Reuters Asia - Squid Business

China Development Bank former VP given 12 years in jail, fine for bribery

BEIJING (Reuters) – The former vice president of China Development Bank (CDB) Wang Yongsheng has been sentenced to 12 years imprisonment and fined two million yuan ($280,000) for accepting bribes, state broadcaster CCTV said on Monday. Wang was found to have abused his position at CDB, China’s largest policy bank, to provide assistance to entities …

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Trudeau has wrecked Canada-India political relations, says expelled envoy

OTTAWA (Reuters) -India’s envoy to Canada, who is being expelled over what Ottawa says are links to the murder of a Sikh leader, insisted in an interview he was innocent and said Prime Minister Justin Trudeau had wrecked bilateral political ties, but trade may remain unscathed. Both countries on Monday ordered out six diplomats in …

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China condemns attack on Myanmar consulate

BEIJING (Reuters) – China condemned on Monday an attack on its consulate in Mandalay and urged Myanmar authorities to make every effort to arrest the perpetrators, a spokesperson of its foreign ministry said. Myanmar has been in turmoil since February 2021 when the military ousted an elected civilian government in a coup, abruptly ending the …

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Thai police say 18 arrested as alleged pyramid scheme losses near $50 million

By Panarat Thepgumpanat and Chayut Setboonsarng BANGKOK (Reuters) – Thai police have arrested 18 people and seized luxury goods after receiving nearly 5,600 complaints about an alleged pyramid scheme, saying on Monday they estimate investors have lost at least 1.61 billion baht ($48 million). The Central Investigation Bureau (CIB) said it had seized assets worth …

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Taiwan’s September export orders miss expectations, China drags

By Faith Hung and Emily Chan TAIPEI (Reuters) – Taiwan export orders fell short of expectations for September, losing some steam ahead of the year’s end as it remained buoyed by the artificial intelligence wave but ran into faltering demand from top trading partner China. Export orders last month rose 4.6% to $53.79 billion from …

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Vietnam to amend national power plan to include nuclear energy

By Khanh Vu HANOI (Reuters) -Vietnam will amend its national power development plan, known as PDP8, to include options for nuclear energy and hydrogen, the Minister of Industry and Trade said on Monday. The PDP8 will be amended in a way to also add more renewables to the mix, including solar and wind, Nguyen Hong …

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Taiwan appoints presidential advisor as APEC summit representative

TAIPEI (Reuters) -Taiwan’s presidential office said on Monday it had appointed a senior advisor to President Lai Ching-te as its envoy to this year’s APEC summit in Peru, one of the few international forums both Taiwan and China take part it. Lin Hsin-i, chairman of government-backed investment fund Taiwania Capital and also a former economy …

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NATO’s Rutte: North Korea sending troops to Ukraine would escalate conflict

BRUSSELS (Reuters) – If North Korea were to send troops to Ukraine to fight on Russia’s behalf it would significantly escalate the conflict, NATO Chief Mark Rutte said on social media platform X on Monday. Rutte, who took office at NATO at the start of the month, said he had a discussion with South Korean …

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Bollywood filmmaker Karan Johar’s studio sells 50% stake worth 10 billion rupees to vaccine maker’s CEO

By Rishika Sadam and Hritam Mukherjee (Reuters) -Adar Poonawalla, CEO of vaccine maker Serum Institute of India, will buy a 50% stake in filmmaker Karan Johar’s Dharma Productions for 10 billion rupees ($119 million), the Bollywood studio said on Monday. Poonawalla will buy the stake through his production company, Serene Productions. This is his first …

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Explainer-What we know about North Korean troops joining Russia’s war in Ukraine

By Josh Smith SEOUL (Reuters) – Officials in Ukraine and South Korea have accused North Korea of dispatching troops, estimated to number in the thousands perhaps, to aid Russia in the war in Ukraine. Both Moscow and Pyongyang have denied the claims and U.S. officials have said they are still investigating the reports. Here is …

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