Category Archives: Seychelles

As Singapore's Prime Minister Lee Hsien Loong announced on Sunday that the country will repeal a colonial-era law criminalizing sex between men, LGBTQ+ rights activists in the country celebrated a long-sought victory.

The law, which did not apply to women, had not been enforced in over 15 years, but its long-standing presence contributed to stigmatizing and discriminating against gay men in Singapore, activists said.

"Sex between consenting men should not be criminalized. There is no justification to prosecute people for it, nor to make it a crime," the prime minister said.

A similar law criminalizing same-sex consensual relations dating back to the British colonial time was struck down in India in 2018 when the Supreme Court ruled the ban to be "irrational, indefensible and manifestly arbitrary."

But in both India and Singapore, the abolition of these laws didn't translate into a complete backing of LGBTQ+ rights, as same-sex marriage remains illegal in both countries.

"Let me reassure everyone that in handling the issue, the government will continue to uphold families as the basic building blocks of society," Singapore's prime minister said on Sunday. "We will keep our policies on family and marriage unchanged and maintain the prevailing norms and social values of our society."

Despite increased acceptance in the past two decades of LGBTQ+ rights around the world, there have also been backlashes and setbacks in many countriesand in 67 nations part of the United Nations, homosexuality is still persecuted as a crime.

A map produced by the International Lesbian, Gay, Bisexual, Trans and Intersexual Association (ILGA) in 2020, seen above, shows the countries where homosexuality is still criminalized.

Since the report was published, Bhutan and Antigua and Barbuda decriminalized consensual same-sex sexual relations between adults, respectively, in 2021 and 2022.

Nearly half of the countries where homosexuality is still criminalized are in Africa. These are the 67 U.N. countries with laws that prohibit same-sex relations (65 by explicit provisions of law, 2 de facto):

In these countries, the punishment for those having consensual same-sex relations ranges from a minimum of two years in prison to a life sentence (in countries including Sudan, Tanzania, Uganda, and Zambia in Africa and Barbados and Guyana in the Caribbean).

In six of the U.N. member states listed above Brunei, Iran, Mauritania, Nigeria (12 northern states only), Saudi Arabia and YemenILGA has full legal certainty that homosexuality carries the death penalty. In five more statesAfghanistan, Pakistan, Qatar, Somalia and the United Arab Emiratessources suggest the death penalty might be imposed for same-sex relations.

Despite these discouraging numbers, the countries listed above are in the minority. Over 64 percent of U.N. state members do not criminalize same-sex sexual acts.

There have also been steps forward in recent years in improving LGBTQ+ rights across the world.

In Mozambique, same-sex sexual acts became legal in 2015, followed a year later by the Seychelles, which outlawed a rule that made sex between two men illegal and punishable with up to 14 years in prison. The country also banned employment discrimination on the basis of sexual orientation.

Trinidad and Tobago reversed laws criminalizing gay sex in 2018, while in 2019 Botswana's court of appeal voted to uphold a ruling that said that criminalizing homosexuality was unconstitutional.

In February 2021, Angola's President Joao Lourenco approved a revision of the penal code allowing same-sex relationships and banning discrimination on the basis of sexual orientation.

Gabon repealed a law criminalizing homosexuality which made gay sex punishable with six months in prison and a large fine in June of that same year.

In December 2021, Chile approved a bill making same-sex marriage legal as well as allowing same-sex couples to adopt, while Switzerland introduced marriage equality in July 2022.

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Homosexuality Is Still Illegal in These 67 U.N. Countries - Newsweek

A staple in tropical countries, breadfruit has a similar taste to potatoes but with an amazing aroma of baked bread. In Seychelles, it is mostly made into mash or chips or roasted over an open fire. The salad palmis, also known as the Heart of Palms Salad or Millionaires salad due to the labour that comes with getting the palm hearts, is a local delicacy consisting of coconut, red peppers, green tomatoes, avocados, green mangoes, coriander, and mint. Being an island destination, seafood is a dominant feature on any menu in Seychelles, and one of the most common and most loved dishes is grilled fish. Seychelles has created its own version of shark chutney. Made with ground shark meat, bilimbi, lime, and turmeric, shark chutney is served with many of the creole main dishes. Sosis Sale (salted sausage) and sosis kreol (creole Sausage) are two types of sausages found in Seychelles, and they make up this popular household dish of sausage rougay. Two types of cassava are found on the island of Seychelles, a sour one and a sweet one called mayok dou, which is the one used as an ingredient in making cassava pudding cake vanilla infused baked treat topped with coconut for some crunch.

SOURCE:IOL

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A Menu Sample of Dishes to Try When in the Seychelles - Africa.com

The Committee against Torture today discussed reports on follow-up to concluding observations, individual communications, and reprisals under the Convention against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment.

Bakhtiyar Tuzmukhamedov, Rapporteur on follow-up to concluding observations under article 19 of the Convention, presenting his report, said that no follow-up reports had been received during the period under review. Several countries had not met the deadlines for submission of follow-up information: Antigua and Barbuda, Bangladesh, Benin, Cabo Verde, Cambodia, Republic of Congo, Djibouti, Gabon, Ghana, Guinea, Holy See, Indonesia, Madagascar, Mozambique, Rwanda, Seychelles, Sierra Leone, Sri Lanka, Syria, Togo, Yemen and Zambia. During the period under review, the Committee received no alternative follow-up reports from non-governmental organizations or other stakeholders in relation to the follow-up replies submitted by States parties. There were no State party reports pending consideration.

The Rapporteur encouraged States parties to make use of the dedicated web page for the follow-up procedure. All relevant documents, including the recommendations identified for follow-up by the Committee, the information submitted by States parties, the correspondence with concerned States parties and the public reports submitted by national human rights institutions, non-governmental organizations and other stakeholders, are available on that web page. A compendium of the follow-up procedure as exercised since 2003 may also be found on that page.

Committee Expert Todd Buchwald, Rapporteur on follow-up to communications presented under article 22 (individual complaints procedure), said the Committee had considered four communications and submitted follow-up observations for each. The communications concerned cases against Morocco, Argentina, Switzerland and Mexico. For the cases against Morocco, Argentina and Mexico, follow-up comments and observations demonstrated a lack of implementation. For the case against Switzerland, follow-up comments and observations demonstrated partial implementation. For each case, the Committee decided to continue follow-up dialogue and consider further steps.

The Rapporteur on follow-up to reprisals, Ana Racu, said that no new allegations of reprisals had been recorded by the Committee since it had last met. Reviewing cases before the Committee, she referred to two cases. The first case concerned alleged reprisals faced in a Cypriot prison. A copy of the State partys response to allegations was available on the Committees website. The complainant had alleged that after lodging a complaint with the Committee, he had become a target of pressure from other prisoners, who were encouraged by the prison administration. The complainant had been pressured to withdraw his complaint with the Committee.

The second case referred to allegations of reprisals in Kazakhstan against an individual imprisoned in a penal colony. The Rapporteur had sent a letter asking the State party to urgently provide information regarding the situation described by the complainant, including measures taken to ensure that he was not subject to reprisals due to his cooperation with the Committee. In response, the State party had denied the allegations of the complainant. The Committee would continue to follow-up on these two cases.

Summaries of the public meetings of the Committee can be foundhere, while webcasts of the public meetings can be foundhere. The programme of work of the Committees seventy-fourth session and other documents related to the session can be foundhere.

The Committee will next meet in public on Friday, 29 July at 10 a.m. to adopt its concluding observations on the reports of Botswana, Nicaragua, State of Palestine and the United Arab Emirates, which were considered during the session, and conclude its seventy-fourth session.

Link: https://www.ungeneva.org/fr/news-media/meeting-summary/2022/07/committee-against-torture-discusses-reports-follow-concluding

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Committee against Torture Discusses Reports on Follow-up to Concluding Observations, Individual Communications, and Reprisals - OHCHR

FIFI PETERS: As we all get used to travelling again its probably useful to know how far the South African passport can take you, hassle- and visa-free. To talk about how strong it is and how other passports on the continents also stack up, as well as in the rest of the world, Im joined by Amanda Smit, the head of South, East and Central Africa at Henley & Partners.

Read: These are the worlds most (and least) powerful passports in 2022

Amanda, thanks so much for your time. I was just looking at the [Henley Passport Index] this year that measures a whole lot of passports 199 passports across 227 travel destinations, Im told. Seeing that South Africas passport is the third-strongest in Africa after Mauritius and the Seychelles, based on this years index, talk to us about that and how this years results compare to last years.

AMANDA SMIT: Hi, good evening. Thank you very much for having me and good evening to your listeners as well. So yes, if we look at the African countries at the moment, and which ones are actually sitting with the most powerful passports, the Seychelles definitely has the most powerful passport on the African continent with visa-free or visa-on-arrival access to about 153 destinations. Thats out of 227 destinations worldwide, and its currently ranked in 28th place on the worldwide index that measures global mobility and travel freedom.

To put this in context, the most powerful passport in the world is the Japanese passport, currently with record-breaking access to 193 destinations. In second place on the African continent is Mauritius with 146 destinations, ranking at 33rd place. That is followed by South Africa with access to 105 destinations, ranking number 55, under 2:05 passport index.

So if we compare that to what weve seen in the past, there has actually been very little real movement on the index, especially during the Covid pandemic, due to the exceptional travel restrictions in place worldwide over the past two years. South Africa has risen by only one rank in the index since 2021, when it sat at 56th place. And the Seychelles has also risen by only one rank. But Mauritius has stayed firm at 33rd place on the ranking.

FIFI PETERS: How is that determined, though just the number of countries that you can travel to visa-free for a respective country? What goes into that determination?

AMANDA SMIT: That is an original ranking of all the worlds passports, and its based on exclusive and official data from the International Air Transport Association. It really is measured based on the number of destinations that the holder of that passport can access without a prior visa.

FIFI PETERS: Perhaps put differently, what gives Seychelles and Mauritius, for instance, such a high score? And the likes of Afghanistan I see that Afghanistan is the least powerful passport in terms of the number of countries that you can access without a visa. What distinguishes them?

AMANDA SMIT: Obviously the ranking is based on visa-free access. So if we look at all the countries in the world with all of their passports, number one at the moment obviously is Japan, because they can access almost all of the countries in the world, 193 out of 227 destinations. And then of course, if you look at South Africa, for example, we are at number 55 in the world because we can only access 105. And then Afghanistan can only access 27 destinations in the world visa-free. That really is the only determining factor.

So when we see a shift in ranking, for example from one year to another, its not really so much a case of the passport losing strength, but it is more a case of the higher passport gaining strength and then overtaking the other counterparts, putting them at a lower ranking in terms of destinations.

FIFI PETERS: What makes that happen, then? How do certain countries increase the strength of their passport?

AMANDA SMIT: There are many visa waivers and processes in place, and there could be many drivers. It could be based on trade relations, for example. It could be just the restrictions put in place. Obviously weve seen massive changes during the Covid pandemic, where many countries blocked certain other nations from entering. It was however very temporary at the time, but it had a massive reduction in the passport strength at the time. There are many factors that can lead to that. So its either countries gaining more visa-free access through reciprocal relationships with other countries, or some closing down because of a variety of reasons.

FIFI PETERS: All right. Amanda, thanks so much for those insights. I thought it was really interesting and I hope the listeners were also interested in that conversation. But well leave it there. Amanda Smit, the head of South, East and Central Africa at Henley & Partners has been discussing passport power.

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Japan's passport is the most powerful in the world where does SA rank? - Moneyweb

Aaah, the romantic notion of an island holiday marked by long, lazy days on a tropical beach with a never-ending flow of exotic cocktails and seafood platters that entice you. Dont forget the sunset, simply the best youve ever seen until the next evening.

South Africans are spoilt for choice, with a variety of tropical islands within relatively easy reach, and options catering for a range of budgets. If you put a few more ZAR away and co-opt some like-minded friends to share in your tropical frivolities, not to mention the costs, an adventure awaits when you up your island explorer game and embark on a sailing trip around the 115 islands that make up the Seychelles.

Well, at least as many as you can pilot your catamaran around in seven days.

The archipelago lies just off East Africa. Mah, the main island, houses the capital city of Victoria. It also serves as a hub for visiting the other islands and will be your first Seychellois contact as you encounter the turquoise waters of this island paradise. The Eden Island development on Mah is where many charters are moored and nothing beats the feeling of your first walk along the gently swaying jetty, just moments before laying eyes on your home for the next seven days.

Here are five things every South African should be sure to do, when sailing around Seychelles.

Step onto the jetty on La Digue Island and you will immediately understand why it is known as the bicycle island. They are everywhere and easy to rent.

Find a colour that speaks to your adventurous soul, adjust the saddle and youre good to go. I spent a glorious Saturday morning taking in island life along the main road around La Digue.

Discover the brightly coloured faade and white trim of the Notre Dame de LAssomption church, stop and say hi to one of the giant Aldabra tortoises on the island they live beyond 100 years and stock up with some fresh fruit at the local market. When you find yourself out of breath, courtesy of a few ups and downs along the road, pop in at Takamaka Rum Caf for a drink and a dip in the ocean.

The terrain is easily navigable (even I could manage it) but dont feed the giant tortoises, locals do a good job of looking after them.

This small 1.82 square kilometre granitic island, about 52km from Mah, is a nature-lovers paradise. In fact, much of Seychelles is exactly that but Curieuse lays claim to having the longest boardwalk in the Seychelles.

Until the mid-20th century the island was home to a quarantine station for lepers. Landing at Baie Lazare, follow the trail up the rocks and through the mangrove forest, parts of which include the boardwalk, for a gentle 45-minute walk across the island to Anse St Jos.

If you have a capable skipper, as we did, ask them to arrange a spot for you at the beach barbecue at the end of your walk. Lunch starts at 12:30 and you get to share Creole cuisine at a communal table and chat to fellow travellers.

Extensive efforts by Nature Seychelles, dating back to the early 1970s, have transformed this former coconut plantation island into a carbon-neutral bird sanctuary. These efforts have been well rewarded with several bird species being brought back from imminent extinction, including the magpie robin.

Embark upon a guided tour through the tropical forest, which is home to a variety of birds, giant tortoises and lizards. They dont see humans as a threat, thanks to the sanctuary status, which allows for close encounters. Be warned; it is a tropical forest so be sure to wear a long-sleeved shirt and long pants and stay away from black clothing. Mosquitoes abound in their thousands and love the colour black. Just ask the guy who wore his speedo on our tour.

Victoria is a bustling city on the north-eastern side of Mah. Originally settled in 1778 by the French, the city has many attractions worth a visit.

The Sir Selwyn Selwyn-Clarke Market dates back to 1840 and is best visited early in the morning to take advantage of the fresh fish and spices on offer. Keep an eye out for Little Big Ben in the centre of town, installed in 1903 to mark the death of Queen Victoria two years earlier.

Back on the Eden Island development, dance up a storm at the Boardwalk Bar and Grill. They have a DJ in the evenings and he is open to suggestions to tailor your evening entertainment.

Located on the north-western coast of Mah, Beau Vallon is one of the most beautiful beaches on the island. Clear waters and coral reefs lure divers and snorkellers, while the street food vendors along the promenade draw in foodies.

Tap into the true essence of island life, and its slower pace, in this seaside town that has a variety of bars and restaurants.

The Seychelles is a year-round destination, with April being especially humid. Many carriers fly into Mah I flew in on Ethiopian Airlines after a brief stop-over in Addis Ababa. I was a guest of charter company Sunsail Holidays, spending my seven days on a four-cabin catamaran, which allowed for sufficient space on board (we were four adults) with great yacht manoeuvrability around the islands.

The skipper is included in the catamaran hire and I soon learnt that this role is essential to a successful trip not only in terms of technical knowledge, but also hospitality and insights into local spots and culture. Our skipper, Danielle Bamboche, was a star. She was able to secure fish from passing fishermen, find stores on remote islands and shared many Creole cooking secrets with us. Legend.

An island-hopping holiday trumps the traditional model of being on one island for seven days. Book the cat, get to Mah and start sailing from one gorgeous beach to another, interspersed with dramatic sunsets and sunrises that change like the eternal summer wind blowing on the Indian Ocean.

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Five things South Africans should do in the Seychelles - Mail and Guardian

VICTORIA, Seychelles--(BUSINESS WIRE)--The global cryptocurrency exchange KuCoin announced an official partnership with Ertha, a metaverse with mass-market appeal, to jointly launch an Immersive Metaverse Office with official opening on July 28, 2022, which is another step for KuCoin to expand its reach in Metaverse. As a pioneer in this industry, KuCoin has already put its footprints into the Metaverse last year.

The cooperation marks a significant move for both parties. For Ertha, it is the first successful integration of a real-world brand into their Metaverse; For KuCoin, it accelerates its progress towards becoming the most metaverse-friendly crypto exchange.

With the partnership in effect, players who log in to Erthas Early Beta will be greeted by a state-of-the-art and fully-functional KuCoin office which supports players to stop by to browse live market charts and begin trading within seconds!

Erthas Beta is open to all and has given players a closer look at its gameplay mechanics and role-playing systems. In addition to exploring a large metropolitan area, Ertha recently launched the character creation tool that opened up a host of exciting options for players who want to create a metaverse-ready identity.

About Ertha

Erthas world is a complex and intricately designed playspace ripe for the creation of new governments, economies, and shaky alliances between its player base. The Metaverse is divided into 350,000 land plots, each of which collects taxes, fees, and other forms of revenue from the transactions taking place on them. Players must balance production, trade, and financial budgets, in order to stay one step ahead of the competition.

For those looking for an introduction to metaverses with the possibility to play and earn, Ertha represents an opportunity like no other.

Find more from its social media channels:

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides Spot trading, Margin trading, P2P fiat trading, Futures trading, staking, and lending to its 20 million users in 207 countries and regions.

In 2022, KuCoin raised over $150 million in investments through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021 Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.

To find out more, visit https://www.kucoin.com.

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KuCoin Expands its Reaching in Metaverse by Launching an Immersive Metaverse Office in Ertha - Business Wire

Jul. 15Dubai's flagship airline, Emirates, hopes to engage withHeathrow Airport(LHR) to resolve the 'ongoing travel chaos' over the capping of departure numbers to 100,000 passengers. In an interview with theBBC, the president ofEmirates Airlines, Tim Clark, said, "We are going to work with them (LHR), and I am sure they will accommodate us without taking the draconian measures they suggested two days ago."

Clark said, "The travelling public must come first about the flights they booked and paid for. We have school holidays coming out of theUK... and full flights into theIndian Oceanoperations,Maldives,Mauritius,Seychelles,South Africa, and such countries."

He confirmed, "We cannot afford to let our people down. We will engage withHeathrowand get it sorted within the next week or two."

Summer plans of thousands of holidaymakers were thrown into chaos afterBritain'sbiggest airport took the unprecedented step of capping passenger numbers. The airport banned daily outbound numbers from exceeding 100,000 over fears airlines can't safely handle any more due to staff shortages.

In an open letter to passengers on the capacity cap,London Heathrow AirportCEOJohn Holland-Kaye, said, "We assess that the maximum number of daily departing passengers that airlines, airline, ground handlers and the airport can collectively serve over the summer is no more than 100,000."

He added. "The latest forecasts indicate that despite the amnesty, daily departing seats over the summer will average 104,000, giving a daily excess of 4,000 seats. On average, only about 1,500 of these 4,000 daily seats have been sold to passengers."

Moreover, Kaye requested airline partners to stop selling summer tickets to limit the impact on passengers. FollowingEmirates Airlines'strong objections, Kaye has been ordered by theBritish Civil Aviation AuthorityandDepartment of Transportto confirm by noon Friday 'a credible recovery plan' as airlines clash with the airport over flight caps.

In response to the announcement,Emirates Airlinesstrongly rejected demands made byHeathrow, calling them entirely 'unreasonable and acceptable'. Clark also said Emirates sold out many of the tickets in theUKsector months ago.

"This is difficult and challenging for us when many of them (tickets) have been sold out for a few months. The ability for us to re-book those passengers to other flights is impossible because they are all full.Gatwickoperations are full, and other carriers are full. We are faced with a real possibility that passengers would be arriving atHeathrowand unable to travel."

He added, "This is something we (Emirates) do not do, and we do not accept these terms." Clark said the airline began its A380 operations out ofHeathrowin October last year.

"We were one of the first airlines to return to a pre-pandemic schedule atHeathrow, and we've been vocal about the uptick in demand post-pandemic," he told theBBC. Clark saidEmirates Airlinesand Dubai Airports got into a high state of readiness to deal with growing demand.

When asked if the push-back from Emirates would put passengers at risk, Clark said, "I'm not altogether sure whatHeathrowmeans by that. We all have obligations towards the health and safety (of passengers), be it the airline or the airport community. To my knowledge, we in Emirates and our grand handling operations dnata do not engage in the activities which compromise the safety of operations working our flights or the staff."

According to British media sources,Heathrowis only resourced up to 70 per cent capacity while passengers are returning to 80 to 85 per cent pre-pandemic levels resulting in chaos at the airport.

Clark added, "The ground handling operations for Emirates andHeathrow(dnata), we own the company that does it. Although dnata is still running at 75 to 80 per cent, they are managing everything without compromising the safety of operations." dhanusha@khaleejtimes.com

___

(c)2022 the Khaleej Times (Dubai, United Arab Emirates)

Visit the Khaleej Times (Dubai, United Arab Emirates) at http://www.khaleejtimes.com

Distributed byTribune Content Agency, LLC.

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Emirates Hopes To Resolve 'Travel Chaos' at London Heathrow Within 2 Weeks - Aviation Pros

Tai Ping Shan (TPS) Capital created a complicated corporate structure that obscured its relationship with Three Arrows Capital, and later denied any connection aside from passive investment, claiming it was independent. But court filings prepared by Three Arrows liquidators show the two are tightly connected.

In a statement, TPS said that, TPS has its own independent operations and was acting as an agent with respect to the loans between lenders and 3AC. However, court documents show it was actually Three Arrows acting as a guarantor for TPS for loans on which it later defaulted, according to demand letters referenced in court filings.

The revelation adds new details to the tangled web surrounding the former Singapore hedge fund, which couldnt sustain the pressure of a rapidly onsetting bear market and the collapse of Luna.

According to one demand letter found in court filings, TPS Capital took out a USDC 20 million loan from Arrakis Capital in late April and defaulted on it in mid-June as TPS was unable to honor a margin call for its trading account, contribute additional capital, or begin repayment of the loan.

A similar structure listing Three Arrows as a guarantor for a TPS Capital loan was found in a demand letter issued by Mirana Corp., a Seychelles-registered crypto fund, for a loan made in early June.

Term sheets for the loans were not included in the filed court documents.

According to the document, the loan required TPS Capital to contribute additional capital should the price of bitcoin decline by more than 10% since the origination of the loan. In addition, by June 14 the price of bitcoin breached the margin call level of $23,510, yet TPS did not respond to the lenders attempts to contact it.

Mirana then sued Three Arrows in Singapore, but filings at the time did not mention TPS Capital.

As TPS Capital received demand letters from its creditors, court documents, citing on-chain data, show that Three Arrows transferred $31 million in crypto to a wallet controlled by TPS Capital.

Story continues

While the amount is similar to that owed by TPS Capital to creditors, it's not known if that was the intent of the fund transfer.

The court filing also notes that Three Arrows transferred USDT 10.9 million to an otherwise unknown address, which then transferred it to a second unknown address.

In the case of Miranas loan to Three Arrows, all correspondence was directed to Three Arrows co-founder Kyle Davies. For Arrakis loan, it was directed to Ningxin Zhan, who is listed as an authorized agent for TPS and an operations contact at Three Arrows.

Despite claims of being passive investors, Three Arrows founder Su Zhu, and Kelly Kaili Chen, spouse of Kyle Davies, own over 80% of TPS BVI entity, which in turn owns 47.5% of the Singapore parent.

Tai Ping Shan (TPS) Capital Ownership Chart (court filings)

This wasnt previously known, because BVI law directors and shareholders of a company in the territory arent publicly disclosed.

Another firm called Three Lucky Charms Ltd owns an equal amount of shares, but this company isnt mentioned in the court filing.

Caymans-registered Tai Ping Shan, which owns 5% of the Singapore entity TPS Capital, lists Paul Muspratt, the managing director of West Bay Global Services, a corporate services provider, as one of its directors, alongside Steven Sokohl, another West Bay employee, and Yi Long Fung as directors.

Muspratt, Sokohl, and Fung are also listed as directors of ThreeAC Ltd, the managing fund of all of Three Arrows entities.

A chart outlining the relationship between different Three Arrows entities (Court Filings)

Aside from the role as director with ThreeAC Ltd, Fung isnt mentioned again in the court document. According to a directory of Canadian federally incorporated businesses, he is listed as a director of TPS Capitals Canadian-registered entity, which operates by the same name and was founded in February 2022.

Three Arrows is due back in court in Singapore on July 26 for a pre-trial conference regarding the Mirana lawsuit. Meanwhile, in the United States, the case continues before U.S. courts in New York on July 28. Neither Three Arrows nor TPS Capital has declared bankruptcy in Singapore as of the evening of July 19 Asia time, according to the Singapore Insolvency Office.

TPS Capital did not immediately respond to a request for comment from CoinDesk.

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Crypto Trading Firm TPS Capital Denied Ties to Insolvent Three Arrows. Court Documents Indicate a Connection - Yahoo Finance

Manchester City added its fourth Premier League crown in five years in 2022.

Cryptocurrency exchange OKX is doubling down on Manchester City. On Sunday, the company announced it had reached an agreement to expand its existing partnership and become the clubs official training kit partner for the 2022-23 season. The deal will also see select Manchester City players star in crypto education content produced by OKX.

Financial terms were not disclosed, but a source tells Forbes that the expanded agreement will net the reigning Premier League champions more than $20 million this season. Manchester City previously named OKX its official cryptocurrency partner in March as part of a multimillion-dollar arrangement. Forbes estimates the club is worth $4.25 billion, the sixth-most-valuable soccer team in the world.

Crypto money has poured into sports over the past few years as the industry continues to develop a mainstream presence. FTX, for instance, signed up several top athlete endorsers, including Tampa Bay Buccaneers quarterback Tom Brady, Golden State Warriors star point guard Steph Curry and Los Angeles Angels two-way phenom Shohei Ohtani. In February, Manchester Citys crosstown rival Manchester United added blockchain company Tezos as a sponsor, in a deal worth $27 million annually, according to the Athletic. Last year, French soccer club Paris Saint-Germain signed partnerships with fan token provider Socios.com and trading platform Crypto.com. FIFA also announced in March that Crypto.com would be the exclusive cryptocurrency trading platform sponsor of Qatar 2022. A Nielsen report published this year estimated that crypto spending in sports would rise to $5 billion by 2026.

But the recent crypto downturn, which sent the value of Bitcoin plunging below $20,000 in June, has cast doubt on the future of the space. Last month, Coinbase, BlockFi, Crypto.com and Gemini announced layoffs, resulting in the loss of nearly 1,700 jobs. BlockFi, which Pitchbook last valued at $4.8 billion, is reportedly finalizing a deal to be sold to FTX for $240 million, according to Yahoo Finance. Coinbase stock is down roughly 76% from the start of 2022. On the sports front, FTX pumped the brakes on a potential jersey patch sponsorship with the Los Angeles Angels, according to the New York Post. The Washington Wizards also had a deal with an unnamed crypto company fall through.

The market has definitely slowed, says Joe Favorito, a veteran sports business consultant and Columbia lecturer. He adds: You havent seen a patch come off an umpires uniform or the name removed from an arena. But the ancillary spending has definitely been cut back, whether thats major ads and things like the NBA Finals.

OKX is pushing ahead with expansion plans despite the downturn. In addition to its Manchester City partnership, the companys director of financial markets told CoinDesk recently that it plans to grow its workforce by 30% with a goal of reaching a staff of 5,000. Fidelity Digital Assets and Binance have announced similar intentions in the past few months.

OKXs investments in our partners and our team are market agnostic because our principals and beliefs havent changed, says OKX chief marketing officer Haider Rafique. We are intentional about selecting partners who reflect this focus, which means we didnt spend the bull run making sports deals at an unsustainable rate.

Founded in 2017 by embattled crypto entrepreneur Star Xu, OKX operates in more than 180 markets internationally and has more than 20 million users. Based in the Republic of Seychelles, it is the second-largest crypto exchange by derivatives and spot trading volume. In 2021, OKX says, it processed more than 25 billion trades, with volumes exceeding $21 trillion.

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Crypto Exchange OKX Is Paying $20 Million-Plus To Sponsor Manchester City Training Kit This Season - Forbes

The members of Colombo Security Conclave include India, Maldives, Mauritius, and Sri Lanka, while Bangladesh and Seychelles are the two observer nations

The members of Colombo Security Conclave include India, Maldives, Mauritius, and Sri Lanka, while Bangladesh and Seychelles are the two observer nations

The sixth Deputy National Advisers' meeting of the Colombo Security Conclave held in Kochi on Thursday resolved to jointly combat the increasing threats related to maritime safety, terrorism, trafficking and organised crime affecting the partner nations.

A roadmap for cooperation was discussed at the meeting attended by the members that include India, Maldives, Mauritius, and Sri Lanka. The representatives of Bangladesh and Seychelles the two observer nations in the conclave also shared their views on the occasion.

Suggesting the formulation of flexible prosecution laws among the member countries, General Shavendra Silva, Chief of Defence Staff, Sri Lanka recommended setting up joint working groups and agencies to collect, store and disseminate intelligence on common developments as an effective way to tackle the various threats.

"We commonly suffer from terrorism, violent extremism and radicalisation of social groups. In this increasingly connected world, the tendency of cooperation between radical groups in regional countries has been a common phenomenon. Trafficking and organised crimes have been a substantial security threat. Among these crimes, proliferation of small arms, trafficking of drugs, international crime are some of the common threats pertaining to the security of our nations," he said.

Ahmed Latheef, Foreign Secretary of Maldives, said that the security outlook of the partnering nations needs to remain dynamic as the common threats continue to evolve in unprecedented ways.

"The protection of coastal communities and marine resources remain our highest priority. Unfortunately, climate change has increased the frequency and severity of detrimental natural disasters. Furthermore, we remain vulnerable to threats of trafficking, organised crime and terrorism, which emanate through the maritime domain as well. It is truly in our absolute best interests to increase our maritime security awareness. We must ensure that every member country needs to be on the same footing, especially in terms of skills, capacity and understanding. We have to strive to have a culture whereby information, knowledge and experience flow through the partner nations," he said.

Yoidhisteer Thecka, Principal Coordinator of Security Matters at the Prime Minister's Office, Mauritius, suggested a coordinated approach among the partner nations to protect the mutual interests and to tackle common security threats. "Some of the major challenges involve issues like cyber security, terrorism, radicalisation, drugs, illegal and unregulated fishing and environmental damages. The extended use of technology and bilateral cooperation will strengthen our maritime security and safety," he said.

Mohammed Abdul Kalam Azad, Defence Advisor, Bangladesh High Commission in New Delhi sought the help of India in ensuring the safe, speedy and sustainable repatriation of forcibly-displaced Myanmar nationals to their country of origin. "The problem of security is becoming increasingly acute as thousands of Myanmar nationals, facing an uncertain future, are becoming attracted to violence, extremism, radicalism, drugs and human trafficking. Bangladesh expects an effective role from India as we share a common sense of security arising out of this situation," he said.

Colonel Simon Archange Dine, Chief of Staff of Defence Forces, Seychelles, called for collaboration among the partner nations in protecting the oceans and marine resources. We have a common duty to transform our youth to become the protectors of these valuable assets, he said.

Vikram Misri, Deputy National Security Advisor, India said maritime safety and security will always be paramount to the conclave.

It will remain central to many of our deliberations. All of us also remain vulnerable to the threats of trafficking, organised crime and terrorism particularly in light of the recent developments in our neighbourhood. Our law enforcement agencies have been working together on various aspects of the pillars of our cooperation and will continue to carry out joint operations in view of our mutual interests, he said.

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Colombo Security Conclave agrees to tackle common threats - The Hindu