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Malaysia wins ruling, opens door to public 1MDB proceedings
LONDON: Malaysia won a victory at a London court that will allow public hearings in a dispute between 1MDB and Abu Dhabi’s state investment fund in legal battle over how billions of dollars intended for Malaysia’s economic development was stolen.
Indonesia sees no bailout for troubled life insurer
JAKARTA: Indonesia does not intend to bail out a state-owned life insurer that needs an injection of more than US$2bil, the finance ministry said, after reports that the attorney-general’s office has been asked to probe possible fraud.
Brexit among reasons for delay for Malaysia to challenge EU ban on palm oil
KUALA LUMPUR: The uncertainties over Brexit is among the reasons for the delay in Malaysia's attempt to challenge the European Union (EU) over its palm oil ban.
Malaysia averted FAA downgrade in 2003 as DCA quick to rectify issues
PETALING JAYA: Malaysia was on the verge of a downgrade by the United States Federal Aviation Administration (FAA) in mid-2003, but a quick rectification of problems prevented a full downgrade to Category 2 (Cat 2).
Malaysia aims to locate further US$4.3b in 1MDB-linked assets
KUALA LUMPUR: Malaysia is working to locate at least US$4.3bil in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday.
Large Bitcoin player manipulated price sharply higher, study says
‘Stablecoin’ tether, Bitfinex exchange reportedly used to drive up cryptocurrency’s price in 2017 and 2018
Sarawak to drop demand for Petronas royalty hike
KUALA LUMPUR: Sarawak will drop a demand for quadrupling royalties paid by energy giant Petronas but is pushing for production-sharing and other agreements, a key negotiator told Reuters on Wednesday.
US nears 1MDB recovery deal with Jho Low (Update)
WASHINGTON: The U.S. Justice Department is close to a deal with fugitive financier Jho Low to recover almost $1 billion that was misappropriated from Malaysian investment fund 1MDB, Bloomberg reported on Wednesday, citing a source familiar with the matter.
Malaysia privately discusses Goldman penalty of just US$2bil over 1MDB
AGAIN and again, Malaysia has publicly demanded Goldman Sachs pay an eye-popping $7.5 billion for its role in the 1MDB scandal. But privately, Malaysian negotiators are considering settling for a fraction of that.
Lawyers, insurers and advisers vie with scammers to exploit elderly
NEW YORK: Terry Ann McIntosh’s financial nightmare began four years ago, soon after she hired a caregiver through a family services website.