Former South Korean President Lee Myung-bak will appeal a court verdict that last week sentenced him to 15 years in prison for corruption, his lawyer said Friday (Oct 12). Lee is the latest of South Korea's former leaders to be jailed after leaving office. (Photo: AFP/Jung Yeon-je) Lee was found guilty of bribery and embezzlement charges - becoming the latest of the country's former leaders to be jailed after leaving office. The conservative politician, who helmed Hyundai Construction before his election to the presidency, was separately ordered to pay a fine of 13 billion won (US$11.5 million) by the Seoul Central District Court. The court found that Lee, 76, was the de-facto owner of DAS - a controversial auto parts company which he claimed belonged to his brother - which he used to create a slush fund worth around 24 billion won. He was also found guilty of accepting nearly six billion won from Samsung Electronics in return for a presidential pardon for its chairman, who … [Read more...] about South Korea ex president Lee appeals 15 year jail term
15 million dollar house
More than one million people have swarmed relief camps in India's Kerala state to escape devastating monsoon floods that have killed about 420 people, officials said Tuesday as a huge international aid offers poured in. Marooned buildings on the banks of overflowing Pampa river are pictured in the flood waters in Alappuzha District in the south Indian state of Kerala. People are flocking to camps as the scale of the desolation is revealed by receding waters and the military rescues more people each day. The state government said 1,028,000 people are now in about 3,200 relief camps across the southern state. Officials said at least eight more bodies were recovered Tuesday taking the death toll to some 420 since the monsoon started in June. Keralan authorities say they are desperate for funds and the United Arab Emirates on Tuesday promised $100 million in aid, chief minister Pinarayi Vijayan announced after telephone talks with UAE leaders. The amount is more than the … [Read more...] about One million pack India flood relief camps
The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. — Photo thoibaonganhang.vn The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year. The problems include a weakening of the dong against the dollar and rising inflation, interest rates and public debt, and the Government will be walking a tightrope in terms of monetary policy. The consumer price index jumped by 2.22 per cent in June and 4.6 per cent from a year earlier, a seven-year high, the General Statistics Office (GSO) reported. Inflation in the first six months of the year was up to 3.29 per cent. GSO experts attributed the sharp increase in inflation in recent months to the rise in prices of several major products and services. Of 11 major categories of goods and services, nine saw prices increasing. Transportation … [Read more...] about Trillion đồng question: to tighten monetary policy or not?
In a stunning political upset that took pundits by surprise, Mahathir’s opposition alliance ended the long hold on power of the Barisan Nasional coalition, which has been in power in Malaysia since its birth as an independent country in 1957. The thumping victory capped a dramatic political comeback for Mahathir, who previously ruled the country with an iron fist for 22 years and came out of retirement to take on Prime Minister Najib Razak after the leader became embroiled in a massive corruption scandal. When he takes power, Mahathir will be the oldest prime minister in the world. Despite the shock result there were no reports of trouble on the streets, where pockets of celebration erupted overnight. A flag-waving crowd of supporters gathered on a field outside the headquarters of Mahathir’s party near Kuala Lumpur. Suva Selvan, a 48-year-old doctor, said he felt the country had just won its independence. "I feel that with this change we probably can see something better … [Read more...] about Malaysia’s Mahathir wins shock election victory, toppling long-ruling regime
Federal agents seized more than 100 homes in one of the largest residential drug busts in U.S. history in a bid to combat Chinese-run marijuana operations, the government said on Wednesday. Hundreds of federal agents flooded California state capital Sacramento on Tuesday and Wednesday with local police, filing forfeiture actions against properties being used by Chinese drug traffickers. "This was a large-scale operation, with millions of dollars coming into the U.S. from China," Cindy Chen of the Internal Revenue Service, which was part of the raids, said in a statement from the Department of Justice. "This criminal organization used foreign money to purchase homes and turned them into marijuana grow houses; all at the cost of innocent neighborhoods." The IRS was joined by the FBI and Drug Enforcement Administration, as well as immigration officers and police, in executing search warrants at more than 70 houses suspected of being used for marijuana cultivation, the Department of … [Read more...] about US seizes 100 ‘pot-growing’ houses linked to China