Apart from a growth slowdown, Indonesia's current account deficit and the risk of another massive capital outflow due to a U.S. rate hike will keep the rupiah on the back foot, says Craig Chan, head of FX strategy, Asia ex-Japan at Nomura.» Read More
*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...
Malaysia's ringgit plunged Monday to levels not seen since the late 1990s, taking a double-whammy from domestic corruption allegations and Greece.
Wong Chen, member of the Malaysian Parliament, discusses the allegations of corruption surrounding Malaysia's state fund 1MDB and Prime Minister Najib Razak.
*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, 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."
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.
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.
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.
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.
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 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.
The negative analyst report that decked AirAsia shares finally went into wide release, accusing the airline of being a "new dog playing old tricks."
AirAsia's use of the "equity method" to account for associates' profits is in line with Malaysia's accounting standards, says K Ajith, director of Asia Transport Research at UOB Kay Hian Research.
Robert Medd, partner at GMT Research, says AirAsia is using transactions with its associates in the Philippines and Indonesia to boost the parent's operating cash flow.
KUALA LUMPUR, June 18- A Malaysian naval vessel has located the hijacked tanker Orkim Harmony in Vietnamese waters and is trying to persuade the pirates onboard to surrender, promising them they will be unharmed, Malaysian maritime officials said on Thursday. Both the crew and the cargo are safe, and the navy is in the midst of negotiations with the robbers,...
KUALA LUMPUR, June 18- Malaysia's Chief of Navy Admiral Abdul Aziz Jaafar has said on his Twitter account that a Malaysian naval vessel has been shadowing the hijacked tanker Orkim Harmony and is trying to persuade the pirates aboard to surrender. Both the crew and the cargo on board is safe, and the navy is in the midst of negotiations with the robbers, officials...
KUALA LUMPUR, June 18- The small oil tanker that was hijacked off the southeast coast of Malaysia last week has been detected in Cambodian waters, according to local media reports on Thursday. State news agency Bernama, quoting Malaysia's Chief of Navy Admiral Abdul Aziz Jaafar, reported that the MT Orkim Harmony has been repainted and renamed.
Mohshin Aziz, aviation analyst at Maybank Investment Bank, says there is nothing new in the negative research report issued by GMT Research.