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Vietnam property developer faces trial over $12.5 bn bond fraud
Vietnam property developer faces trial over $12.5 bn bond fraud
Economy
by  AFP

The chairwoman of major property developer Van Thinh Phat will go on trial in Vietnam, accused with accomplices of embezzling $12.5 billion from a bank "for personal purposes", the official government website said. Eighty-five others, including a former official at the State Bank of Vietnam who is accused of accepting $5.2 million in bribes, will also face trial at the court in Ho Chi Minh City.

Asian markets mostly down as Fed rate-cut rally fades
Asian markets mostly down as Fed rate-cut rally fades
Economy
by  AFP

Asian markets fell Monday as traders took a step back following last week's rally, with Federal Reserve officials looking to temper expectations the US central bank will cut interest rates several times next year. A number of Fed officials lined up last week to douse expectations they will slash rates next year.