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Huge Vietnam fraud case raises questions over banking system
Huge Vietnam fraud case raises questions over banking system
by  AFP

A multi-billion-dollar fraud scandal involving one of Vietnam's most prominent tycoons exposed systemic weaknesses in the country's banking sector, say analysts who warn other such cases could yet emerge. Even so, he said the revelations from the case meant Vietnam "will have to take exceptional steps to audit the banking system effectively".

Vietnam pushes electric motorbikes as pollution becomes 'unbearable'
Vietnam pushes electric motorbikes as pollution becomes 'unbearable'
by  AFP

In Vietnam's heavily polluted capital Hanoi, teenage taxi driver Phung Khac Trung rides his electric motorbike through streets jammed with two-wheelers belching toxic fumes. Trung has long hated riding in Hanoi, rated among the world's top 10 polluted capital cities in 2023 by air quality technology firm IQAir.

Partner of ex-Abercrombie & Fitch CEO pleads not guilty to sex trafficking
Partner of ex-Abercrombie & Fitch CEO pleads not guilty to sex trafficking
by  AFP

The partner of the ex-CEO of the Abercrombie and Fitch clothing line pleaded not guilty Tuesday in US federal court to charges of sex trafficking and interstate prostitution and was released on $10 million bond. Jacobson also pleaded not guilty to the same charges as the other defendants and was released on half a million dollars bond in October. bur-nr/dw/md

Amazon launches AI models to challenge rivals
Amazon launches AI models to challenge rivals
by  AFP

Amazon on Tuesday unveiled a suite of artificial intelligence models in its boldest move yet to compete with tech giant rivals in the fast-growing generative AI sector. Even if Google, Microsoft and OpenAI have taken the lead on AI, AWS remains the market leader in cloud computing, which is needed to power artificial intelligence tools and products.

Retailers point to solid US sales over holiday weekend
Retailers point to solid US sales over holiday weekend
by  AFP

US consumers turned out in force in stores and online over the Thanksgiving weekend, a key stretch in the holiday shopping season, a leading retailer group said Tuesday. A total of 126 million people shopped in-store in 2024 compared with the 124.3 million who shopped online; the reverse was true in 2023.