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Corporate News 31 Oct 2017 | 6:38 AM

Samsung Elec names new business heads in changing of guard

SEOUL: Samsung Electronics Co Ltd named a new generation of leaders at its three main businesses on Tuesday as it seeks to steady the ship following the arrest of group scion Jay Y. Lee earlier this year on charges including bribery.

Business 03 Nov 2017 | 12:00 AM

Indonesia jails tax dodgers in race to meet budget goals

JAKARTA: In the Dutch language, gijzeling means to take someone hostage. In Indonesia, that’s how authorities describe their strategy to deal with tax dodgers, throwing dozens of people in jail as part of a national crackdown.

Corporate News 24 Nov 2017 | 9:45 AM

Supermax MD Stanley Thai gets 5 years' jail for insider trading

KUALA LUMPUR: Supermax Corp Bhd group managing director Datuk Seri Stanley Thai Kim Sim has been sentenced to a five-year jail term and fined RM5mil for insider trading.

Banking 29 Nov 2017 | 9:23 AM

Koperasi Dinar Dirham premises raided over suspected illegal deposit-taking

KUALA LUMPUR: Koperasi Dinar Dirham Bhd’s premises were raided on Tuesday under a joint raiding operation by Bank Negara, the police, the National Revenue Recovery Enforcement Team of the Attorney-General’s Chamber, Malaysia Co-Operative Societies Commission and Cyber Security Malaysia.

Corporate News 07 Dec 2017 | 12:30 AM

VW executive jailed 7 years for US emissions fraud

DETROIT: A US-based Volkswagen AG executive who oversaw emissions issues was sentenced to seven years in prison and fined $400,000 by a judge on Wednesday for his role in a diesel emissions scandal that has cost the German automaker as much as $30 billion.

Business 09 Dec 2017 | 12:00 AM

‘Tis the season for the folly

IT wasn’t the Grinch who nearly stole Christmas from a small New Jersey town in the United States last week. It was a squirrel.

Business 12 Dec 2017 | 12:00 AM

China cracks down on hedge-fund industry

SHANGHAI: China’s securities regulator is cracking down on the fast-growing hedge-fund industry, investigating 10 cases of alleged wrongdoing.

Corporate News 19 Dec 2017 | 3:48 AM

Singapore issues more financial bans related to 1MDB

SINGAPORE: Singapore's central bank on Tuesday said it had permanently barred Yeo Jiawei, a former wealth manager of Swiss bank BSI involved in breaches related to Malaysia's 1MDB fund, from managing financial services firms and advisory activities.

Economy 08 Mar 2018 | 8:26 AM

Moody's downgrades Turkey's sovereign rating, markets shrug

ISTANBUL: Ratings agency Moody's cut Turkey's sovereign rating further into junk territory overnight, citing a continued weakening of its economic and political institutions and the increased risks from its wide current account deficit.

Business 24 Mar 2018 | 12:00 AM

Saudis hunting for deals plan to meet Amazon, Apple, Google

THE delegation of hundreds of Saudis that’s descended on the United States for three weeks will meet executives from Amazon, Apple, Google, Pfizer and other companies as they hunt for foreign investment.