Latest news with #post-COVID
Tokyo Weekender
41 minutes ago
- Tokyo Weekender
Russian National Arrested for Pickpocketing After 20 Entries Into Japan
By all appearances, he was just another commuter on a packed train. But when 46-year-old Vitaly Shemshkevich reached into a fellow passenger's bag on the JR Yamanote Line during evening rush hour, two officers from the Tokyo Railway Police were watching from just behind. The Russian national was arrested on the spot for attempted theft — not for the first time, and, police suspect, not close to the last. According to the Tokyo Metropolitan Police Department, Shemshkevich has entered and exited Japan approximately 20 times since 2023. Each time he landed, pickpocketing reports surfaced in his wake. He is now suspected in at least 14 separate theft cases across Tokyo's rail network, all mirroring the same method: exploiting commuter congestion, blending into the crowd and striking with practiced sleight of hand. On June 13 , police caught him mid-act using a jacket to shield his movement while reaching into a commuter's bag. When stopped, he denied wrongdoing. 'The zipper was closed. It couldn't have been taken,' he reportedly told officers. List of Contents: A Fixed Pattern Crowds Are Back — And So Are the Thieves Related Posts A Fixed Pattern What makes this case so unusual isn't just the method — though police say it was textbook — but the frequency, persistence and international aspect of it. Shemshkevich's repeat visits suggest a form of cross-border opportunism that has, until now, been relatively rare in Japan's domestic crime reporting. Tokyo police had already begun monitoring his movements after noticing a clear correlation between his entries into Japan and spikes in train thefts. The suspect is thought to have maintained a consistent pattern: fly in, ride the rail network, target congested lines and leave. Repeat. Though the scope of the thefts remains under investigation, authorities say this case exemplifies a broader uptick in commuter crimes. As of late May, Tokyo had already logged 127 reported pickpocketing incidents — a 60 percent increase from the same period in 2024. Crowds Are Back — And So Are the Thieves Japan's post-COVID tourism boom has been good for business — and for thieves. As Tokyo's hotspots return to full capacity, some are exploiting the crowds and the anonymity they offer. The most vulnerable are often those who assume they are safe. Tokyo's famously low crime rate has cultivated a level of trust — or complacency — among commuters. Bags are routinely left unattended in cafes, phones rest casually on train seats, and the idea of being pickpocketed still strikes many residents as unthinkable. There's no indication that travel-linked crime is widespread, or that foreign visitors are inherently suspect. But Shemshkevich's arrest is a reminder that even in one of the world's safest cities, criminal tactics evolve — especially when trust is part of the infrastructure. Related Posts Unlicensed Taxi Drivers Target Foreign Visitors at Haneda Airport Outrage After Foreign Landlord Nearly Triples Tokyo Apartment R ent McDonald's Chiikawa Collab Causes Chaos and Controversy
Time of India
an hour ago
- Business
- Time of India
RBI Governor pushes for growth-backed policies as global uncertainty clouds India's investment outlook: MPC minutes
RBI Governor Sanjay Malhotra cautioned that rising global uncertainty could postpone business investment decisions. He noted that post-COVID recovery has been driven by public investments, with private sector investment remaining weak despite favorable conditions. Malhotra emphasized the necessity of implementing policies that actively support economic growth in the face of these challenges. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Growth and inflation outlook Tired of too many ads? Remove Ads Rising global uncertainty may cause businesses to delay investment decisions, Reserve Bank of India Governor Sanjay Malhotra said, stressing the need for policies that support economic growth , in his statement, released on Friday, as a part of the minutes of the Monetary Policy Committee (MPC) meeting.'On the investment front, the post-Covid recovery so far has been largely led by public investments, while private sector investments have been weak despite high capacity utilisation and improved corporate balance sheets. Moreover, heightened global uncertainties may put on hold investment decisions by businesses, underscoring the need for growth supportive policies,' Malhotra its June meeting, the MPC decided to cut the benchmark repo rate by 50 basis points to 5.5%. The committee expects that this dual-rate cut will significantly reduce lending rates, thereby, encouraging both investment and consumption, particularly in durable the decision, Malhotra said, 'It is expected that the front-loaded rate action along with certainty on the liquidity front would send a clear signal to the economic agents, thereby supporting consumption and investment through lower cost of borrowing.'The RBI had earlier indicated that investment activity is likely to improve, supported by higher capacity utilisation, better corporate balance sheets across both financial and non-financial sectors, and continued capital expenditure by the the overall investment landscape remains uneven. 'Domestically, the recovery of economic growth to 7.4% in Q4:2025 from 6.4% in Q3:2025 was a pleasant surprise. It helped to close the year 2024-25 with 6.5% growth overall. However, the recovery has not been broad-based. It was supported by the rural consumption and government capex. Private investment, especially in manufacturing, and urban consumption, have continued to remain subdued,' said MPC member Nagesh Kumar in his added, 'It is not clear that the growth momentum will continue in the Q1 of the current year, given the fact that consumption and investment growth is moderating. The survey of corporate performance shows that companies are deleveraging their balance sheets with rising profits. Despite the capacity utilisation crossing beyond 75%, the investment intentions in manufacturing have moderated in 2025-26. The difficult external environment is likely to further complicate the economic growth outlook for 2025-26, especially for the manufacturing sector outlook, with implications for job creation. It calls for supporting growth through both fiscal and monetary policy.'Despite the concerns around external volatility, the RBI's rate-setting panel in its June MPC meeting retained its GDP growth forecast for FY26 at 6.5%, with quarterly estimates holding economy grew at 7.4% in the March quarter, marking the fastest pace in the past four quarters. However, the full-year FY25 growth settled at 6.5%, slightly below the average of recent years. Governor Malhotra had acknowledged persistent external challenges such as geopolitical conflicts and changing trade policies, but remained confident in the domestic economic momentum, supported by a strong monsoon forecast and continued strength in the services central bank maintained its quarterly growth projections for FY26 at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. 'Services sector is expected to maintain its momentum. However, spillovers emanating from protracted geopolitical tensions, and global trade and weather-related uncertainties pose downside risks to growth,' the MPC had added that the Indian economy is progressing well and largely in line with expectations, despite the headwinds from the global the inflation front, the RBI had revised its forecast downward for FY26 to 3.7%, from the earlier projection of 4% made in April. The downward revision came amid a sustained drop in price had highlighted that headline inflation fell to a nearly six-year low in April, driven by easing food prices and deflation in fuel. Core inflation remained stable despite global commodity market RBI's latest quarter-wise inflation projections were 2.9% for Q1, 3.4% in Q2, 3.5% in Q3, and 4.4% in Q4. The central bank had stated that risks to the inflation outlook were 'evenly balanced.'With inflation easing and the economy showing selective strength, the RBI and the MPC have chosen to support momentum while remaining cautious of evolving global dynamics.
Economic Times
an hour ago
- Business
- Economic Times
RBI Governor pushes for growth-backed policies as global uncertainty clouds India's investment outlook: MPC minutes
RBI Governor Sanjay Malhotra cautioned that rising global uncertainty could postpone business investment decisions. He noted that post-COVID recovery has been driven by public investments, with private sector investment remaining weak despite favorable conditions. Malhotra emphasized the necessity of implementing policies that actively support economic growth in the face of these challenges. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Growth and inflation outlook Tired of too many ads? Remove Ads Rising global uncertainty may cause businesses to delay investment decisions, Reserve Bank of India Governor Sanjay Malhotra said, stressing the need for policies that support economic growth , in his statement, released on Friday, as a part of the minutes of the Monetary Policy Committee (MPC) meeting.'On the investment front, the post-Covid recovery so far has been largely led by public investments, while private sector investments have been weak despite high capacity utilisation and improved corporate balance sheets. Moreover, heightened global uncertainties may put on hold investment decisions by businesses, underscoring the need for growth supportive policies,' Malhotra its June meeting, the MPC decided to cut the benchmark repo rate by 50 basis points to 5.5%. The committee expects that this dual-rate cut will significantly reduce lending rates, thereby, encouraging both investment and consumption, particularly in durable the decision, Malhotra said, 'It is expected that the front-loaded rate action along with certainty on the liquidity front would send a clear signal to the economic agents, thereby supporting consumption and investment through lower cost of borrowing.'The RBI had earlier indicated that investment activity is likely to improve, supported by higher capacity utilisation, better corporate balance sheets across both financial and non-financial sectors, and continued capital expenditure by the the overall investment landscape remains uneven. 'Domestically, the recovery of economic growth to 7.4% in Q4:2025 from 6.4% in Q3:2025 was a pleasant surprise. It helped to close the year 2024-25 with 6.5% growth overall. However, the recovery has not been broad-based. It was supported by the rural consumption and government capex. Private investment, especially in manufacturing, and urban consumption, have continued to remain subdued,' said MPC member Nagesh Kumar in his added, 'It is not clear that the growth momentum will continue in the Q1 of the current year, given the fact that consumption and investment growth is moderating. The survey of corporate performance shows that companies are deleveraging their balance sheets with rising profits. Despite the capacity utilisation crossing beyond 75%, the investment intentions in manufacturing have moderated in 2025-26. The difficult external environment is likely to further complicate the economic growth outlook for 2025-26, especially for the manufacturing sector outlook, with implications for job creation. It calls for supporting growth through both fiscal and monetary policy.'Despite the concerns around external volatility, the RBI's rate-setting panel in its June MPC meeting retained its GDP growth forecast for FY26 at 6.5%, with quarterly estimates holding economy grew at 7.4% in the March quarter, marking the fastest pace in the past four quarters. However, the full-year FY25 growth settled at 6.5%, slightly below the average of recent years. Governor Malhotra had acknowledged persistent external challenges such as geopolitical conflicts and changing trade policies, but remained confident in the domestic economic momentum, supported by a strong monsoon forecast and continued strength in the services central bank maintained its quarterly growth projections for FY26 at 6.5% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4. 'Services sector is expected to maintain its momentum. However, spillovers emanating from protracted geopolitical tensions, and global trade and weather-related uncertainties pose downside risks to growth,' the MPC had added that the Indian economy is progressing well and largely in line with expectations, despite the headwinds from the global the inflation front, the RBI had revised its forecast downward for FY26 to 3.7%, from the earlier projection of 4% made in April. The downward revision came amid a sustained drop in price had highlighted that headline inflation fell to a nearly six-year low in April, driven by easing food prices and deflation in fuel. Core inflation remained stable despite global commodity market RBI's latest quarter-wise inflation projections were 2.9% for Q1, 3.4% in Q2, 3.5% in Q3, and 4.4% in Q4. The central bank had stated that risks to the inflation outlook were 'evenly balanced.'With inflation easing and the economy showing selective strength, the RBI and the MPC have chosen to support momentum while remaining cautious of evolving global dynamics.
Focus Malaysia
5 hours ago
- Business
- Focus Malaysia
Oil prices spike on Iran-Israel tensions, but sustained rally unlikely: TA
THE escalating confrontation between Iran and Israel has reintroduced volatility to global oil markets. Brent crude surged over 8% following Israel's targeted strikes on Iran's nuclear and military infrastructure. While initial reactions have been strong, TA Securities (TA) believe oil prices could stabilise unless critical assets, such as the Strait of Hormuz, face direct threats. 'We view the geopolitical premium as transient rather than transformative. The sector's risk-reward profile remains balanced, justifying a Neutral call,' said TA. TA reiterates their preference for oil and gas players with strong export linkages and robust cash generation, such as PANTECH and MISC. The global oil supply backdrop remains relatively resilient despite the geopolitical turmoil. OPEC+, led by Saudi Arabia, holds sufficient spare production capacity to offset most short term disruptions from Iran. According to EIA, global spare production capacity stood at approximately 4.55mn barrels per day (bpd) as of May 2025—primarily held by Saudi Arabia, the UAE, and Iraq. This aligns with widely cited estimates suggesting that Saudi Arabia alone contributes about 3 mil bpd, while the UAE and Iraq collectively account for an additional 1–1.5 mil bpd. This spare capacity, defined as oil that can be brought online within 30 days and sustained for at least 90 days, serves as a vital buffer in stabilising markets should Iranian exports (currently ~2 mil bpd) be curtailed. In parallel, US shale producers continue to deliver robust output levels. Despite a decline in rig counts, production has held steady at 13.4 mil bpd, underscoring the productivity gains from technological efficiency and capital discipline. Other non-OPEC contributors like Brazil, Canada, and Guyana are also ramping up supply, contributing to a broader narrative of a well-supplied global market. As such, while the war may add volatility, the probability of a sustained supply shock remains relatively low unless additional producers or infrastructure become targets. Even amid heightened geopolitical risks, the global demand outlook for oil remains underwhelming. Structural headwinds, including muted industrial activity in Europe, China's tepid post-COVID recovery, and persistent inflationary pressures across major economies, are weighing on overall energy consumption. Airlines, a key post-pandemic recovery driver for jet fuel, are also seeing mixed signals. Ticket bookings are strong but jet fuel efficiency gains continue to limit actual oil consumption growth. Furthermore, the stronger-for-longer interest rate narrative in Western economies has delayed business investment and capped industrial output, particularly in energy-intensive sectors such as manufacturing, construction, and transport. Overall, while supply-side fears can generate temporary price rallies, the demand picture remains insufficiently supportive for a sustained oil bull cycle without further macroeconomic improvement. 'We retain our Neutral view on the Oil & Gas sector, as we believe the risk-reward balance remains evenly poised,' said TA. While geopolitical tensions could intermittently support prices, the presence of ample global spare capacity, resilient non-OPEC supply, and muted demand growth limit the probability of a sustained price rally. In this environment, TA favour stock-specific opportunities over a broad sector call.—June 20 2025 Main image: Metro Holding
Time of India
5 hours ago
- Business
- Time of India
OYO-owned Innov8 sells 3% stake at Rs 1,000 crore valuation to expand co-working business
OYO-owned co-working firm Innov8 has sold 3% stake in the company to investors at a valuation of Rs 1,000 crore to expand its business amid rising demand of flexible workspace, according to sources. Raymond Family Office has emerged as the lead investor, acquiring nearly 2% share, they added. Global travel tech platform OYO Group declined to comment. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 지긋지긋한 빚, 월 상환액 확 줄일 수 있습니다. 오경석 법률사무소 더 알아보기 Undo In January this year, Innov8 had raised Rs 110 crore from investors, diluting 10% of its equity to a clutch of high-profile investors including family offices of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia. Founded in 2015 by Ritesh Malik, Innov8 has more than 30 centres across 10 cities -- Delhi, Gurugram, Noida, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore. Live Events Innov8 has seen over 90 occupancies in its centres, driven by rising demand for flexible office spaces. It plans to reach 100 centres by end of this year. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Innov8 has reported a profit after tax of Rs 62 crore for 2023-24 compared to Rs 2.5 crore in FY23. The demand for managed flexible workspaces has risen post-COVID pandemic. Corporates of all sizes are preferring to set up offices in co-working centres to save on capital expenditure, besides having flexibility, according to property experts. As per the data by real estate consultant Vestian, co-working operators will hold more than 100 million square feet of office space by the end of 2026. OYO Group manages over 1.5 lakh hotel and home storefronts in more than 35 countries. It also offers a range of tech-driven products and solutions to businesses in the hospitality sector. Its global presence includes the US, Europe, Southeast Asia and the UK.
