KUALA LUMPUR: The prosecution in Datuk Seri Najib Razak’s SRC International Sdn Bhd trial revealed that the former premier had ordered the appointment of directors to the company even before the board of its parent 1Malaysia Development Bhd (1MDB) approved the proposal via a directors’ circular r...

Najib ordered SRC directors’ appointment, RM1.8b transfer before 1MDB board gave okay

KUALA LUMPUR: The High Court here has vacated the January and February trial dates of Datuk Seri Najib Razak and former Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah’s International Petroleum Investment Company (IPIC) case.

This is to make way for the hearing of the ...

IPIC trial dates vacated to make way for SRC case

KUALA LUMPUR (Dec 10): Datuk Seri Najib Razak maintained his position that despite his agreement to a suggestion that the Retirement Fund Incorporated (KWAP) extends a RM2 billion loan to SRC International Sdn Bhd, the decision still lies with KWAP's investment board on whether to approve or reject the loan.

This is despite attorney-general Tan Sri Tommy Thomas bringing out the KWAP investment paper to the board that initially recommended a RM1 billion cap, followed by minutes of the second meeting by the fund’s investment panel where its chairman Tan Sri Wan Abdul Aziz Wan Abdullah said Najib had told him that “RM2 billion was sufficient”.

Najib insists its up to KWAP to give RM2b loan to SRC

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak told the High Court yesterday he appointed himself as the finance minister as he thought he had the ability to develop the country’s economy.

Najib said this in response to a question by Attorney-General Tommy Thomas as to why h...

'I made myself finance minister because I can develop the economy'

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak maintained that despite him agreeing to a suggestion that the Retirement Fund Inc (KWAP) extend a RM2 billion loan to SRC International Sdn Bhd, it was still KWAP’s investment board’s decision to approve or reject it.

This was d...

Up to KWAP to give RM2b ‘loan to SRC, court told

KUALA LUMPUR: Datuk Seri Najib Razak has cast doubt over the authenticity of some of his signatures in several documents that have been tendered at the High Court in his SRC International Sdn Bhd trial, saying it necessitates an expert witness.

Najib raised questions about his signature...

‘We need an expert witness because my signature was forged’

KUALA LUMPUR: Former premier Datuk Seri Najib Razak explained yesterday on the witness stand at the High Court here that he bought a Chanel watch of almost half a million ringgit for his wife Datin Seri Rosmah Mansor to make up for cutting short their family holiday in Honolulu, the US.

Najib bought watch Rosmah chose to make up for shortened holiday

Former premier Datuk Seri Najib Razak today explained, on the witness stand at the High Court, that his close to half a million ringgit Chanel watch purchase for his wife Datin Seri Rosmah Mansor was for her birthday and as a means to make up for cutting short their family holiday in Honolulu in the United States.

Replying to questions from his lead counsel Tan Sri Muhammad Shafee Abdullah, the former premier said at that time, there were massive floods happening in the east coast states of Peninsular Malaysia, especially in Kelantan.

Najib bought RM466,000 watch Rosmah chose to make up for shortened holiday

KUALA LUMPUR: Former premier Datuk Seri Najib Razak said he was shocked that fugitive financier Low Taek Jho (Jho Low) was dealing with AmBank on managing his personal accounts.

“I cannot explain this. I am utterly shocked that the bank deals with Jho Low although the power was only giv...

Ex-PM ‘utterly shocked’ Jho Low managed accounts

Datuk Seri Najib Razak today questioned the authenticity of some of his signatures in several documents that have been tendered at the High Court in his SRC International Sdn Bhd trial which necessitated an expert witness.

Najib — who is facing seven charges of criminal breach of trust, abuse of power and money laundering of RM42 million — raised questions about his signatures in the Minister of Finance Inc minutes to the SRC board, the AmBank transfer instructions and the 1MDB minutes instructions to the SRC board.

Najib: We need an expert witness because my signature was forged

Top Amazon.com Inc executives including founder Jeff Bezos and chief executive officer Andy Jassy destroyed text messages discussing business, the Federal Trade Commission (FTC) alleged, erasing evidence the agency could have used in its antitrust case against the retail giant.

Amazon’s Bezos, Jassy deleted chats amid FTC antitrust probe

(April 25): European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record $8.8 billion in net withdrawals from the products in the U.S.

A combination of factors likely contributed to...

Record $8.8 bln pulled from US sustainable funds in Q1

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

Asia stocks, yen tentative with eyes on BOJ decision

The first ICCA Association Impact Masterclass kicked off in Kuching on Friday with 24 Malaysian and international association leaders in line to be awarded the “Association Impact Leadership” Certificate.

ICCA Association Impact Masterclass kicks off in Kuching

The global legal technology market has grown significantly in recent years and generative AI (GenAI) will accelerate this growth, with the market reaching US$50 billion (RM238.88 billion) in value by 2027, according to Gartner Inc.

Global legal tech market will hit US$50b by 2027, says Gartner

(April 25): Shares of Meta Platforms sank 13% on Thursday, sparking a selloff in big technology stocks after the social media firm signaled its costly bet on AI could take years to pay off.

The drop was set to erase nearly $170 billion from the company's market value and triggered ...

Meta sparks tech selloff as AI splurge spooks Wall Street

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

Vitrox shares on pace for worst day in 18 months as 1Q disappoints

Four of seven ships trapped in Baltimore Harbour since the Francis Scott Key Bridge collapsed last month have cleared the wreckage and are en route to their destinations.

Baltimore’s trapped ships start leaving as new channel opens

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

Intel forecast misses estimates; shares tumble

China’s top diplomat Wang Yi warned his American counterpart that problems are mounting between the world’s largest economies, as the US threatens Beijing with sanctions for its support of Russia.

China warns Blinken ‘negative factors’ building in US relations

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla fires back at investor who doesn’t want pay fight in Texas

Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.

Trump advisers discuss penalties for nations that move away from the dollar

Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

Google parent Alphabet announces first-ever dividend, shares soar

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

China prepares UN resolution to tap AI for good

One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.

Arsenal face derby test with title up for grabs

Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

UK warns universities about research threat from foreign states

The Federal Communications Commission (FCC) said on Thursday it is ordering the US units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the US.

Agency bars Chinese telecom carriers from offering US broadband services

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

Hafiz Yatim, Emir Zainul & Timothy Achariam

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