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Malaysia

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  • SINGAPORE, July 7- Malaysia's central bank intervened for a third successive trading day on Tuesday to support the ringgit currency, traders said, as corruption allegations swirled round Prime Minister Najib Razak, raising doubts over his grip on power. A scandal over the $11.6 billion of debt wracked up by state fund 1 MDB had been bubbling for months, with...

  • *Tesco's Malaysia business worth 900 mln pounds- sources. KUALA LUMPUR, July 7- Japan's Aeon Co Ltd is interested in buying the Malaysian operations of Britain's Tesco PLC, valued at about 900 million pounds, people familiar with the matter told Reuters. The Japanese retailer has 28 hypermarkets in the country and plans to open 100 more stores in various formats by...

  • KUALA LUMPUR, July 7- A task force investigating Malaysia's troubled state investment fund 1 MDB said on Tuesday it had frozen half a dozen bank accounts following a media report that nearly $700 million had been transferred to an account of Prime Minister Najib Razak. The Wall Street Journal reported last week that investigators probing the debt-laden 1 MDB...

  • KUALA LUMPUR, Malaysia— Malaysian authorities have frozen six bank accounts as part of an investigation into allegations that hundreds of millions of dollars were transferred from a state investment fund to the personal accounts of Prime Minister Najib Razak. Attorney General Abdul Gani Patail said Tuesday a special taskforce investigating the...

  • *China bounces on Beijing support, Hong Kong hammered. LONDON, July 6- Emerging market stocks flirted with their biggest fall in two years on Monday as fears that Greece could be heading back to the drachma reached fever pitch, China remained volatile and Fed minutes this week kept U.S. rate jitters simmering. Most of the damage, however, had been done in Asia where...

  • *Opposition says Malaysia facing unprecedented political crisis. KUALA LUMPUR, July 5- Two of Malaysia's main opposition parties on Sunday demanded an emergency sitting of parliament to discuss Prime Minister Najib Razak's future as tensions mounted over a report that linked him to probes into alleged corruption involving state fund 1 MDB.

  • KUALA LUMPUR, Malaysia— Malaysian Prime Minister Najib Razak is facing the risk of criminal charges over allegations that hundreds of millions of dollars were funneled from an indebted state fund to his personal bank accounts, the first time a Malaysian leader has faced criminal allegations. The existence of the documents was first reported by the Asian Wall...

  • KUALA LUMPUR, July 3- Malaysian Prime Minister Najib Razak on Friday denied taking money from state fund 1 MDB or any other entity for personal gain, after a media report said investigators traced nearly $700 million to bank accounts that were allegedly in his name. The Wall Street Journal's report, if true, would be the first time the beleaguered prime minister...

  • *1 MDB says never provided funds to Prime Minister Najib. KUALA LUMPUR, July 3- Malaysian Prime Minister Najib Razak slammed a newspaper report that said investigations into troubled state fund 1 MDB have traced nearly $700 million of deposits into accounts that allegedly belonged to him, claiming it was a "continuation of political sabotage.

  • *1 MDB says never provided funds to Prime Minister Najib. KUALA LUMPUR, July 3- Malaysian Prime Minister Najib Razak slammed a report that said close to $700 million was wired to his personal account from banks, government agencies and companies linked to the debt-laden state fund 1 MDB, claiming this was a "continuation of political sabotage."

  • KUALA LUMPUR, Malaysia— Malaysian Prime Minister Najib Razak on Friday denied news reports that $700 million were funneled from an indebted state investment fund into his personal accounts. The Wall Street Journal and the Sarawak Report online news portal reported that investigators have traced some $700 million wired into Najib's bank accounts.

  • Malaysia's Prime Minister, Najib Razak.

    A Malaysian government probe found $700m flowed from a state investment fund to the personal bank accounts of PM Najib Razak, The Wall Street Journal reports.

  • Will politics be a drag on the Malaysian ringgit? Thursday, 2 Jul 2015 | 10:47 PM ET
    Will politics be a drag on the Malaysian ringgit?

    Wayne Gordon, commodities and FX strategist at UBS Wealth Management, explains whether fresh corruption allegations surrounding Prime Minister Najib Razak will weigh on the ringgit.

  • Is this the turning point of Najib's premiership? Thursday, 2 Jul 2015 | 10:39 PM ET
    Is this the turning point of Najib's premiership?

    If the Wall Street Journal report is proven true, it will be the first time that the Malaysian prime minister is directly linked to accusations of corruption surrounding 1MDB, says Giulia Zino, senior analyst with Control Risks.

  • Probe finds 1MDB money in Malaysia PM's accounts: WSJ Thursday, 2 Jul 2015 | 10:36 PM ET
    Probe finds 1MBD money in Malaysia PM's accounts: WSJ

    Nearly $700 million of deposits were made into what are believed to be the personal bank accounts of Malaysian Prime Minister Najib Razak, the Wall Street Journal reported Friday citing documents from a government investigation.

  • Malaysia wants a tribunal for Malaysia Airlines crash Thursday, 2 Jul 2015 | 8:23 PM ET

    UNITED NATIONS— Malaysia told the U.N. Security Council on Thursday that it plans to submit a resolution soon that would establish an international tribunal to prosecute those responsible for shooting down a Malaysia Airlines plane over Ukraine last year. Ambassador Gerard van Bohemen, the current council president, told reporters after Malaysia's...

  • MOSCOW— A draft Dutch report into last year's crash of Malaysian Airlines Flight 17 in eastern Ukraine fails to offer a comprehensive picture, a Russian aviation official said Thursday. The Dutch Safety Board has made the draft available to representatives of Malaysia, Ukraine, the U.S., Russia, Britain, Australia and the Netherlands prior to the release of the...

  • SINGAPORE, June 26- Surprisingly strong rains in an El Nino year, typically marked by droughts in parts of Asia, have eased concerns of a lower crop output in the region. While the forecast is for an equally severe dryness this year, recent rains have buoyed farming in India, China and Australia. "Indian monsoon is on track, in fact it has been better than expected, and we...

  • Singapore’s maids scrub out inflation Wednesday, 24 Jun 2015 | 8:14 PM ET
    Singapore pre-school children walk along the Singapore River waterfront.

    Singapore may be among the world's most expensive cities, but prices are dropping, and the city-state's legions of maids are getting the credit.

  • GMT: AirAsia needs to raise $1.9B Tuesday, 23 Jun 2015 | 11:59 PM ET

    The negative analyst report that decked AirAsia shares finally went into wide release, accusing the airline of being a "new dog playing old tricks."