Malaysia pursues recovery of nearly $1billion disbursed by former 1MDB subsidiary

Malaysia is pursuing civil action to recover about 4 billion ringgit (an equivalent of $954.65 million) of funds disbursed by a former subsidiary of 1MDB, a now-defunct state fund under investigation for money laundering, the finance minister said on Wednesday. It is the latest action by Malaysian authorities seeking to recover billions of dollars allegedly… Read More Malaysia pursues recovery of nearly $1billion disbursed by former 1MDB subsidiary

Hong Kong leader Carrie Lam withdraws extradition bill following months of protests

Hong Kong leader Carrie Lam on Wednesday withdrew an extradition bill that triggered months of often violent protests so the Chinese-ruled city can move forward from a “highly vulnerable and dangerous” place and find solutions. Her televised announcement came following reports on Friday and Monday revealing that Beijing had thwarted an earlier proposal from Lam… Read More Hong Kong leader Carrie Lam withdraws extradition bill following months of protests

South African businesses shut stores in Nigeria in fear of reprisal xenophobic attacks

South African companies MTN and Shoprite closed stores in Nigeria on Wednesday in the face of attacks targeting their premises in retaliation to similar violence in their home country. Nigeria’s vice president is also boycotting an economic forum in Cape Town on boosting intra-African trade, the country’s foreign minister said, after days of rioting in… Read More South African businesses shut stores in Nigeria in fear of reprisal xenophobic attacks