Finance and Economy
Brent oil prices rose on Thursday, touching US$70 per barrel for the first time in nearly five months. The crude price has seen a slow but consistent rally from its low of about US$50 a barrel in December last year, thanks largely to supply cuts by OPEC and its non-OPEC partner Russia, not to mention […]
... written on Apr 05 2019Not many people like buying stolen goods, let alone one as huge as Equanimity, the superyacht once belonged to Jho Low (full name: Low Taek Jho). Although the luxury boat was not physically stolen, it was bought by Mr. Low for an eye-popping US$250 million (RM1 billion) using money stolen from 1MDB (1Malaysia Development Berhad). […]
... written on Apr 03 2019Najib Razak, the former Prime Minister of Malaysia, is terribly upset today. And it’s not hard to understand why. Already slapped with record 42 charges of criminal breach of trust (CBT), money laundering and abuse of power, he is now being asked to settle a huge bill – RM1.5 billion in unpaid taxes – the […]
... written on Apr 02 2019Very little was known about Saudi Aramco, the world’s biggest oil producer. Now, as the organization that produces about 10% of the world’s crude raises cash from the international financial market through bond sales, its financial secrets have slowly emerged. As part of a global roadshow, Aramco is now forced to reveal secrets closely guarded since […]
... written on Apr 02 2019Despite worldwide political pressure, especially from the superpower United States, Huawei’s revenue grew 19.5% in 2018 – hitting US$100 billion. For the financial year 2018, Huawei, which overtook Ericsson in 2012 as the largest telecommunications-equipment manufacturer in the world, hit 721.2 billion Yuan (US$107.45 billion; £82.38 billion; RM438.67 billion) in sales. The Chinese company which overtook Apple in […]
... written on Mar 30 2019As Boeing struggles with the 737 Max crisis, its rival Airbus has scooped a massive order from China – 290 A320-family jets and 10 A350 wide-body jets. French officials said the mega deal was worth some 30 billion Euros (US$34 billion; £25.7 billion; RM138 billion) at catalogue prices, before significant discounts customers would typically receive […]
... written on Mar 26 2019As pilots of the Indonesian budget carrier Lion Air Flight 610 and the Ethiopian Airlines Flight 302 struggled to gain control of their planes, little did they realise that their newly acquired planes lacked two essential safety features in their cockpits. Boeing apparently sold their best selling model – 737 Max 8 – without those […]
... written on Mar 22 2019As the U.S. desperately tries to isolate and block its allies from using the Chinese 5G technology, Angela Merkel, Chancellor of the Federal Republic of Germany, has dealt a major blow to the Trump administration. She announced on Tuesday that the biggest economy of the European Union will not bend over to the pressure to […]
... written on Mar 20 2019After the defiant U.S. FAA (Federal Aviation Administration) finally suspended indefinitely Boeing 737 Max-8, despite an earlier declaration that there was “no basis to order grounding”, the U.S. Department of Transportation has opened an investigation into the Federal Aviation Administration’s approval of 737 Max planes. Were there irregularities, or even corruption involved in the approval […]
... written on Mar 18 2019Federal Aviation Administration (FAA), the agency that oversees American airspace, is notorious for ensuring the safety of civil aircraft in operation. Aeroplanes seeking an airworthiness certificate must meet stringent standards. In early 2013, the United States FAA grounded Boeing’s 787 Dreamliner, after two lithium ion-battery related fires in the aircraft. The FAA has grounded […]
... written on Mar 14 2019
