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Corporate News

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.


Malaysia seeks US$7.5bil in reparations from Goldman Sachs

KUALA LUMPUR: Malaysia is seeking US$7.5 billion (5.9 billion pounds) in reparations from Goldman Sachs Group Inc over its dealings with scandal-linked state fund 1MDB, the Financial Times reported on Friday, citing the country's finance minister.

Corporate News

Abu Dhabi's Mubadala halts business with Goldman Sachs amid 1MDB lawsuit

DUBAI/ABU DHABI: Abu Dhabi state investor Mubadala has suspended new business dealings with Goldman Sachs since its subsidiary filed a lawsuit in November against the U.S. bank and others to recover losses suffered through its dealings with Malaysian state fund 1MDB.

Business News

Ex-Goldman Sachs banker Ng pleads not guilty to 1MDB charges

NEW YORK: Former Goldman Sachs Group Inc banker Roger Ng pleaded not guilty to criminal charges linked to a multibillion-dollar scandal at the Malaysian state investment fund 1MDB in an appearance at federal court in New York on Monday.


Goldman Sachs CEO apologises for ex-banker’s role in 1MDB scandal

NEW YORK: Goldman Sachs Group Inc chief executive officer David Solomon (pic) has apologised to the Malaysian people for former ban­ker Tim Leissner’s role in 1Malaysia Development Bhd (1MDB) scandal, but said the bank had conducted due diligence before every transaction.

AseanPlus News

Goldman Sachs the latest victim of copycats

BEIJING: A staffer at a Chinese finance company named Goldman Sachs said any similarity to the multi-billion-dollar US investment giant was unintentional, weeks after a Chinese man was arrested for setting up a fake bank branch.


Singapore said to expand 1MDB criminal probe to include Goldman Sachs

SINGAPORE: Singapore has expanded a criminal probe into fund flows linked to scandal-plagued 1MDB to include Goldman Sachs Group Inc., which helped raise money for the entity, people with knowledge of the matter said.


Indonesia to hold court hearing into Goldman Sachs's billion-dollar dispute with tycoon

JAKARTA: Indonesia will hold a court hearing on Tuesday into a billion-dollar dispute between Goldman Sachs and a local tycoon, who says the Wall Street giant's unit unlawfully sold shares he owned, in the latest test for the country's legal system.


Singapore central bank bans former Goldman Sachs banker for life

SINGAPORE: Singapore's central bank on Wednesday said it had issued a lifetime prohibition order against former Goldman Sachs' banker Tim Leissner after he admitted to charges related to an investigation into scandal-plagued Malaysian state fund 1MDB.


Goldman Sachs is not always right

THE headline figure on Goldman Sachs’ prediction of where oil prices are headed is certainly eye-catching. The US-based investment bank predicts a long-term forecast of oil at US$50 per barrel with immediate concerns of it dropping to as low as US$20 next month or in March next year when refineries shut down for maintenance.