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The collapse of fintech darling Wirecard AG into insolvency proceedings is a total embarrassment for Germany, whose regulatory apparatus and corporate-governance system failed to properly scrutinise the company’s accounting practices even as red flags kept being waved.
SINGAPORE: When Credit Agricole SA and HSBC Holdings Plc issued a payment guarantee for a US$76.5mil fuel purchase from a Singapore trader in March, they unwittingly became the latest victims in a series of trade finance scandals that have led to more than US$9bil in potential losses for global lenders.
KUALA LUMPUR: The ringgit was higher at the opening, tracking the higher crude oil price currently trading at US$43 per barrel, up by 0.23 per cent, ahead of the virtual joint ministerial monitoring committee (JMMC) of the Organisation of the Petroleum Exporting Countries (OPEC) meeting later today to recommend levels for future supply cuts
SEOUL: Day traders seeking help for gambling addiction have tripled in number in South Korea, as COVID-19 social distancing and working-from-home has freed up more time for online stock market trading, data showed.
KUALA LUMPUR: The Malaysian Healthcare Travel Council (MHTC) has revised downward the revenue target for medical tourism this year by 75% from its original target amid the fallout from the Covid-19 pandemic.
SEOUL: Day traders seeking help for gambling addiction have tripled in number in South Korea, as Covid-19 social distancing and working-from-home has freed up more time for online stock market trading, data showed.
MUMBAI: India is staring at a protracted slowdown as coronavirus cases reach its countryside, with signs of recovery in the rural economy hailed by Prime Minister Narendra Modi “at best a mitigating factor”, government officials and analysts said.
COVID-19 is here to stay. Despite efforts globally to stop it, the pandemic has continued to spread.
WASHINGTON: U.S. President Donald Trump acknowledged to a journalist early in the coronavirus pandemic that he played down the danger of the health crisis despite having evidence to the contrary, according to a new book.