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Bankers are sick of choosing sides between Qatar and Saudi Arabia

DUBAI: When Saudi Arabia cut ties with Qatar in mid-2017, many international bankers chose to chase a potential fee windfall in Riyadh over doing deals with its rich but isolated neighbour.

Ex-Goldman banker plans return to US to face criminal charges in connection with 1MDB

Roger Ng, a former Goldman Sachs Group Inc banker accused of playing a role in defrauding sovereign wealth fund 1Malaysia Development Berhad (1MDB), will return to the United States to face criminal charges against him, his lawyer said on Thursday.

Ng will waive extradition to the United States on Friday during an appearance in a court in Malaysia, according to his lawyer Marc Agnifilo.

Anwar: Malaysia won't compromise in Goldman-1MDB talks

NEW YORK (Bloomberg): Datuk Seri Anwar Ibrahim said Malaysia “will not compromise” in its talks with Goldman Sachs Group Inc over the 1Malaysia Development Berhad (1MDB) scandal, and the bank “must bear responsibility.”

Google’s new cloud boss targets old issue: Selling to big firms

Google’s cloud boss wants to fix a problem that’s hampered the business for its entire existence. The Internet giant has great technology but doesn’t sell it well to large companies.

Google’s cloud business, which offers computing power, data storage and productivity software like Docs, Sheets and Gmail, trails Microsoft Corp and Amazon.com Inc in the massive and growing market. — Bloomberg

Iron ore powers to highest since 2014 as Vale crisis intensifies

SINGAPORE: Iron ore futures surged more than 5 percent to hit the highest level since 2014 on concern that the increasingly severe crisis at top producer Vale SA will curtail global supplies, tightening the seaborne market and offsetting the impact of a slowdown in China, the largest importer.

Inside the Equanimity, the superyacht Malaysia is trying to sell for RM531mil

KUALA LUMPUR (Bloomberg): It boasts a gym, pool, gallery, beauty salon and helipad – not to mention space for sleeping 22 guests – and it’s up for sale at around half its purchase price.

Sony cuts sales forecast on weak PlayStation ops

TOKYO: Sony Corp reported weaker profits in the PlayStation business and cut its annual revenue forecast, triggering the steepest share decline in almost three and a half years.

Lower sales: Sony Corp PlayStation 4 games consoles sit stacked inside an electronic goods store in Berlin. The Tokyo-based company sold 8.1 million PS4 consoles, down from 9 million a year ago. — Bloomberg

Goldman Sachs says 1MDB scandal could hit pay for top executives

NEW YORK: The board of Goldman Sachs Group Inc said on Friday it is withholding a bonus worth at least US$7 million from former chief executive Lloyd Blankfein until investigations into the bank's involvement in the 1MDB scandal are resolved.

The bank also introduced a new forfeiture provision in its annual compensation plans for its top executives, including Chief Executive David Solomon(pic) and former head Blankfein, relating to the ongoing 1MDB proceedings.

Silver shortage promises to boost price in 2019

NEW YORK: Think of it as a potential silver lining for investors. A burgeoning shortage of the precious white metal is promising to boost its price as 2019 rolls out.

Silver surged 9.1 percent in December, its biggest monthly gain in almost two years.

China economy to stabilise without aggressive stimulus

HONG KONG: China’s more than $13 trillion economy will likely stabilize in the second half of 2019 without the need for aggressive stimulus, according to Goldman Sachs Group Inc. Chief Economist Jan Hatzius.