoJ) and the Hong Kong International Legal Talents Training Academy as the key sponsors, gathered more than 400 leaders, policymakers and distinguished professionals from 48 countries and regions. They explored frontier topics such as cross-cultural international mediation, financial and investment dispute mediation, and the development of a global mediation ecosystem.

Speaking at the Summit, John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), noted that Hong Kong has long supported mediation.

“Hong Kong is committed to becoming a global mediation capital. And we are well-positioned to do so,” Mr Lee said.

“Under ‘one country, two systems’, Hong Kong is a thriving hub for international finance, shipping and trade. We benefit from our country’s strong support and the opportunities it gives us, while maintaining extensive international connectivity as a world city.

“Hong Kong is the only common law jurisdiction in China, our country. And our legal professionals are internationally acknowledged for their professionalism and integrity. And now, as IOMed’s headquarters, Hong Kong is at the very heart of global dispute resolution and its promising future.”

Paul Lam, Secretary for Justice of the HKSAR, highlighted the HKSAR Government’s ongoing support for the IOMed in different ways.

“First, it will be responsible for the maintenance of the Headquarters. Second, the DoJ will continue to second Hong Kong legal professionals to the IOMed Secretariat. Since 2023, the DoJ has already seconded a total of four counsel to assist in the establishment of the IOMed. Third, the Government will actively promote the use of IOMed mediation by, among other things, taking the lead in procuring the inclusion of an IOMed mediation clause in suitable international agreements to which the HKSAR Government is a party,” Mr Lam said.

“Hong Kong is well recognised as a leading international legal and dispute resolution services centre. Indeed, one of the mandates stated in the National 15th Five-Year Plan is that Hong Kong shall strengthen its status in this respect.”

Since the IOMed’s inauguration, the number of signatory states has climbed from 37 to 41, while the number of contracting states has gone from eight to 13.

“IOMed is the first inter-governmental international organisation set up by a Convention to promote exclusively the use of mediation,” said Professor Teresa Cheng, Secretary-General of IOMed, in her welcome remarks at the summit. “It fills an institutional gap and brings forth mediation as a true viable alternative to resolving international disputes alongside litigation and arbitration.”

Professor Cheng shared two important developments of the IOMed.

First, a maritime dispute was successfully resolved through mediation administered by IOMed at its Hong Kong Headquarters in early May, just a few days ago. “The case marks an important milestone: it is the first international maritime dispute involving a charterparty chain referred to IOMed for mediation,” Professor Cheng said.

Second, aligning with Hong Kong’s goal to further develop the commodities market, and the intention to stipulate use of IOMed mediation in the related contracts and policy, the Secretariat of IOMed is working with the HKSAR Government and other stakeholders to explore the establishment of a dedicated special panel of mediators for commodities market disputes under the IOMed framework.

The Global Mediation Summit is the finale event of the Mediation Week 2026 held in Hong Kong under the theme of “Mediate First: An Attempt of Mediation, Harvests Abundant Harmony”, with a view to promoting mediation as a friendly way to amicably resolve disputes and conflicts, and to build a more harmonious community.

“Our commitment to mediation, locally and globally, is clear in the five-day Mediation Week programme that ends today with this Summit,” Mr Lee said. “Mediation Week events spotlighted disputes related to schools, sports, neighbourhoods and the elderly. The goal in each case was to apply mediation structure and skills to achieve peaceful and rational solutions to our problems.”

Hashtag: #hongkong#brandhongkong#asiasworldcity#globalmediationsummit#IOMed

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Air India is preparing deeper cost controls and fresh flight reductions as the Iran war pushes up fuel costs, disrupts airspace and intensifies pressure on a carrier still trying to complete one of the world’s most ambitious airline turnarounds.

The Tata Group-owned airline is weighing measures that could include furloughs for non-technical employees, salary reductions for senior executives, lower bonus payouts and capacity cuts of more than 20 per cent over the next three months. The review comes as the airline faces longer routings, higher aviation turbine fuel prices and weaker economics on several long-haul and regional services.

Nearly 100 domestic and international flights are expected to be trimmed through July, with North America, Europe and West Asia routes among the most exposed. Longer flight paths caused by restricted airspace across parts of West Asia have increased flying time, crew costs and fuel burn. For an airline with a large share of wide-body operations, even a modest extension of flight time can turn a marginal route into a loss-making one.

Chief executive Campbell Wilson has told staff that the airline had already scaled back some services in April and May, but worsening operating conditions required further action in June and July. The cuts are being framed as a temporary response to abnormal costs rather than a reversal of Air India’s expansion strategy, though they underscore the fragility of the carrier’s recovery.

Air India’s financial strain predates the latest escalation in West Asia. The airline has been absorbing the cost of fleet renewal, cabin refits, technology upgrades, merger integration and service improvements since Tata Group acquired it from the government in 2022. Its merger with Vistara has expanded its premium network and given Singapore Airlines a stake of just over 25 per cent in the enlarged carrier, but the integration has also added complexity at a time of volatile fuel markets and aircraft supply delays.

The airline’s losses for the year ended March 2026 have been estimated at more than ₹220 billion, a sharp deterioration linked to high fuel costs, airspace restrictions, operational disruptions and the heavy cost of restructuring. The figure has raised expectations that shareholders may need to provide additional financial support while management attempts to protect liquidity.

War-linked airspace restrictions have hit Air India more severely than many rivals because of its geography. Flights between the subcontinent and North America or Europe often depend on corridors through Pakistan, Iran, Iraq and surrounding regions. With some of these routes restricted or avoided for safety reasons, aircraft must take longer paths, increasing fuel consumption and reducing aircraft productivity.

The carrier has also faced constraints from aircraft availability. Refits of Boeing 787 aircraft, delivery delays and maintenance requirements have limited flexibility in reallocating capacity. The airline’s earlier suspension of Delhi-Washington services highlighted how aircraft shortages and airspace restrictions can combine to make long-haul routes commercially difficult even where demand exists.

Air India’s planned cuts come against a wider global aviation squeeze. Jet fuel prices have surged as the Iran war disrupted energy markets and raised fears over supply through the Gulf. Airlines with weaker fuel hedging, older fleets or longer detour-heavy networks face the harshest impact. Some carriers are raising fares, while others are cutting capacity to protect cash and preserve operational reliability.

For passengers, the adjustments could mean fewer non-stop choices, higher fares on peak routes and greater reliance on partner airlines through hubs such as London, Frankfurt, New York, Newark, Chicago and San Francisco. Air India is expected to prioritise commercially stronger routes and maintain connectivity where demand, yields and aircraft availability justify operations.