The founder of a failed Singapore oil trading company was sentenced Monday to nearly 18 years in jail for cheating banking giant HSBC out of millions of dollars in one of the country’s most serious cases of fraud.Lim Oon Kuin, 82, better known as O.K. Lim, was convicted in May in a case that dented …
Disgraced Singapore oil tycoon sentenced to nearly 18 years for fraud Read More »
Asian markets were mixed Monday following a sell-off on Wall Street as investors scale back their bets on Federal Reserve interest rate cuts owing to worries Donald Trump could reignite inflation.A warning from US central bank boss Jerome Powell that reductions in borrowing costs were not preset dented optimism last week, while traders were also …
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The founder of a failed Singapore oil trading company will be sentenced Monday for cheating banking giant HSBC out of millions of dollars in one of the country’s most serious cases of fraud.Lim Oon Kuin, better known as O.K. Lim, was convicted in May in the case that dented the city-state’s reputation as a top …
Disgraced Singapore oil tycoon to be sentenced for fraud Read More »
Chinese leader Xi Jinping said he was seeking to “further enhance” ties with Brazil as he arrived Sunday for a state visit and a G20 summit, state media said.Xi is due to meet Brazilian President Luiz Inacio Lula da Silva on the visit, which will last until Thursday.State news agency Xinhua said he looked forward …
China’s Xi says to ‘enhance’ ties with Brazil as arrives for G20: state media Read More »
Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging.At a market in Vientiane, traders told AFP they have never known business to be so slow, as families have seen the value of …
Debt-saddled Laos struggles to tame rampant inflation Read More »
Chinese President Xi Jinping on Saturday called for Asia-Pacific economies to “unite and cooperate” in the face of mounting “protectionism,” at a summit in Peru.Speaking to Asia-Pacific Economic Cooperation (APEC) leaders hours before he is due to hold talks with US counterpart Joe Biden, Xi pointed to “challenges such as geopolitics, unilateralism and rising protectionism.””We …
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Global stock markets ended the week on a sour note Friday as traders mulled Federal Reserve Chair Jerome Powell’s comments that the US central bank was not on a preset path to cut interest rates. After Powell indicated the Fed was in no hurry to cut rates as it monitors inflation’s downward trajectory, Wall Street turned …
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Japan’s growth slowed in the third quarter after warnings of a major earthquake hit activity, official data showed Friday, as Prime Minister Shigeru Ishiba seeks to jumpstart the world’s fourth-largest economy.A “megaquake” alert in August and one of the fiercest typhoons in decades resulted in gross domestic product (GDP) expanding just 0.2 percent between July …
China’s retail sales last month grew at their fastest clip since the start of the year, official figures showed Friday, an encouraging sign for Beijing as it looks to boost sluggish consumption.Officials have since late September unveiled a slew of measures including interest rate cuts and debt swaps intended to boost activity in the world’s …
China retail sales pick up speed, beat forecasts in October Read More »
Japan’s growth slowed in the third quarter, official data showed Friday, as Prime Minister Shigeru Ishiba seeks to jumpstart the world’s fourth-largest economy.One of the fiercest typhoons to hit Japan in decades and a government “megaquake” warning weighed on factory production and other economic activity this summer.That dragged on gross domestic product (GDP) and the …
