The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.
KUALA LUMPUR: The Asia-Pacific Economic Cooperation (Apec) Business Advisory Council (Abac) expects this year’s global economic growth to fall below the target of the International Monetary Fund, derailed by the trade friction between the United States and China.
Abac Australia chair and JP Morgan Asia-Pacific Advisory Council chairman Sir Rod Eddington said the pace of decline has yet to be determined as the trade friction is still in its infancy. “Protectionism against trade can have bad implications on jobs and people,” he told reporters here after Abac’s third meeting this year. IMF has forecast the global economy to grow 3.9% this year.
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