ASIA

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In a significant development within Vietnam’s anti-corruption campaign, Trinh Van Quyet, the former chairman of the FLC Group, has been sentenced to 21 years in prison. The Hanoi People’s Court found him guilty of defrauding stockholders out of nearly $150 million through fraudulent stock manipulation and inflating his company’s value. 

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In a significant move to strengthen its military alliance with Japan, the United States announced plans to upgrade its forces in the country on July 28, 2024. This decision comes as both nations identify China as the "greatest strategic challenge" in the Indo-Pacific region.

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Philippine authorities are racing to stop the oil spill from the 65-meter-long (213 feet) MT Terra Nova, which capsized on Thursday as monsoon rains battered large swathes of the country. The Philippine Coast Guard has deployed floating barriers and started to clean up an oil spill to prevent it from reaching the capital, Manila.

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Bangladesh erupted in violence on Sunday as student-led protests escalated into deadly clashes, leaving dozens dead and hundreds injured across the country. The unrest, which began in June over a controversial quota system for public sector jobs, has morphed into a wider anti-government movement demanding Prime Minister Sheikh Hasina's resignation.

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In a bid to stimulate economic growth and accelerate the transition to electric vehicles (EVs), China has doubled its cash subsidies for consumers trading in conventional cars for EVs. The National Development and Reform Commission and the Ministry of Finance announced on July 25, 2024, that buyers will now receive 20,000 yuan ($2,770) per vehicle, up from the 10,000 yuan subsidy introduced just three months earlier.

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Indian authorities have launched a rescue operation in the southern Indian state of Kerala after major landslides in the northeastern district of Wayanad killed at least 93 people and injured 128 others.