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The multi-year prison sentences were justified, the court said in a statement released later, given “the very high amounts involved, the intensity of the criminal activity,” and the defendants’ “selfish motive”. The court also ordered the men to compensate 1MDB for the funds that were diverted, return part of the assets under seizure, and to have some of their assets confiscated.
Ukrainian President Volodymyr Zelensky has proposed holding a summit in India aimed at ending the war with Russia, according to people familiar with the matter.
Indonesia and Australia will hold their largest defence exercises in November after signing a new security pact seen to usher closer ties for the two nations with a strained history.
Tencent Holdings and NetEase are reconsidering or scaling back many of their investments in Japanese studios, after years of spending yielded few hit games and the Chinese market staged a comeback.
Billionaire Mukesh Ambani unveiled ambitious plans for Reliance Industries to develop cutting-edge artificial intelligence tools, but gave no details on the much-awaited listings of its telecoms and retail units in his annual shareholders’ address.
Transport regulators around the world are pressuring carriers to improve standards after a series of flight schedule meltdowns and questionable business practices sparked calls for reform. In Australia, Qantas Airways Ltd. was sued for allegedly selling seats on thousands of cancelled flights.
Berjaya Food Bhd., which operates the Starbucks coffee chain in Malaysia, posted a loss in the fourth quarter as consumer sentiment on the Middle East conflict hurt sales.
The National Assembly separately accepted the resignation of Deputy Prime Minister Le Minh Khai for violating anti-corruption rules. Parliament also appointed three deputy prime ministers, with newly appointed Communist Party chief To Lam to step away from the presidency later this year.