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  • ABU DHABI, United Arab Emirates— The world's first round-the-world flight to be powered solely by the sun's energy made history Tuesday as it landed in Abu Dhabi, where it first took off on an epic 25,000- mile journey that began more than a year ago. After landing the plane, pilot Bertrand Piccard was greeted outside the cockpit by his Solar Impulse partner and...

  • SINGAPORE/ TOKYO, July 25- Oil prices held near two-month lows on Monday amid worries that a global crude and refined product glut would weigh on markets for some time to come. International Brent crude oil futures were trading at $45.58 per barrel at 0657 GMT, down 11 cents from their previous close. "Sentiment looks to have turned negative," said Matt Stanley of...

  • COLOMBO, July 21- Sri Lanka's cash-strapped national airline is in talks to lease four of its Airbus A330 planes to Pakistan International Airlines Corp, a government minister said on Thursday, months after cancelling an order for four Airbus A350 aircraft. State-owned SriLankan Airlines aims to reduce its debt and is looking for an international partner to...

  • *Malaysia Attorney General says no evidence of misappropriation. *Singapore seizes $240 million in 1 MDB-related funds. KUALA LUMPUR/ WASHINGTON, July 21- Malaysian Prime Minister Najib Razak said on Thursday judgment should be withheld until all the facts are known after the U.S. government filed lawsuits seeking to seize $1 billion in assets bought with...

  • COLOMBO, July 21- Sri Lanka's cash-strapped national airline is in talks to lease four of its Airbus A330 planes to Pakistan International Airlines Corp, a government minister said on Thursday, months after cancelling an order for four Airbus A350 aircraft. "A team from the airline is in Pakistan for negotiations. We will lease one A330, latest next month, on wet...

  • ABU DHABI, July 21- The rise and fall of Abu Dhabi tycoon Khadem al-Qubaisi, named this week in U.S. Justice Department lawsuits seeking to seize over $1 billion in assets, illustrates the unpredictability of an opaque Gulf business world fuelled by huge sums of oil money. In April last year he was abruptly replaced as managing director of IPIC, and in subsequent...

  • COLOMBO, July 21- Sri Lanka's cash-strapped national airline is in talks to lease four of its Airbus A330 planes to Pakistan International Airlines Corp, a government minister said on Thursday, months after cancelling an order for four Airbus A350 aircraft. We will lease one A330, latest next month, on wet lease, " Kabir Hashim, Minister of Public Enterprise...

  • *Malaysia Attorney General says no evidence of misappropriation. *Singapore seizes $240 million in 1 MDB-related funds. KUALA LUMPUR, July 21- Malaysian Prime Minister Najib Razak said on Thursday judgment should be withheld until all the facts are known after the U.S. government filed lawsuits seeking to seize $1 billion in assets bought with money stolen...

  • The Wall Street bank helped 1 MDB, which was founded by Malaysian Prime Minister Najib Razak in September 2009, raise $6.5 billion in three bond sales in 2012 and 2013 to invest in energy projects and real estate to boost the Malaysian economy. Prosecutors said the money was used to buy artwork, including paintings by Vincent Van Gogh and Claude Monet, luxury...

  • SINGAPORE, July 21- Singapore widened a crackdown on alleged money laundering in a probe tied to scandal-hit Malaysian state fund 1 MDB, seizing assets and announcing it will take action against some of the biggest banks based in the city-state. Singapore authorities said in a statement on Thursday that they had seized S $240 million of assets in an...

  • *'Wolf of Wall Street' film, paintings, property cited. WASHINGTON/ KUALA LUMPUR, July 21- U.S. prosecutors are trying to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state fund, overseen by the prime minister, and used to finance "The Wolf of Wall Street" film, and to buy property and works of art. Back in Malaysia, the hashtag#...

  • *'Wolf of Wall Street' film, paintings, property cited. WASHINGTON, July 20- U.S. prosecutors sued on Wednesday to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state development fund, which was overseen by the prime minister, and used to finance "The Wolf of Wall Street" film and to buy property and works of art.

  • Prosecutors said the money was used to buy artwork, including paintings by Vincent Van Gogh and Claude Monet, luxury properties in New York and London and gambling debts in Las Vegas. The FBI and other U.S. regulators, including New York's Department of Financial Services, have been investigating Goldman Sachs' business relationship with 1 MDB.

  • WASHINGTON, July 20- U.S. prosecutors sued on Wednesday to seize more than $1 billion in assets they said were tied to an international scheme to launder money stolen from the Malaysian state fund 1 MDB, which was overseen by Prime Minister Najib Razak and used to finance the Hollywood film "Wolf of Wall Street" and to buy property and famous works of art.

  • KUALA LUMPUR/ NEW YORK, July 20- U.S. federal prosecutors have filed civil lawsuits seeking to seize assets worth more than $1 billion, allegedly stolen from Malaysian state fund 1 MDB, which was overseen by Prime Minister Najib Razak. They include allegations that $681 million from a 2013 bond sale by 1 MDB was transferred to the account of "Malaysian Official 1,"...

  • DUBAI, United Arab Emirates— State-owned Saudi Aramco says it has signed a deal for a new gas project that will be worth more than 50 billion Saudi riyals when complete in 2019 aimed at meeting the kingdom's growing domestic demand for energy. The company on Wednesday said the project will help lessen dependence on oil for power generation and accommodate 4,500...

  • July 20- The U.S. Department of Justice filed lawsuits on Wednesday seeking to seize dozens of properties tied to Malaysian state fund 1 Malaysia Development Berhad, saying that over $3.5 billion was misappropriated from the institution. The lawsuits, filed in Los Angeles, seek to seize assets "involved in and traceable to an international conspiracy to...

  • DUBAI, July 20- Mashreq, Dubai's third-biggest lender by assets, posted on Wednesday a 16.1 percent fall in second-quarter net profit as impairments for bad debt more than doubled and fee and commission income edged lower. The lender made a net profit of 539.4 million dirhams for the three months to June 30, it said in a statement, down on the 643.3 million dirhams...

  • DUBAI, United Arab Emirates— Saudi Arabia's top clerics renewed a religious edict that warns against playing Pokemon— this time as the wildly popular mobile phone application "Pokemon Go". Saudi-based Arab News reported on Wednesday that Sheikh Saleh al-Fozan, a member of the kingdom's ultraconservative council of senior clerics, said the current version of...

  • ALMATY, July 20- Turkmenistan, Central Asia's biggest gas exporter, has restricted access to foreign currency for local companies and individuals in response to a sharp fall in export revenues, Turkmen businessmen say. Any economic crisis could have far-reaching consequences in Turkmenistan, an ex-Soviet country that borders Iran and Afghanistan.