vietnam

Forget Macau’s junket launderers, dirty Chinese cash has a new home: Southeast Asia’s casino scam hubs

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“The former gambling junkets in Macau have been decimated. In their place, illicit gambling syndicates are resorting to using poorly regulated online gambling activities in Vietnam, and clearing systems in Cambodia and other Southeast Asian countries. The Philippines is huge for illicit online gambling.” In recent years, Southeast Asia’s casino industry has experienced exponential growth, … Read more

Opinion | Southeast Asia’s heatwaves threaten food security. How can nations adapt?

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A grim record-breaking milestone was reached in 2023, as it was identified as the hottest year in recorded history. Regrettably, the trend continues into 2024, as evidenced by the alarming data for March: global temperatures have surged to unprecedented levels, surpassing those of previous decades by 0.73 degrees Celsius, and notably exceeding the pre-industrial benchmark … Read more

Vietnam National Assembly head resigns amid graft purge

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The head of Vietnam’s National Assembly has resigned, the ruling Communist Party said Friday, one of the most senior leaders to fall in a sweeping anti-corruption purge.Vuong Dinh Hue asked to step down because of “violations and shortcomings”, the party said in a statement on its website.Thousands of people, including top officials and senior business … Read more

Inflation, high costs had biggest impact on Asian firms in 2023: UOB

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Customers work a cafe and a co-working space in Hanoi, Vietnam, on Thursday, July 20, 2023.  Bloomberg | Bloomberg | Getty Images Higher costs had the biggest impact on Asian businesses in 2023, even as they continued to grapple with a global economic slowdown and rising borrowing costs, according to a survey by UOB.  More … Read more

Vietnam jails soft drinks tycoon for eight years in $40m fraud case | Corruption

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Tran Qui Thanh was found guilty of scamming investors over loans issued in 2019 and 2020. Vietnam’s top soft drinks tycoon was jailed for eight years on Thursday in a $40m fraud case – the latest high-profile business figure snared in the country’s sweeping crackdown on corruption. The communist nation’s wide-ranging campaign to wipe out endemic … Read more

Russia says deeper U.S. hybrid war using Ukraine will end in Vietnam-style humiliation

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In this pool photograph distributed by Russia’s state agency Sputnik, Russian President Vladimir Putin meets with the country’s Labour and Social Protection Minister in Moscow on April 10, 2024.  Gavriil Grigorov | AFP | Getty Images Russia said on Sunday that U.S. lawmakers’ approval of $60.84 billion more in support for Ukraine showed that Washington … Read more

China steels itself for new front in trade war after US proposes tariffs on metals

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The US Trade Representative’s (USTR) office also initiated a probe into China’s maritime, logistics and shipbuilding industries, alleging that Beijing used “unfair, non-market policies and practices” to dominate these sectors. Henry Gao, a law professor at Singapore Management University, said he would not be surprised if China imposes countermeasures against the proposed tariffs through countervailing … Read more

Apple CEO Tim Cook visits Vietnam

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Apple CEO Tim Cook arrived in Hanoi, Vietnam, on Monday as the U.S. tech giant looks to boost sales in new markets. Cook will meet with Apple users, developers and content creators during the two-day visit, local media reported. The CEO posted pictures on X on Monday in Hanoi with musicians. He drank an egg … Read more

Vietnamese property tycoon sentenced to death in financial fraud case

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Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh city on April 11, 2024. A top Vietnamese property tycoon could face the death penalty when she and dozens of other co-accused face verdicts on April 11 in one of the country’s biggest fraud cases over the embezzlement of … Read more

Vietnamese property tycoon Truong My Lan sentenced to death in US$12.5 billion fraud case

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Lan’s husband Eric Chu was on Thursday sentenced to nine years’ imprisonment for violating banking regulations, according to state media, with scores more defendants still awaiting their sentences. Communist-run Vietnam is one of the last Asian countries to carry out death penalties. But Lan has the right to appeal against the sentence. It comes as … Read more