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Deutsche Bank ordered to take action to prevent money laundering

FRANKFURT: Three years ago, Deutsche Bank AG pledged to improve internal controls to avoid a repeat of fines that had eroded earnings and damaged trust. Yet from the U.S. to Germany, regulators keep spotlighting the lender’s failures.

Drivers for Uber, Lyft see incomes fall as participation jumps

Drivers for Uber, Lyft and other US ridesharing services have seen their incomes fall by half in recent years as more people get behind the wheel, according to a study released Sept 24.

The analysis showed that “transport workers” saw average monthly revenues drop by 53% between 2013 and 2017 from more than US$1,500 (RM6,201) to less than US$800 (RM3,307). — Sipa USA/TNS

CIMB shares fall as chairman Nazir steps down

KUALA LUMPUR: Shares of CIMB Group Holdings Bhd fell marginally in early trade Tuesday after the company announced chairman Datuk Seri Nazir Tun Razak is leaving his post.

Indonesia eyes foreign firms for more mergers

JAKARTA: Indonesia has almost 2,000 banks and a currency that has plunged 11% since January, a combination overburdened regulators hope will prove irresistible to foreign acquirers.

Indonesian regulations make it difficult – though not impossible – for foreign banks to invest more than 40% in local lenders. Singapore’s DBS Group Holdings Ltd scrapped a bid to buy PT Bank Danamon Indonesia in 2013 after the ownership rule was introduced.

Jho Low planning to negotiate deal with DOJ

PETALING JAYA: Fugitive businessman Low Taek Jho, better known as Jho Low, is planning to negotiate a deal with the US Department of Justice (DOJ) over its investigation into the 1Malaysia Development Berhad (1MDB) scandal.

India pledges to support financial markets

This comes as shadow banks are rocked by default worries

Some analysts expect the RBI to conduct more open market bond purchases to add liquidity to the market and calm investors, while others see a special refinance window for non-banking finance companies and mutual funds.

Nazir leaves CIMB after 29 years at Malaysia's 2nd largest bank

PETALING JAYA: It’s the end of an era for the country’s second-largest lender, CIMB Group, as its chairman Datuk Seri Nazir Razak, the face behind the group, will leave, effective Dec 31 this year.

Nazir’s announcement confirms a June 30 StarBizWeek article which stated that he was on his way out and the search for his successor had begun.  Nazir is the youngest brother of ex-prime minister Datuk Seri Najib Tun Razak, who was ousted in the recent general election and is now facing a string of corruption charges.

Equestrian - World Games over but Bellissimo back in saddle

TRYON, North Carolina (Reuters) - Mark Bellissimo, the man who brought the FEI World Equestrian Games (WEG) to this bucolic corner of recession ravaged North Carolina is widely viewed as a saviour for bringing jobs and hope to the depressed region.

Nazir Razak to leave CIMB

KUALA LUMPUR: CIMB Group Holdings Bhd announced on Monday that its chairman, Datuk Seri Nazir Tun Razak, will be leaving the group by Dec 31, 2018.

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Jho Low trying to cut a deal with DOJ, says Sarawak Report

PETALING JAYA: Fugitive businessman Low Taek Jho, better known as Jho Low, is planning to negotiate a deal with the US Department of Justice (DOJ) over its investigation into the 1Malaysia Development Berhad scandal, says the Sarawak Report.

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