Here is what you need to know on Tuesday
• Fears of a global contagion.
Turkey’s currency hit another record low, dragged down by soaring inflation, economic mismanagement and tensions with the U.S. There are growing fears of an impending economic meltdown that could spread to other emerging economies.
The plunge of the lira hit stocks in Asia and Europe, and played havoc with currency markets. The Indian rupee dropped to a record low against the dollar; the Indonesian rupiah flirted with a three-year low.
China’s main stock index lost nearly 2 percent at one point on Monday, but largely recovered. In Tokyo, the main index closed 2 percent lower. Stocks in Seoul fell 1.5 percent. European markets fared only slightly better. U.S. markets dipped but didn’t sag..
Beijing also further weakened its currency, the renminbi, against the dollar, setting the benchmark rate for trading in Shanghai at its weakest level in 15 months.
• President Trump signed a defense-spending bill named in honor of Senator John McCain — without once mentioning Mr. McCain — at Fort Drum Army Base in New York.
The bill authorizes $717 billion for military funding over the next year. Mr. Trump called it the most significant investment in the military in modern history.
As is often the case, there were many threads to follow in news related to the president.
Peter Strzok, the F.B.I. senior counterintelligence agent who disparaged Mr. Trump in text messages, was fired for violating F.B.I. policies. He helped oversee the Hillary Clinton email and Russia investigations.
And as the fraud trial of Paul Manafort enters its second week, Times reporters looked back at his lobbying career.
Agence France-Presse — Getty Images
• “There is no such thing as re-education centers.”
China on Monday flatly denied accusations from U.N. experts that it had detained more than a million ethnic Uighur Muslims in re-education camps in its western Xinjiang region. The denial came after a U.N. official last week spoke of Xinjiang becoming “something resembling a massive internment camp,” with mass detention and disappearances.
But China stood firm: A senior Chinese Communist Party official said the country’s ethnic minorities lived in peace and contentment enjoying freedom of religious belief. Above, Chinese military police at a rally in Xinjiang, last year. Beijing has progressively tightened security in the region.
• In Afghanistan, after four days of fighting, the Taliban appear to control most neighborhoods in the city of Ghazni. They have also taken over most of the province’s rural areas.
That raises the prospect that if the insurgents do fully take the city, they may be in a position to control an entire province for the first time in the 17-year war in Afghanistan.
• “besity in our monks is a ticking time bomb.”
Buddhist monks are at the front lines of a fight against obesity in Thailand, which is the second-heaviest nation in Asia, after Malaysia. A study found that nearly half of Thai monks are obese, more than 40 percent have high cholesterol, nearly 25 percent have high blood pressure and one in 10 are diabetic.
But the monks consume fewer calories than the general population, and are forbidden to eat after midday. Researchers found one major culprit: To keep their energy up, many monks rely on highly sweetened beverages, including sugary drinks.
Kiichiro Sato/Associated Press
• Elon Musk offered a fuller explanation of his “funding secured” Twitter post on Aug. 7 about taking Tesla private. He said, among other things, that he had held meetings with representatives of a Saudi sovereign wealth fund who expressed an eagerness to help him take the electric-car maker private.
• Biometrics beyond fingerprints: To fight fraud, some large banks and retailers are amassing tens of millions of profiles that can identify customers by how they touch, hold and tap their devices.
• Independent music labels called on European antitrust regulators to block Sony’s $2.3 billion bid for control of EMI, saying the merger would give the Japanese conglomerate too much market power.
In the News
Ritchie B Tongo/EPA, via Shutterstock
• In Taiwan, a fire raged through a floor of Taipei Hospital filled with elderly patients, killing at least nine people and injuring two dozen more. [The New York Times]
• Aretha Franklin, 76, the legendary “Queen of Soul,” is gravely ill, family members told a Detroit news outlet on Monday. [Variety]
• The U.S. is set to return three church bells to the Philippines that were taken as war trophies 117 years ago. Their ringing set off the worst U.S. defeat in the Philippine-American war and spurred retaliation that left thousands dead. [The New York Times]
• President Moon Jae-in of South Korea will visit Pyongyang next month for his third summit meeting with North Korea’s leader, Kim Jong-un. [The New York Times]
• A Swedish doctor visited Gui Minhai, the Hong Kong publisher who has been held by Chinese authorities off and on since 2015, when he was abducted in Thailand. [Reuters]
Tips for a more fulfilling life.
• How to enjoy nature on your next urban getaway.
• Five cheap(ish) things for every college dorm.
• Recipe of the day: Keep pasta simple: Zucchini, good ricotta and basil will do the tri
• The top of Mt.
Fuji is one of the few places in Japan where a postmark is still more coveted than a “like” on Instagram or Facebook. But hauling all that mail down takes effort, even in the absence of snow. That’s where the bulldozer comes in.
• In memoriam: Bui Tin, 90, a North Vietnamese colonel who accepted the surrender of South Vietnam in 1975, but who later fled Vietnam and became a critic of its ruling Communist Party. And mourners mobbed the funeral of Ellen Joyce Loo, 32, a singer-songwriter and advocate of LGBT rights in Hong Kong who suffered from bipolar disorder.
• And cautious hope for hemophiliacs. After trying for decades to develop a gene therapy to treat hemophilia, the inability to form blood clots, researchers are starting to succeed.
Twentieth Century Fox
It’s just a jump to the left, and then a step to the right. Put your hands on your hips, and bring your knees in tight.
But as fans of the “The Rocky Horror Picture Show” well know, it’s the pelvic thrust that really drives you insane. The cult classic film opened in London on this day in 1975.
Often described as a campy take on horror and science fiction films, the movie originally premiered on the London stage in 1973, and was summed up in one breathless sentence by a Times review: “Two young innocents are entrapped by Frank N. Furter, a mad, transvestite inventor from outer space, who has created a beefcake monster, Rocky Horror, who looks as though he has just stepped from the centerfold of Playgirl.”
Shortly after the premiere of the film version, it was briefly shelved before being resurrected at a midnight screening in New York. A group of fans made weekly pilgrimages to the small theater, sat in the front row and screamed for their favorite characters. A social phenomenon was born, and the film has remained in theaters ever since.
We’ll end with the words of Frank N. Furter: Don’t dream it. Be it.
Remy Tumin wrote today’s Back Story.
This briefing was prepared for the Asian morning.
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A White House proposal on immigration will contain a path to citizenship for up to 1.8 million young people brought into the United States as children as part of a package that also includes $25 billion for a border wall and other security measures.
U.S. citizens and green card holders will only be allowed to sponsor their spouses and minor children to enter the country.
DREAMers who came to the United States as children.If they do a great job, I think it’s a nice thing to have the incentive of, after a period of years, being able to become a citizen,” Trump said. That period would be 10 to 12 years, Trump said.
DREAMERS: Scheme of Trump to incentive people who came to the USA in childhood (1.8 million)
DACA: Deferred Action for Childhoods Arrival, Obama’s scheme to obliged people who came to the USA in childhood (800,000)
I think for America at first, you think for your country first
I am here for a simple message: There has never been a better time, to hire, to built and invest. America is open for business and we are competitive again. The American economy is by far the largest economy in the world. We just had significant tax cuts.
DREAMers. The bill would provide a path to citizenship for undocumented immigrants who came to the U.S. as children, known as DREAMers. The number of immigrants who could qualify would be larger than the group protected under the Obama-era Deferred Action for Childhood Arrivals program DACA. That program covered nearly 800,000 DREAMers, but Miller said the new plan could protect up to 1.8 million people, which is “substantially larger than the DACA population.
That plan mirrors a bipartisan Senate proposal that would allow DREAMers to become citizens after 12 years, or 10 years if they were approved for DACA
U.S. citizens and green card holders will only be allowed to sponsor their spouses and minor children to enter the country.
Trump ordered U.S. trade officials in August to investigate whether Beijing uses market access restrictions or other tools to compel foreign companies to hand over technology. A decision is expected as early as this month, though American officials have set no date.
“If the United States insists on unilateral and protectionist practices that will undermine the interests of China, we will take all necessary measures and resolutely safeguard the legitimate rights and interests of China,” Gao said at a regular briefing.
If the investigation concludes Beijing acted improperly, Washington could seek remedies either through the WTO or outside of it.
The United States is disrupting the international trading order by carrying out the “Section 301” investigation under its own laws instead of through the World Trade Organization, said Commerce Ministry spokesman Gao Feng
Changes outlined in one of the many Brexit-related bills would force companies to pay the levy on goods at the point they enter the UK, rather than after they are sold.
Business groups said the change would create severe problems for UK companies, including cash flow issues and additional bureaucracy.
Business groups say changes will create major bureaucratic headache and cashflow problems for more than 130,000 firms
At least 130,000 UK firms will be forced to pay upfront import VAT once Britain leaves the single market, under which import tariffs are not imposed on goods bought from other EU countries.
More than 100,000 UK companies will be forced to pay VAT upfront after Brexit, under controversial government plans being debated by Parliament this week.
Currently, firms can register with HMRC for permission to import some goods from the EU free of a VAT. They register the charge but the levy is added to the price of the product and paid by the customer.
One small business owner told The Independent the changes would be “disastrous” for her company.
Sally Stephenson, who owns The Pencil Case and The Toy Box, two independent high street shops in Cowbridge, South Wales, said: “My business isn’t big enough to import directly, so I buy stock from wholesalers who do. At the moment EU products are imported into the UK without any VAT added, so those lower costs are passed all the way down the supply chain to end-users like me.
Under the new system being planned, the Government said, “import VAT is charged on all imports from outside the UK”.
Businesses would then have to pay the tax upfront and claim it back at a later date, meaning they would be spending significant sums of money long before they recoup them in sales.
Industry groups said the change could create major problems for UK importers and retailers.
There’s a frightful, terrifying, untidy truth about being a business person. The individuals who long for business enterprise consider the opportunity of having the capacity to pursue enormous dreams, the excite of building domains and the delight of making a blemish on the world by showing improvement over some other individual in a field has yet done.
Business is to be sure fun, fulfilling and liberating. Be that as it may, there’s posterior to business that no one jumps at the chance to discuss much. Being a business visionary can be tiresome, soul-breaking and out and out intense. I trust you have tough skin. You’ll require it. Give me a chance, to begin with, a couple of hard facts of being an entrepreneur:
1: You may be annoyed
On the off chance that you think meeting your supervisor’s due dates or requests is intense, take a stab at meeting your own, particularly when your own investment funds are hanging in the balance. Possibly you’ve officially taken out a moment contract and your charge cards are maxed out. Or, on the other hand possibly you’ve acquired cash from family and companions and you’re on the snare to pay them back, ASAP. This sort of weight lights a fire under even the most laid-back identities.
2: Work-life balance gets disturbed
In the building phases of a business, looking for work-life adjust is worthless. Work will turn into your life. When you are at home working in your yard, at your child’s soccer match or preparing to hand over during the evening, you’ll be considering your business.
3: You never feel
With every one of these parts, there’s once in a while a minute that you feel your work is “done” for the day. There’s continually something more you could be doing.It’s a troublesome adjust to strike.
Think 10 business ideas – shortlist 3 of them – Finalize one of them – identify its scope- Plan how to start it – Its return on investment – divide it into phases – how much it will cost – Arrange your finance – How much time it will take – How you will going to manage time –
Mandatory factors: ability to take risks – Stay Dedicated – Should have to plan B & C – Never Give up – would be Long Journey – Should be purposeful – You may fail – never be scared of that
4: You may fail initially
The main emphasis or usage of your thought will frequently not be right. That is not on account of you’re not brilliant, not doing the correct things, or some other motivation to drop the hammer on yourself. Things being what they are, this is really a decent sign. No thought survives its first collaborations with its clients and expects you to orchestrate criticism to adjust to the client.
5: It may be a long journey
Duplicate everything by two, including the things within your control. At the point when things take longer, you now and again feel that you’re treating it terribly or nobody truly minds. As a general rule, every other person has different arrangements and obligations on the table. By figuring this into the desires of your startup, it makes a considerable measure simpler to plan for propelling items, letting the big dog eat, and that’s only the tip of the iceberg. Additionally, be tenacious and get the other party what they require at the earliest opportunity.
6: There Is No Silver Bullet
There shouldn’t be and more often than not never is a solitary arrangement that can make your organization. Certain arrangements or clients can take you to another rung on the stepping stool, yet there are as yet numerous more rungs to move en route. You shouldn’t take a gander at an arrangement as the end amusement to the startup, however a way to a particular turning point that is sooner rather than later.
7: Customers Will Frustrate You
Having clients is an extraordinary thing, however, managing help is an entire other ball game. In case you’re in the purchaser world, hope to manage clients that don’t see the undeniable even with your favorite pants UI/UX set up. You will likewise get an inundation of input that is frequently opposing.
8: No shortcuts No Overnight Success
Sometimes you might have the capacity to discover that your thought just won’t work or that you are one of a fortunate couple of that get procured right off the bat. Other than that, be set up to take a shot at your startup for some numerous years.
9: Building A Team Is Hard
Discovering fellow benefactors independent from anyone else is hard just without anyone else. Finding a gathering of people more intelligent than yourself over an expansive scope of expertise takes up far additional time than you could ever think. In the good ‘old days, you might be super amped up for your organization, however, it’s regularly difficult to get an expansive gathering of others similarly energized. They may have their own particular thoughts they need to chip away at, be OK with a cushy compensation, or for the most part just not keen on what you’re doing.
10: You cant control everything
Last, however, not slightest, you need to comprehend that you can’t control everything in the universe. Markets crumple, the administration mediates catastrophe strikes and other unforeseen conditions. You don’t give this make you a chance to stop. It resembles a barricade while in transit to a show, sports diversion, or gathering you need to get to. You may need to sit in movement or take a backup way to go, however as long as you are resolved to arrive, you will wind up at the occasion
What comes in your mind as you think of some one who strives to make this planet sustainable for coming generations. The man who intends to swap everything that hurts planet with the one that enhances planet life anyway. Yes, Elon Reeve Musk is an American business visionary, creator, and speculator. He is best referred to for his part as CEO of electric-auto producer Tesla Motors and as a fellow benefactor of online cash exchange framework PayPal, and of business space program SpaceX. He has dipped himself in various projects whether you name PayPal or Tesla, Hyperloop or Space X.
His one of the project, he is focused on is to build a network of underground transport of dedicated track which is under pilot test in California.
Elon was born in South Africa, where he spent his youth and youthfulness. He was raised fundamentally by his dad, who was an architect. Elon wound up plainly inspired by PCs at a youthful age and started programming in his teenagers. After secondary school, Elon immigrated to Canada, where he went to school, and later exchanged to the University of Pennsylvania in the United States. When he was 24, he got just days into Ph.D. learns at Stanford University when he chose to leave and begin the first of what turned into a progression of multi-million-dollar business wanders with his brother, he began Zip2 with just $2,000, an organization that helped other people post substance, for example, maps and index postings.
Elon Musk is essentially known for the part he played in establishing the broadly known electronic cash exchange site Paypal.com. In spite of the fact that the organization been the subject of a few contentions, it remains the most confined in the medium for Internet business. Nowadays, Musk applies a similar creative energy and capacity to advance that he used to make PayPal a win to his authority of Tesla Motors, of which he is by and by the director. The little car producer seems, by all accounts, to be on the precarious edge of significant leaps forward the business, looking to make usable, pragmatic electric autos that can really rival gas controlled vehicles. Musk, a designer, has had a necessary influence in the improvement of the organization’s leader vehicle, the Tesla Roadster.
Musk posted the photo on his Instagram account and from that point forward it is making a buzz in tech and logical circles. The photo demonstrates a man wearing the suit and is standing appropriate by the crew dragon case — a space vehicle which the organization is making to send space travelers to international space station. A while back, SpaceX and Boeing held hands with NASA in a cost-sparing organization to give a help and more affordable go to the ISS for their Commercial Crew Program.
Spacesuit looks cool and smooth. The primary full-body picture uncovers the gloves, grasp what’s more, boots outline for the first run through. The boot looks lightweight — meaning it will help space explorers amid portability. In addition, at a more intensive look, there are dark cushioned ranges at the back of space suit’s shirt and gasp, which may be intended to give solace to space explorers while they sit in the case.
The suit looks more like a defensive suit of expert bikers rather than a space suit. Be that as it may, it won’t be utilized for spacewalks yet will be worn by space explorers while they are in the case. Moreover, it will secure space explorers in the event of loss of lodge weight in-flight. The space suit is not a mockup rather it has been tried in twofold vacuum weight and is in working condition.
Musk said that he will release more data with respect to the space suit soon