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Disgraced Singapore oil tycoon to be sentenced for fraud
Disgraced Singapore oil tycoon to be sentenced for fraud

The founder of a failed Singapore oil trading company will be sentenced Monday for cheating banking giant HSBC out of millions of dollars in one of the country's most serious cases of fraud. Prosecutors said he tricked HSBC into disbursing nearly $112 million by telling the bank that his firm had entered into oil sales contracts with two companies.

'Devil is in the details,' EU chief says of S.America trade deal
'Devil is in the details,' EU chief says of S.America trade deal

EU chief Ursula von der Leyen said Sunday "the devil is always in the details" as she spoke of a budding South America trade deal that France has vowed to block at all costs. But it "won't proceed without political agreement" among the bloc's member states, one official in von der Leyen's entourage told AFP. Von der Leyen was to meet Sunday with Brazilian President Luiz Inacio Lula da Silva.

Debt-saddled Laos struggles to tame rampant inflation
Debt-saddled Laos struggles to tame rampant inflation

Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging. A growing number of households are so desperate for food that they are now having to forage to supplement their diets, according to a World Bank household survey earlier this year.

Climate finance can be hard sell, says aide to banks and PMs
Climate finance can be hard sell, says aide to banks and PMs

Trillions of dollars are needed to make poorer nations more resilient to climate change, and studies have estimated that every $1 invested today will save at least $4 in future. - Political jitters - But governments are limited in the amount they can borrow, he said, and reluctant to dip into their budgets for climate adaptation in poorer nations.

Egypt's middle class cuts costs as IMF-backed reforms take hold
Egypt's middle class cuts costs as IMF-backed reforms take hold

Egypt's economy has been in crisis for years, but as the latest round of International Monetary Fund-backed reforms bites, much of the country's middle class has found itself struggling to afford goods once considered basics. For some, this has extended to cutting back on even the most basic goods -- such as milk.

Beirut businesses struggle to stay afloat under Israeli raids
Beirut businesses struggle to stay afloat under Israeli raids

Lina al-Khalil has fled her south Beirut home to escape escalating Israeli attacks on Hezbollah, but she still returns daily to the bombarded area to keep the family business running. - 'Hide-and-seek' - South Beirut grocer Mehdi Zeitar, in his 50s, has had to find a place to live after an Israeli strike destroyed his home.

Economy

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