malaysian

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Men walk past a 1Malaysia Development Berhad (1MDB) billboard at the fund's flagship Tun Razak Exchange development in Kuala Lumpur
FILE PHOTO: Men walk past a 1Malaysia Development Berhad (1MDB) billboard at the fund’s flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris

March 12, 2019

WASHINGTON (Reuters) – The U.S. Federal Reserve said on Tuesday it has sanctioned former Goldman Sachs bankers for their role in a money-laundering scandal involving 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned investment fund.

Tim Leissner and Roger Ng have been permanently barred from the banking industry for their involvement in “a scheme that illegally diverts billions of dollars from a Malaysian sovereign wealth fund.”

Leissner did not admit or deny the charge, but agreed to a $1.42 million fine.

(Reporting by Katanga Johnson; Editing by Bernadette Baum)

Source: OANN

FILE PHOTO: Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport
FILE PHOTO: Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport July 21, 2014. REUTERS/Edgar Su

March 12, 2019

KUALA LUMPUR (Reuters) – The Malaysian government is considering whether to shut, sell or refinance national carrier Malaysia Airlines (MAB), Prime Minister Mahathir Mohamad said on Tuesday.

The government was studying options for the national carrier, and a decision should be made “soon”, Mahathir said, when asked about analysts’ suggestions the airline be shut down or spun off.

“It is a very serious matter to shut down the airline,” Mahathir told a news conference at parliament.

“We will nevertheless be studying and investigating as to whether we should shut it down or we should sell it off or we should refinance it. All these things are open for the government to decide.”

The airline has been trying to transform its operations and return to profitability by 2019 as it recovers from two disasters in 2014, when flight MH370 disappeared in what remains a mystery and flight MH17 was shot down over eastern Ukraine.

Sovereign wealth fund Khazanah Nasional Bhd, which took MAB private in 2014, said the government needed to decide on its investment in, and level of support for, the struggling airline.

The fund also said that it was waiting for MAB to present a review of its business strategy.

(Reporting by Liz Lee; Editing by Robert Birsel)

Source: OANN

A man walks past a Citibank branch in lower Manhattan, New York
FILE PHOTO: A man walks past a Citibank branch in lower Manhattan, New York October 16, 2012. REUTERS/Carlo Allegri

March 11, 2019

LONDON (Reuters) – Investment bank Citi said on Monday that its clients had turned cautious on emerging market assets over the last week, with both real money and leveraged investors pulling out funds following four weeks of inflows.

“Real money and leveraged investor flows turned negative across EM last week, suggesting trimming of EM exposure amidst decline in the EUR and risk assets in general,” Citi’s Dirk Willer wrote in a note to clients, referring to the week ending Friday March 8.

There was some divergence across regions, with real money outflows dominating investors’ movements last week. Indonesia’s rupiah, Hong Kong dollar, Malaysian ringgit and Philippine peso suffered the heftiest flows, Citi found analyzing its clients’ money flows.

“Anxiety over US-China deal and weakness of risk assets may have triggered trimming of exposure,” Willer wrote.

Data showed that investors pulled out of Latin America with Chilean and Colombian peso at the fore front, while low yielders such as Polish zloty and the Czech crown attracted flows.

(Reporting by Karin Strohecker; Editing by Tom Arnold)

Source: OANN

Indonesian Siti Aisyah arrives at the Shah Alam High Court on the outskirts of Kuala Lumpur
Indonesian Siti Aisyah, who is on trial for the killing of Kim Jong Nam, the estranged half-brother of North Korea’s leader, arrives at the Shah Alam High Court on the outskirts of Kuala Lumpur, Malaysia March 11, 2019. REUTERS/Lai Seng Sin

March 11, 2019

KUALA LUMPUR (Reuters) – Malaysian prosecutors on Monday applied to withdraw a murder charge against an Indonesian woman accused of killing the half-brother of North Korea’s leader.

The trial of Indonesian Siti Aisyah, 26, was suspended in December as her lawyers argued with prosecutors over access to statements made by seven witnesses.

Prosecutors told the court they had been instructed to withdraw the charge against Siti Aisyah. No reason was given for the application.

(Reporting by Joseph Sipalan)

Source: OANN

FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the NYSE in New York
FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

February 26, 2019

(Reuters) – Goldman Sachs Group Inc said it expects losses related to ongoing lawsuits to be about up to $1.9 billion more than the money it set aside for legal matters.

In September, the investment bank had expected losses to be $1.8 billion in excess of its reserve. The bank did not give specific details on why it raised its loss estimate.

The amount disclosed in Tuesday’s filing is considered a separate accounting item from legal reserves, and covers all matters considered “reasonably possible”.

Apart from the lawsuits Goldman is already facing, it is being investigated by Malaysian authorities and the U.S. Department of Justice for its role as underwriter and arranger of three bond sales that raised $6.5 billion for 1Malaysia Development Berhad.

The Malaysian government said in December it was seeking up to $7.5 billion in reparations from Goldman over its dealings with 1MDB.

The bank added $844 million to its legal and regulatory provisions last year, more than four times what it set aside in 2017, though it did not specify the purpose.

(Reporting By Elizabeth Dilts and Aparajita Saxena; Editing by Saumyadeb Chakrabarty)

Source: OANN


The Malaysia Airlines flight went missing in March 2014, but investigators have failed to locate the plane’s crash site.

Their search was abandoned in 2018 despite several pieces of debris being found on the shores of islands in the Indian Ocean that allegedly belong to the plane.

Peter Foley, an aviation expert who was part of the Australian Transport Safety Bureau’s team tasked with determining the fate of the missing MH370 flight, told the Express that the key to revealing the place where the Boeing 777 crashed is the plane’s flaperon, which remains in the hands of French investigators.

Foley says that the state of the flaperon could reveal a lot to investigators; specifically, whether the pilot of the doomed plane attempted to glide the Boeing to a stop in an attempt to ditch it. If the latter was the case, then the investigative teams have to expand the search area in the Indian Ocean, as MH370 could have crashed farther away.

(Photo by Vicente Villamón, Flickr)

Foley said that the team has “seen some [visual] evidence that shows [the flaperon] was in a deployed state,” adding that the fact that such a crucial piece of evidence has remained in France “has been a frustration for the investigation.”

The flaperon was found on a beach on Reunion Island, which belongs to France, in the Indian Ocean in 2015 and was taken away by the Gendarmerie of Air Transport (GTA), which justified the move by the fact that four French citizens were on board flight MH370. In 2018, the GTA said that it was continuing its investigation into the airplane’s disappearance and that it could not yet comment on it.

Malaysia Airlines Flight MH370 with 239 passengers on board disappeared on 8 March, 2014 on its way from Kuala Lumpur to Beijing. Following four years of unsuccessful attempts to locate the plane’s crash site, the Malaysian government ended its search in May 2018, admitting that they did not know what happened to the missing Boeing 777.

Alex Jones returns from being on the road. When he arrived in-studio he tossed his new Stetson towards Owen Shroyer.

Source: InfoWars


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