KUALA LUMPUR: Abu Dhabi’s International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay US$1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1MDB, Malaysia’s finance ministry said on Monday (Feb 27). Malaysia in 2018 had filed a challenge inContinue Reading
In a statement posted on its Twitter account, Hindenburg said “regarding the company’s threats of legal action, to be clear, we would welcome it”. “We fully stand by our report and believe any legal action taken against us would be meritless,” it added. Founded by Nathan Anderson in 2017, HindenburgContinue Reading
TOKYO: A Japanese consortium has decided to retain its stake in the new Russian operator of the Sakhalin-1 oil and gas project and is set to notify Moscow, moving to secure stable energy supplies for resource-scarce Japan. “It’s an extremely important project,” Economy and Industry Minister Yasutoshi Nishimura said onContinue Reading
WASHINGTON: The United States has added seven China-related entities, mostly related to aerospace, to its export control list, citing national security and foreign policy concerns, according to a US Commerce Department notice published online on Tuesday (Aug 23). According to a notification posted to the Federal Register, suppliers of US materialsContinue Reading
CASTEISM OUTLAWED IN INDIA Caste discrimination was banned in India over 70 years ago, however bias persists, according to several studies in recent years, including one that discovered Dalit people were underrepresented in higher-paying careers. Debate on the hierarchy is contentious in India plus abroad, with the concern intertwined withContinue Reading
Most growing Asian economies got experienced capital outflows comparable to those in 2013, when global bond yields spiked on hints from the US Federal Book that it might taper bond buying earlier than expected, Srinivasan stated. Outflows had been especially huge for India, which had seen US$23 billion move outContinue Reading
China will expand anti-dumping duties on grain oriented flat-rolled electrical steel brought in from Japan, South Korea, and the Eu (EU), the state’s ministry of business said on Fri (Jul 22). The responsibilities will be extended designed for five years starting from Jul 23, it said in the statement. TheContinue Reading
BEIJING: Chinese Vice Premier Liu He previously a “constructive” digital dialogue with US Treasury Secretary Janet Yellen on Tuesday (Jul 5), with both sides agreeing to better coordinate macro policies, according to China’s commerce ministry. The far east also expressed concern over the additional tariffs that the United States hadContinue Reading