Selangor Umno files preliminary objection against forfeiture of RM2.7mil

KUALA LUMPUR (Bernama): The Selangor Umno Liaison Committee has filed a preliminary objection against the government’s application to forfeit funds amounting RM2,738,525.08 which were seized from them.

Economy continues to recover but Covid-19 risks remain

KUALA LUMPUR: Malaysia’s economy is expected to continue to grow in the months ahead, based on the latest economic indicators but risks from Covid-19 remain, the Statistics Department says.

IPIC drops lawsuit against Goldman Sachs over 1MDB scandal

Abu Dhabi's International Petroleum Investment Co (IPIC) said on Wednesday that it was dropping a lawsuit against Goldman Sachs Group Inc to recover losses suffered from the U.S. investment bank's dealings with Malaysian state fund 1MDB.

Tesla sets revenue record, makes profit thanks to pollution credit sales to rivals

NEW YORK: Tesla Inc on Wednesday reported its fifth consecutive quarterly profit on record revenue of US$8.8 billion, boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers.

Roundup: IMF revises down 2020 Asian economy forecast to 2.2-pct contraction

WASHINGTON, Oct. 21 (Xinhua) -- The International Monetary Fund (IMF) on Wednesday revised down its 2020 forecast for the Asian economy to a contraction of 2.2 percent, calling it "the worst outcome for this region in living memory."

Better business sentiment in third-quarter, says MIER

KUALA LUMPUR: The Business Conditions Index (BCI) posted a modest recovery of 25.3 points in the third quarter (Q3) of 2020, settling at 86.3 points compared with a major drop of 22.0 points in Q2, indicating a boost in manufacturers’ confidence level.

BoJ member says action needed for recovery

TOKYO: Bank of Japan (BoJ) board member Makoto Sakurai said yesterday the central bank must take “swift and appropriate” action if the coronavirus shock delays the country’s economic recovery.

Expand digital infrastructure, South-East Asian countries told

Cathay Pacific to slash workforce, end Cathay Dragon brand on virus woes

SYDNEY: Hong Kong’s Cathay Pacific Airways Ltd said yesterday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic.

Insight - Cathay Pacific sees a discount path to survival

FOR an airline built in an era of globe-spanning cosmopolitanism, a pandemic that’s shut the world’s borders is particularly brutal