O.K. Lim, the founder of Hin Leong Trading, was sentenced to 17.5 years for defrauding HSBC of $112 million in a major scandal that shook Singapore's oil trading industry. While Lim plans to appeal the sentence, this case has heightened scrutiny on trade financing practices across the city-state.

As the climate crisis continues to demand urgent attention, COP29 in Baku is focusing on securing $1 trillion to help developing countries move away from fossil fuels and address climate change. In parallel, the G20 summit in Rio calls for acknowledgment of historical emissions by these major economies, urging substantial financial commitments.

Meanwhile, tension escalates in the Middle East with Israeli strikes in Gaza killing 14 Palestinians, deepening the humanitarian crisis that has claimed over 43,800 lives since October 2023. These strikes are part of ongoing military operations targeting Hamas, as hospitals in the region struggle under siege conditions.

In response to regional tensions, Turkiye has denied claims of hosting a Hamas political office, while Qatar distances itself from recent reports and halts mediation between Hamas and Israel. As diplomatic efforts waver, Turkiye maintains its critical stance against Israel’s military actions.

The conflict also spills into Lebanon, where Israeli airstrikes in Beirut have closed schools and taken lives, including that of Hezbollah's spokesman. This intensified conflict prompts Lebanese authorities to seek a truce, as Israel continues operations against Hamas, mirroring the persistent violence in Gaza.

In a push for peace, U.S. envoy Amos Hochstein is arriving in Beirut for talks aimed at establishing a ceasefire between Israel and Hezbollah. This diplomatic move coincides with Lebanon's response to a U.S. truce proposal, as negotiations continue under the framework of UN Security Council Resolution 1701.