Business

19 Sep

Vietnamese real estate tycoon, already sentenced to death for fraud, faces trial on new charges

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HANOI, Vietnam -- The second trial for Vietnamese real estate typcoon Truong My Lan — who was sentenced to death for financial fraud in April — started on Thursday, state media reported.The 67-year-old chair of the real estate company Van Thinh Phat was convicted for orchestrating Vietnam's biggest ever financial fraud case, amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP and for illegally controlling a major bank allowing loans that resulted in losses of $27 billion, state media said.Her arrest and conviction was one of the highest profile cases in an anti-corruption drive that has intensified…
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18 Sep

Japan’s trade deficit grows while both imports, exports fall short of forecasts

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TOKYO -- Japan posted a trade deficit for a second straight month in August, the Finance Ministry said Wednesday, despite signs of sluggish consumer spending that weighed on imports.Japan’s trade deficit totaled 695 billion yen, or $4.9 billion, down 26% from a year earlier, the ministry said. Exports totaled 8.4 trillion yen ($59 billion), up 5.6% from the same month the previous year. Shipments to Asia rose while exports to the U.S. fell.Imports totaled 9.1 trillion yen ($64 billion), up 2.3% from a year earlier. By region, imports from European nations, in categories such as pharmaceuticals, showed the strongest growth.Both…
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18 Sep

US military acknowledges Yemen’s Houthi rebels shot down 2 MQ-9 Reaper drones

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DUBAI, United Arab Emirates -- DUBAI, United Arab Emirates (AP) — Yemen's Houthi rebels shot down two American MQ-9 Reaper drones in under a week, the United States military acknowledged Wednesday, further highlighting the regional spread of the Israel-Hamas war. As the one-year anniversary of the war approaches, Houthis continue a campaign to target ships traveling through the Red Sea as U.S.-led airstrikes pound their positions in Yemen. That's imperiled a waterway that typically sees $1 trillion of trade pass through it, as well as crucial shipments of aid to war-torn Sudan and Yemen. The U.S. military said Houthis shot…
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16 Sep

US-China military leaders hold routine talks to discuss South China Sea tensions and other issues

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BANGKOK -- Military leaders from the U.S. and China met in Beijing for routine talks that only resumed in January after being suspended for two years as ties between the two countries soured. The meetings ended on Sunday and officials discussed ongoing issues such as Taiwan, the Russia-Ukraine war and clashes in the South China Sea. Michael Chase, deputy assistant secretary of defense for China, Taiwan and Mongolia led a delegation to engage in the bilateral Defense Policy Coordination Talks, which were last held in January.. While the talks weren't expected to resolve long-standing differences in stances over issues ranging…
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16 Sep

Air Canada and pilots union reach a tentative agreement to avoid a shutdown

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OTTAWA, Ontario -- Air Canada and the union representing its pilots have come to terms on a labor agreement that is likely to prevent a shutdown of Canada’s largest airline.Talks betwen the company and the Air Line Pilots Association produced a tentative, four-year collective agreement, the airline announced in a statement early Sunday.The prospective deal recognizes the contributions of the pilots flying for Air Canada and Air Canada Rouge while setting a new framework for company growth. The terms will remain confidential until ratification by union members and approval by the airline’s board of directors over the next month, the…
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15 Sep

Algerian court certifies Tebboune’s landslide reelection win

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ALGIERS, Algeria -- Algeria's constitutional court on Saturday certified the landslide victory of President Abdelmadjid Tebboune in last weekend's election after retabulating vote counts that he and his two opponents had called into question.The court said that it had reviewed local voting data to settle questions about irregularities that Tebboune’s opponents had alleged in two appeals on Monday.“After verification of the minutes of the regions and correction of the errors noted in the counting of the votes," it had lowered Tebboune's vote share and determined that his two opponents had won hundreds of thousands more votes than previously reported, said…
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13 Sep

Russian central bank hikes interest rates by 1 percentage point to 19% to fight inflation fueled by military spending

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Russian central bank hikes interest rates by 1 percentage point to 19% to fight inflation fueled by military spending https://s.abcnews.com/images/US/abc_news_default_2000x2000_update_16x9_992.jpg #Russian #central #bank #hikes #interest #rates #percentage #point #fight #inflation #fueled #military #spending
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13 Sep

China's legislature passes a law raising the retirement age, which is now among the lowest for major economies

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China's legislature passes a law raising the retirement age, which is now among the lowest for major economies https://s.abcnews.com/images/US/abc_news_default_2000x2000_update_16x9_992.jpg #China039s #legislature #passes #law #raising #retirement #age #among #lowest #major #economies
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