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Citigroup pays $180 mn to settle hedge fund fraud case

Citigroup pays $180 mn to settle hedge fund fraud case

August 18, 2015 NEW YORK: US securities regulators ordered two Citigroup affiliates Monday to pay $180 million to settle charges that they defrauded investors by falsely claiming a pair of hedge funds were low-risk. Citigroup collected nearly $3 billion from 4,000 investors by claiming the ASTA/MAT fund and the Falcon fund were low-risk investments akin […]

August 17, 2015 | By | Reply More
Norwegian fund to pull out from Genting and IJM

Norwegian fund to pull out from Genting and IJM

August 18, 2015 It cites environmental damage to tropical forests because of palm oil activities. OSLO: Norway’s gigantic sovereign wealth fund is pulling out its investment in Genting and IJM for the environmental damage their palm oil activities have on tropical forests. Its 0.4% stake in Genting is worth about US$41 million, and its 1.6% […]

August 17, 2015 | By | Reply More
Norway fund axes four Korean and M’sian firms over palm oil

Norway fund axes four Korean and M’sian firms over palm oil

OSLO: Norway’s $871 billion sovereign wealth fund has excluded two South Korean and two Malaysian companies from its investments, accusing them of turning tropical forests into palm oil plantations, the fund said on Monday. Construction firm IJM Corp Bhd and conglomerate Genting Bhd, both of Malaysia, and steelmaker POSCO and conglomerate Daewoo International Corp of […]

August 17, 2015 | By | Reply More
M’sian firm first to make investment in NextGlass Korea

M’sian firm first to make investment in NextGlass Korea

KL Management Services to invest USD20 million in the production of innovative glass panels using revolutionary patented technology. SEPANG: KL Management Systems (KLM), a chartered accountant firm, has made a name for itself by becoming the first Malaysian entity to invest in NextGlass Co Ltd, a Korean company that holds the revolutionary patented technology to […]

August 17, 2015 | By | Reply More
IndiGo confirms record order of 250 Airbus A320neos

IndiGo confirms record order of 250 Airbus A320neos

August 17, 2015 PARIS: Indian airline IndiGo has confirmed an order for 250 A320neo planes, Airbus announced Monday, the aviation giant’s largest ever contract by number. The order is worth some $26.5 billion (24 billion euros) at catalogue prices, and brings to 530 the number of A320 and A320neo medium-haul planes owned by the low-cost […]

August 17, 2015 | By | Reply More
Ibrahim Ali pelawa  Melayu kecewa sertai Perkasa

Ibrahim Ali pelawa Melayu kecewa sertai Perkasa

Orang Melayu sudah hilang kepercayaan kepada UMNO serta Pas dan nasib semakin terumbang-ambing dan tidak menentu manakala perpecahan makin parah. PETALING JAYA: Datuk Ibrahim Ali memperlawa orang Melayu dan Islam yang kecewa serta memilih untuk tidak berparti supaya menyertai pertubuhan bukan kerajaan (NGO). Perkasa. Katanya, Perkasa boleh dijadikan tempat mencari ketenangan di samping sama-sama mengembeling […]

August 17, 2015 | By | Reply More
Asia steady as yuan calms, dollar firm on upbeat data

Asia steady as yuan calms, dollar firm on upbeat data

TOKYO: Asian stocks were little changed on Monday as investors’ nerves continued to settle after China’s surprise yuan devaluation last week, while the dollar held modest gains against the euro after upbeat US economic data. MSCI’s broadest index of Asia-Pacific shares outside Japan were virtually unchanged in early trade. The index lost 2.6 percent last […]

August 17, 2015 | By | Reply More
China retreats to financial shadows to boost economic growth

China retreats to financial shadows to boost economic growth

SHANGHAI: On a sweltering day in August, the towering ferris wheel and massive roller coaster of China’s Jiyanghu Ecological Park, a two-hour train ride from Shanghai, stand eerily silent. Down a shady lane buzzing with cicadas, a security guard stands inside the near-deserted park’s administration building, its foyer featuring a reflecting pool and a two-storey-high […]

August 17, 2015 | By | Reply More
Japan economy shrinks in second-quarter in setback for ‘Abenomics’

Japan economy shrinks in second-quarter in setback for ‘Abenomics’

TOKYO: Japan’s economy shrank at an annualized pace of 1.6 percent in April-June as exports slumped and consumers cut back spending, a bad omen for Prime Minister Shinzo Abe’s policy drive to lift the economy out of decades of deflation. China’s economic slowdown and its impact on its Asian neighbors have also heightened the chance […]

August 17, 2015 | By | Reply More
China yuan to move both ways, more ‘adjustments’ unlikely

China yuan to move both ways, more ‘adjustments’ unlikely

August 16, 2015 SHANGHAI: China’s move to weaken the yuan last week could head off further similar “adjustments”, and the yuan is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday. The People’s Bank of China (PBOC) shocked global markets by devaluing the […]

August 16, 2015 | By | Reply More