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Corporate News 14 Jan 2019 | 12:00 AM

Unconscionable for banks to seek refuge behind exclusion clauses

In April 2008, a British couple living in the United Kingdom obtained a loan facility of RM715,487 to finance the purchase of their property in Malaysia. It was a term of the loan facility that the bank would make progressive payments to the developer against certificates of completion issued by the architect at each progress billing.

Business 12 Jan 2019 | 12:00 AM

Patronage is king?

WHEN Tun Dr Mahathir Mohamad led the opposition to a stunning election victory, he had an effective rallying cry that reflected why Umno’s form of governance was problematic: “Cash is king!” If Dr Mahathir is not careful, worrying recent trends indicate a similarly disconcerting problem about Pakatan Harapan’s government: “Patronage is king!”

Corporate News 11 Jan 2019 | 3:20 AM

US judge lets Buffett's Dairy Queen sue W.B. Mason over 'Blizzard'

A federal judge in Minnesota ruled this week that Dairy Queen, owned by Warren Buffett's Berkshire Hathaway Inc, may pursue its lawsuit to stop W.B. Mason Co from selling "Blizzard" bottled spring water, the name it uses for a popular ice cream product.

Corporate News 26 Dec 2018 | 12:37 PM

SBI Japannext buys strategic stake in N2N Connect

KUALA LUMPUR: Japanese online broker SBI Japannext Co Ltd has acquired a strategic investment stake in N2N Connect Bhd from its founder and managing director Andrew Tiang Boon Hwa in a RM91.4mil deal.

Corporate News 17 Dec 2018 | 11:02 PM

Goldman Sachs fires back after Malaysia charges bank in 1MDB probe

NEW YORK/KUALA LUMPUR: Malaysia on Monday filed criminal charges against Goldman Sachs Group Inc related to its dealings with the sovereign wealth fund 1MDB, and Goldman Sachs fired back that the previous Malaysian government had lied to the investment bank.

Corporate News 13 Dec 2018 | 12:00 AM

TH plans to put a cap on each depositor’s fund

KUALA LUMPUR: Lembaga Tabung Haji (TH) is looking to put a cap on each depositor’s fund as one of the measures to reduce government liability and exposure of the investors.

Business 11 Dec 2018 | 12:00 AM

For Huawei CFO, idyllic summer playground turns into a prison

VANCOUVER: Vancouver plays a special role for Meng Wanzhou, as it does for many a wealthy Chinese – a place to park some assets, educate your children, and just let your hair down from time to time.

Economy 10 Dec 2018 | 10:53 AM

EU's top court says UK can unilaterally stop Brexit

LUXEMBOURG/LONDON: The European Union's top court ruled on Monday that the United Kingdom can unilaterally revoke its divorce notice, raising the hopes of pro-Europeans ahead of a crucial vote in the British parliament on Prime Minister Theresa May's divorce deal.

Corporate News 05 Dec 2018 | 10:52 PM

World's biggest oil traders paid bribes in Brazil scandal

RIO DE JANEIRO/SAO PAULO: Leading global oil traders Vitol [VITOLV.UL], Trafigura [TRAFGF.UL] and Glencore paid more than US$30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday.

Corporate News 26 Nov 2018 | 12:00 AM

Meaningless debate on the Constitution

ALL countries are governed by their uniquely constructed Federal Constitution and Malaysia is no different. The US Constitution has less than 5,000 words whereas the Malaysian Constitution contains more than 60,000 words.