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BENGALURU: Indian fashion e-commerce giant Myntra is taking its first steps into international retail with the launch of Myntra Global in Singapore. The platform will offer curated selections of trendy, made-in-India fashion and lifestyle products, primarily targeting the city-state’s sizeable Indian diaspora of approximately 650,000. This strategic move marks a significant milestone for Myntra, which has built an 18-year legacy as a leading player in India’s fashion and lifestyle e-commerce space. The new venture also aligns with the Indian government’s broader vision of promoting Indian-made products on a global scale. “Myntra Global is a milestone moment,” said Nandita Sinha, CEO of Myntra. “With our experience in serving millions of fashion-conscious customers and our strong brand partnerships, we aim to bring the vibrancy of Indian fashion to Indians abroad, beginning with Singapore.” The new platform launches with around 35,000 styles from 100 popular Indian brands across apparel, footwear, home décor, and accessories. Shoppers in Singapore will have access to labels such as Aurelia, Global Desi, Libas, Rustorange, House of Pataudi, Chumbak, The Label Life, and many more. Myntra had already observed organic traction from Singapore, with about 30,000 users accessing its Indian platform prior to the official launch. The company is now aiming to formalise that interest with a seamless digital shopping experience through Myntra Global, accessible via mobile web and desktop. Orders will be fulfilled in an estimated 4–7 days using third-party cross-border logistics providers. The move not only reinforces Myntra’s intent to serve global consumers, but also promises a growth runway for Indian fashion brands aspiring to expand beyond the domestic market.

BANGKOK: Thailand’s Supreme Administrative Court has ordered former prime minister Yingluck Shinawatra to pay 10 billion baht (approximately US$305 million) in damages over losses incurred by a controversial rice subsidy programme implemented during her tenure. The ruling follows Yingluck’s appeal against a prior order requiring her to pay 35 billion baht. The court determined that while the previous figure exceeded her legal liability, she was still responsible for significant losses caused by gross negligence in overseeing the scheme. Launched under her Pheu Thai-led administration, the rice pledging programme paid farmers up to 50% above market prices. The populist initiative was politically popular but financially unsustainable, resulting in billions of dollars in losses and surplus rice stockpiles. Yingluck, who fled the country in 2017 to avoid a five-year prison sentence for negligence, called the latest order “excessive” and vowed to continue fighting for justice. “Even if I repaid it my entire life, it would never be enough,” she said via social media. The verdict comes as the Shinawatra family regains political influence, with the Pheu Thai party returning to power and Yingluck’s brother, Thaksin Shinawatra, having recently returned from self-imposed exile. The Shinawatras maintain the charges against them are politically motivated, rooted in longstanding tensions with Thailand’s conservative establishment.–REUTERS

MANILA: The Asian Development Bank (ADB) has appointed Seong-Wook Kim as its new Chief Partnership Officer, tasked with leading resource mobilisation and strategic engagement through the Office of the President. In this role, Kim will spearhead ADB’s partnerships with the global development community, including engagement at key international forums and outreach to potential new member countries. His leadership will be central to deepening collaboration with development partners and enhancing the bank’s development impact across Asia and the Pacific. “As ADB expands its role in an evolving development landscape, effective partnerships are more critical than ever,” said ADB President Masato Kanda. “Mr. Kim’s extensive diplomatic and multilateral experience positions him well to drive our strategic collaborations.” Commenting on his appointment, Kim said, “I am honoured to join ADB and contribute to its mission by strengthening partnerships that accelerate sustainable development across the region.” A national of the Republic of Korea, Kim brings over three decades of experience at the Ministry of Economy and Finance, having served as Deputy Minister for International Affairs and in various key roles involving the G20 and ASEAN+3 Finance processes. He has also represented the region as Executive Director at both the World Bank and International Monetary Fund. Kim holds a Master’s in Public Administration from Harvard Kennedy School and a Bachelor’s in Economics from Seoul National University. Founded in 1966, ADB is a multilateral development bank owned by 69 members, including 50 from the Asia-Pacific region. It supports inclusive and sustainable development through financing, knowledge-sharing, and strategic partnerships.

HANOI: The United States and Vietnam have concluded a second round of trade negotiations on tariffs and agreed to continue the talks to address unresolved issues, Vietnam’s trade ministry said in a statement on Thursday (May 22). The second round of talks took place in Washington on May 19-22 involving Vietnam’s Trade Minister Nguyen Hong Dien and the US Trade Representative Jamieson Greer, the Vietnamese ministry said on its website showing pictures of meetings. “At the end of the negotiation round, Vietnam and the United States made positive progress, identifying groups of issues on which consensus was close, and groups of issues that needed further discussion to reach consensus in the coming time,” the statement said, without elaborating. It noted that talks will need to continue in early June. The US Trade Representative did not immediately reply to a request for comment outside of US business hours. Vietnam heavily relies on exports to the US and faces one of the highest “reciprocal” tariff rates set by the White House at 46 per cent. Those duties have been paused globally by Washington until July.–REUTERS

HONG KONG :Goldman Sachs is merging three Asian investment banking businesses it previously managed separately into a single unit to integrate its regional deals advisory and capital market capabilities, according to a memo reviewed by Reuters. Iain Drayton, head of the Wall Street bank’s investment banking business in Asia excluding Japan, will lead the integrated Asia Pacific investment banking unit, said the internal memo issued on Thursday. A bank spokesperson confirmed the memo’s content. “This structure will enable more holistic client engagement, more effective deployment of global and regional expertise, and increased career opportunities for our people,” Goldman Sachs said in the memo. In the new role, Drayton will work closely with Yoshihiko Yano and Shogo Matsuzawa, co-heads of investment banking in Japan, and Nick Sims and Zac Fletcher, co-heads of corporate advisory in Australia and New Zealand, the memo said. A Goldman Sachs veteran, Drayton joined the firm in Tokyo as a managing director in 2006, relocated to Hong Kong in 2010, and was named a partner in 2014. Goldman Sachs ranks at the top of the Asia Pacific equity capital market league table this year, according to Dealogic data.–REUTERS

SINGAPORE: The Global Asia Insurance Partnership (GAIP) has announced the appointment of Min Hung Cheng as its new Chief Executive Officer, effective 6 May 2025. This internal promotion marks a significant step forward for the organisation, as Min Cheng transitions from her role as Deputy CEO and Senior Director to lead the next phase of GAIP’s development. Cheng brings with her a wealth of industry expertise, strategic insight, and a strong familiarity with GAIP’s mission and operations. Her appointment reflects both her leadership within the organisation and her ability to guide GAIP as it shifts its focus from strategic planning to execution. Over the past four years, GAIP has embarked on a journey to address critical protection gaps across Asia. The organisation was first established under the founding CEO’s leadership, which laid its essential foundations. A second phase followed, led by CEO John Maroney, focusing on consolidation and strategic development. With Cheng at the helm, GAIP is now entering its third phase—focused on accelerating programmes, strengthening multi-sector collaboration, and driving impact. Yoshi Kawai, Chairman of GAIP, expressed strong confidence in the appointment. “We are delighted to appoint Min Cheng as GAIP’s new CEO. Her understanding of GAIP’s mission and her proven capability to execute strategies effectively will be invaluable as we continue our journey. We also extend our appreciation to the previous CEO, John Maroney, for his leadership, positioning us for Min to lead the execution. As we enter this next phase of growth, I am confident that Min will accelerate our key initiatives and strengthen GAIP’s impact across the insurance industry.” In her statement, Cheng said, “I am honoured to step into the role of CEO at GAIP. While much work remains ahead, I am committed to building upon the important groundwork laid. I look forward to working with our partners and stakeholders to translate our vision into action, fostering multi-sector collaboration and sustainable solutions that build risk resilience in Asia and beyond. The support from our partners has been crucial to our progress, and I am dedicated to maintaining and building on these collaborative efforts.” GAIP was established as a platform for collaboration between the public and private sectors, academia, and the insurance industry. Under Cheng’s leadership, the organisation is poised to deepen its impact, turning strategy into tangible outcomes that address Asia’s evolving risk landscape. The GAIP community extends its warmest congratulations to Min Hung Cheng and looks forward to this new chapter under her leadership.