Court issues warrants over $2.6b bank fraud
NEW DELHI • A special court of India's Central Bureau of Investigation (CBI) has issued non-bailable warrants against two Indian jewellers, Mr Nirav Modi and Mr Mehul Choksi, who are central figures in an alleged US$2 billion (S$2.6 billion) scam at state-run Punjab National Bank, a source at the CBI said.
The case, dubbed India's largest ever bank fraud, has led to a huge probe.
22 train carriages detach from engine
NEW DELHI • India's railway ministry said yesterday that a "ghastly" accident was narrowly avoided after 22 train coaches carrying some 1,000 passengers became detached from the engine and sped backwards before being stopped.
The carriages in the eastern state of Odisha rolled for 12km before being brought to a shuddering halt by rocks placed on the tracks by railway staff on Saturday. None the passengers were injured.
Japan agrees to $118m in loans to Cambodia
PHNOM PENH • Japan signed a grant and loan agreement with Cambodia yesterday totalling more than US$90 million (S$118 million), despite concerns from the international community over Prime Minister Hun Sen's crackdown on government critics ahead of a July election. The deal was for economic and electricity transmission projects in capital Phnom Penh.
Unis cut ties with don over alleged assault
BEIJING • Two universities in China have cut ties with a professor following outrage on social media over an alleged sexual assault linked to a student's suicide 20 years ago, according to state media.
Last week, a person claiming to be the student's classmate accused Mr Shen Yang, a language professor, of the assault. The alleged victim died in 1998.
The School of Liberal Arts at Nanjing University and Shanghai Normal University, where Mr Shen holds current roles, have cut ties with the professor, Xinhua said.