The US Department of Justice (DOJ) has reached a deal with former 1Malaysia Development Bhd (1MDB) general counsel Jasmine Loo Ai Swan to recover artwork by Pablo Picasso, and a financial account in Switzerland traced to funds allegedly embezzled from 1MDB.

US strikes deal with Jasmine Loo to recover Picasso artwork, Swiss account's funds linked to 1MDB

Low Taek Jho or Jho Low, the alleged mastermind of the looting of 1Malaysia Development Bhd (1MDB), was ordered to forfeit a trio of “flawless” diamonds he bought for his mother that were from the jeweller who has designed for celebrities like Beyonce and Adele.

Jho Low must forfeit mom’s trio of ‘flawless’ diamonds

The High Court on Monday dismissed former prime minister Datuk Seri Najib Razak and ex-Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah’s application to be given a discharge not amounting to an acquittal (DNAA) in their joint trial in relation to six counts of criminal breach of trust (CBT) of government funds of US$1.2 billion (RM6.6 billion) paid to the International Petroleum Investment Company (IPIC).

High Court dismisses Najib and Irwan's application for DNAA in IPIC case, orders trial to resume on Nov 14

The prosecution has again failed to forfeit two properties, purportedly in relation to 1Malaysia Development Bhd (1MDB) assets, from fugitive businessman Low Taek Jho’s (Jho Low) sister, Low May Lin.

Prosecution fails again to forfeit properties from Jho Low’s sister

Datuk Seri Najib Razak has filed an appeal to the Court of Appeal against the dismissal of his application for leave to commence judicial review to challenge the existence of an addendum purportedly issued by the 16th Yang di-Pertuan Agong that would allow him to serve the remainder of his jail sentence under house arrest.

Najib turns to appellate court in bid to serve sentence under house arrest 

Singapore authorities said it is still pursuing Malaysian fugitive Low Taek Jho in connection with a multibillion-dollar scandal related to 1Malaysia Development Bhd (1MDB).

Singapore says Jho Low still wanted in 1MDB case

KUALA LUMPUR (July 15): Former 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy is suing his former employer for a total amount of RM2.702 million — for loss of two months’ salary and to seek the balance of his bonus of RM2.5 million.

Arul Kanda filed the suit on May 22, ...

Arul Kanda sues 1MDB for loss of salary and bonus

KUALA LUMPUR (July 10): The Attorney General’s Chambers (AGC) has rejected former Umno Supreme Council member Hizatul Isham Abdul Jalil’s offer for an unreserved apology in his contempt of court proceedings over his comments on the SRC International Sdn Bhd and 1Malaysia Development Bhd (1MDB) trials.

AG’s Chambers rejects Isham Jalil’s offer for apology

The government is focusing on the recovery of 1Malaysia Development Bhd (1MDB) assets, following the settlement agreement between the US Department of Justice (DOJ) and fugitive Low Taek Jho, also known as Jho Low, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

Malaysia's priority is repatriation of 1MDB assets — home minister

Datin Seri Rosmah Mansor has contended that the plaintiffs in the US$350 million (RM1.6 billion) luxury items suit against her are bound by a previous court judgement which ruled that they were not proceeds from unlawful activity.

Rosmah says 1MDB, SRC bound by decision in forfeiture case — luxury items not unlawful gains

1Malaysia Development Bhd (1MDB) has said there is no real danger of bias for High Court judge Adlin Abdul Majid to continue to preside in the firm and its four subsidiaries’ US$350 million (RM1.6 billion) claim against Datin Seri Rosmah Mansor in a lawsuit against her purported possession of luxury items bought using 1MDB funds.

Its director, Datuk Johan Mahmood Merican, who is also the Treasury secretary-general, in his affidavit-in-reply dated July 4 to Rosmah’s application to recuse Adlin, said there is no conflict of interest for Adlin to preside in the suit despite her previous employment with law firm Lee Hishammuddin Allen and Gledhill (LHAG), as she was never involved in advising 1MDB.

1MDB director says no real danger of bias for judge to preside in Rosmah’s jewellery case

The High Court on Wednesday dismissed former prime minister Datuk Seri Najib Razak's bid to serve the remainder of his sentence under house arrest.

High Court tosses out Najib's bid to serve sentence under house arrest

The Malaysian Bar, which is challenging former prime minister Datuk Seri Najib Razak’s pardon, which saw his jail sentence halved and his fine quartered, told the High Court on Tuesday that it is not challenging the Agong's power in the issue but the Pardons Board's decision.

Bar says it is challenging Pardon’s Board’s decision in Najib’s case, not Agong’s power

Former prime minister Datuk Seri Najib Razak has been allowed by the High Court on Tuesday to intervene in the Malaysian Bar’s challenge against the Federal Territories Pardons Board's decision to reduce his jail sentence and fine.

Najib allowed to intervene in Malaysian Bar's challenge of Pardons Board's decision

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

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

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

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