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Banking

Four premises in Johor raided on suspected illegal remittance activities

KUALA LUMPUR: Bank Negara today said that it had raided four premises owned by Famirah Sukses Wisata in Johor, suspected for carrying out illegal retail remittance business activities.

Business

Fox Networks’ UK offices raided by EU antitrust watchdog

LOS ANGELES: The London offices of Rupert Murdoch’s Fox Networks were raided by European Union antitrust regulators as part of a probe of the distribution of sports media rights.

Business

European Commission raids offices in sports broadcasting probe

LONDON: The European Commission on Tuesday raided the offices of a number of companies involved in sports broadcasting rights, including a unit of Rupert Murdoch's Fox, as part of an investigation into a possible cartel.

Business

UCO Bank plunges most since 2015 as India fraud impact widens

MUMBAI: Shares of India’s government-controlled banks fell on Monday as more lenders disclosed exposure to one of the nation’s biggest frauds.

Business

South Korea plans to ban cryptocurrency trading, rattles market

SEOUL: The South Korean government on Thursday said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion.

Business

Vertice, Ewein shares down following Penang arrests

PETALING JAYA: Shares of fashion apparel retailer Vertice Bhd fell nine sen to RM1 while that of Penang-based Ewein Bhd, a sheet metal fabricator turned developer, slipped two sen to 45 sen at the close yesterday following the arrests of senior company officials in relation to the RM6.3bil Penang Undersea Tunnel project.

Business

Indian regulators face legal challenge in probe over prescient messages

MUMBAI: A series of raids by India’s market regulator, investigating whether corporate announcements were prematurely leaked by market participants in social media chatrooms, were the largest it has conducted.

Corporate News

Japanese construction firms targeted in fresh raids

TOKYO: Tokyo prosecutors raided the headquarters of Japanese construction firms Taisei Corp and Obayashi Corp on Tuesday over alleged antitrust violations linked to US$80 billion worth of magnetic levitation (maglev) train projects.

Business

Short Position

THE recent action by the Inland Revenue Board (IRB) to squeeze more money out of SP Setia Bhd is all the more reason why companies and individuals have to be more careful with their books.

Business

Breakfast briefing: Tuesday, October 24 (Update)

Breakfast briefing: Tuesday, October 24